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SAMPLE <br />CITY OF SANTA ANA <br />DISPOSITION AND DEVELOPMENT AGREEMENT <br />Downtown Hotel and Mixed -Use: Residential and Retail /Commercial Project <br />At Third and Broadway <br />This DISPOSITION AND DEVELOPMENT AGREEMENT ( "Agreement' or "DDA ") is <br />entered into as of 2016 (the "Effective Date "), by and between the CITY <br />OF SANTA ANA, a California municipal corporation ( "City "), and , a <br />( "Developer "). <br />RECITALS <br />A. City is the fee owner of certain real property collectively consisting of approximately <br />_ acres located at , and approximately acres that constitutes a portion of the <br />parcel located at as more particularly described in Attachment No. 3, attached hereto and <br />incorporated herein by reference and depicted on the Map of the Project Site (collectively, the <br />"City Property"). <br />B. In 20 , Developer contacted City to express an interest in purchasing the City <br />Property with the intent of redeveloping the City Property and the Developer Property with a <br />mixed use hotel and commercial /retail project. <br />C. City and Developer have negotiated terns pursuant to which Developer will purchase the <br />City Property from the City for the development of an approximately room hotel and retail, <br />restaurant and cafe space as more particularly described in the Scope of Development, attached <br />hereto as Attachment No. 5 (the "'Project'), which will be located on the City Property (the <br />"Project Site "). The proposed Project will result in the redevelopment of undenttilized land and <br />aging structures, development of extended stay hotel rooms to accommodate a demand in <br />Downtown Santa Ana and nearby to the Orange County Courthouse facility, increased <br />employment opportunities within the City and additional property taxes, sales taxes and transient <br />occupancy taxes produced from the Project Site. Additionally, Developer has agreed to pay the <br />City the full fair market value for the purchase of the City Property, which will provide <br />additional general fund revenue for the City. <br />D. Based on the reasons identified in Recital C, above, together with the commitments and <br />obligations of the Developer to develop the Project Site as contained in this Agreement, the City <br />has determined that the sale of the Project Site to the Developer for development in accordance <br />with this Agreement is in the best interest of the City. <br />NOW THEREFORE, the Parties hereby agree as follows. <br />Article 1 <br />PURPOSE, PARTIES, AND PROJECT SITE <br />1.1 Recitals. The Recitals are hereby incorporated into this Agreement. <br />EXHIBIT 1 <br />55394.00000129008220.1 65A -5 <br />