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(b) Before approving the Original Agreement, the City Council certified <br />Environmental Review No. 2006 -01 for the Original Agreement and <br />the development proposal which was the subject of the Original <br />Agreement (the "Original EIR "). <br />(c) Both this First Amended and Restated Development Agreement <br />and the Original Agreement pertain to the Property. <br />(d) 1901 E. 1st Street Partners, LLC, a Delaware limited liability <br />company, was the owner of the Property at the time of the Original <br />Agreement (the "Original Owner "). <br />(e) On September 30, 2012, Owner acquired the Property from 1901 <br />Santa Ana Land, LLC, a Delaware limited liability company and a <br />successor of the Original Owner. <br />(f) By entering into this First Amended and Restated Development <br />Agreement, the City Council approves the assignment of the rights <br />and delegation of the obligations under the Original Agreement to <br />Owner. <br />1.3 Purpose of this First Amended and Restated Development <br />Agreement. <br />(a) The purpose of this First Amended and Restated Development <br />Agreement is to facilitate the development of the Property. This <br />First Amended and Restated Development Agreement is not a new <br />development agreement, but rather an amendment and <br />restatement of the terms of the Original Agreement. The purpose of <br />this First Amended and Restated Development Agreement is to (1) <br />reflect a revised development plan for the Property and (2) extend <br />the term set forth in the Original Agreement. <br />(b) Owner proposes to develop on the Property a new 264 -unit <br />multifamily residential development (the "Project'). The Project will <br />consist of a new 5 -story low -rise Type III -A building containing 250 <br />units to be constructed against the west side of the Existing Parking <br />Structure and a new 3 -story Type V -A townhouse building wrapping <br />the south and east sides of the garage containing 14 townhouse <br />units. A 5,000 GSF clubhouse and recreation deck with pool will be <br />added over the southern half of the Existing Parking Structure. The <br />project will also include approximately 2,424 SF of retail space on <br />the corner of First Street and Cabrillo Park Drive. <br />067619 \5448832v5 Z <br />