PEEBLER, SCOTT AS SUCCESSOR IN INTEREST TO GERALD PEEBLER - 2014

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A- 2014 -277 SETTLEMENT AGREEMENT AND MUTUAL AND GENERAL RELEASE This Sett ement Agreement and Mutual and General Release ( "Agreement ") is entered I into this — day of 2014, by and between Scott Peebler as — successor in interest to Gerald Peebler ( "Petitioner"), the City of Santa Ana, a charter city and municipal corporation ( "City ") and the Successor Agency to the Former Community Redevelopment Agency of the City of Santa Ana ( "Successor Agency "). Petitioner, City and v Successor Agency are collectively referred to herein as the "Parties." 1 Recitals A. On July 6, 1982, the City Council of the City of Santa Ana adopted the South Main Street Redevelopment Plan (adopted by Ordinance No. NS- 1639). Following the City's adoption of the redevelopment plan, a validation action was filed by Petitioner in Peebler v. City of Santa Ana, Orange County Superior Court, Case No. 38- 58 -59, challenging the South Main Street Plan ("Peebler"). B. Based upon a settlement agreement and stipulation entered into by the Peebler plaintiffs, the City, and the Former Community Redevelopment Agency of the City of Santa Ana ( "Former Agency "), on March 2, 1984, the court entered a Judgment on Stipulation for Entry of Judgment validating the South Main Street Redevelopment Plan and the ordinance that adopted that plan, nantely, Ordinance No. NS -1639 ( "Stipulated Judgment "). The Stipulated Judgment required that the Peebler plaintiffs and the Former Agency carry out the terms and conditions set forth in the Stipulation and Resolution No. 84 -2, adopted by the Former Agency on February 27, 1984. Among other things, the Former Agency was required to: (1) set aside 20% of tax increment solely and exclusively for low and moderate income housing and related activities; and (2) use 20% of tax increment for public improvements such as parking, and for providing financial incentives such as rebates, commercial improvements, and reduced interest rehabilitation loans within a designated area referred to by the parties as "South Main Commercial Corridor." C. In June 2011, the California Legislature adopted, and the Governor signed, ABXI 26, which provided for the statewide dissolution of all redevelopment agencies effective February 1, 2012.1 The Former Agency's obligations were assumed by the Successor Agency to the Former Agency, pursuant to the provisions of ABX126. D. The Successor Agency listed the Stipulated Judgment and other similar stipulated judgments as enforceable obligations on each of the Successor Agency's Recognized Obligation Payment Schedules ( "ROPS "), but each time DOF determined that they were not enforceable obligations and that the Successor Agency could not receive Redevelopment Property Tax Trust Fund monies ( "RPTTF ") to fund them. r ABXI 26's original dissolution date of October 1, 2011 was modified to February 1, 2012 by California Redevelopment Assn. v. Matosantos (20) 1) 53 CaWth 231, on December 29, 2011. -1- 55394.LM0 5193 1 3 5 1 I.9