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Exhibit 4 Resolution No. RE, SOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA DIRECTING THE CITY ATTORNEYS' OFFICE TO NEGOTIATE A DISPOSITION AND DEVELOPMENT AGREEMENT WITH CARIBOU INDUSTRIES, INC. OR ITS AFFILIATES CONCERNING A MIXED USE/HOTEL DEVELOPMENT AT THIRD & BROADWAY WHEREAS, the City believes that continued economic development in the Artists Village is in the best interests of the City insofar as the Artists Village promotes tourism, diversifies the City's economic base, and further solidifies the City's position as a regional and State economic hub; WHEREAS, to this end, the City has adopted numerous economic incentive policies to further stimulate growth in and around the Artists Village including, but not limited to, a unique tax incentive program to encourage the development of visitor serving hotel uses in and adjacent to the Artists Village; WHEREAS, for the past several years, the City has been actively pursuing a mixed use development at Third & Broadway consisting of residential, retail, office and hotel; WHEREAS, on May 3, 2013 and September 16, 2014, the City previously sought responses from qualified developers to a request for proposals to enter into a disposition and development agreement with the City to develop the Third & Broadway project; WHEREAS, Caribous Industries, Inc. ("Developer") responded to the RFP and on July 5, 2016 was selected by the City as the Developer and the City directed City Staff to prepare a disposition and development agreement with Developer; WHEREAS, the City's Development and Transportation Committee have been working with the Developer to negotiate such a disposition and development agreement to implement the Project; WHEREFORE, in light of the importance of the Third & Broadway project to the overall economic development goals of the City, the City Council hereby directs the City Attorneys' Office to negotiate a development and disposition agreement with Developer concerning a mixed use development at Third & Broadway consisting of the following terms and to be brought back to the City Cow-icil for further action at a City Council meeting to be held no later than December 31, 2016: Developer is to purchase the property at no cost to Developer (as an incentive to invest in excess of $70,000,000) with the intention of demolishing the existing parking garage and building a mixed use residential/retail/office/hotel project. 1032/028269-0006 10259001.1 a10/24/16 65D-50