Laserfiche WebLink
City of Santa Ana Third Street & Broadway Project Update <br />May 2, 2017 <br />Page 2 <br />property. Said lien shall be maintained for no less than 25 years. <br />4. The City shall release the lien after 25 years and upon the developer's <br />accomplishment of all performance requirements and terms of the loan as outlined <br />in the DDA. <br />5. The developer shall be required to deposit a determined amount within five (5) days <br />of opening an escrow. <br />6. The transfer of the title of the property shall only take place after certain City of <br />Santa conditions have been met by the developer. <br />7. The developer shall obtain all necessary entitlements at their own expense prior to <br />transfer of property titles from the City to the developer. <br />8. The developer shall prepare a complete environmental document consistent with <br />California Environmental Quality Act (CEQA) for the proposed project, <br />9. A minimum four (4) -star hotel component, consisting of no fewer than 60 rooms is a <br />required component of the proposed project. The hotel may be built at the same <br />time as the rest of the project or in a subsequent phase, as described by the <br />developer with a justification for its phasing and timing. Developer must submit <br />documentation to verify a commitment from a major hotel, development proforma <br />for the hotel, and signed labor agreements as required but the City in order to meet <br />the hotel component requirement for the project. <br />10. A hotel tax rebate incentive may be negotiated between the City and the hotel <br />operator consistent with the City's Hotel Incentive Program. <br />11. The developer shall build the project paying prevailing wages and the hotel <br />component shall employ unionized labor at prevailing wages for its operations. <br />12. The developer will not be required to replace the existing public parking. Therefore, <br />no public funds shall be directed to the development project for the purpose of <br />creation of public parking. <br />16. Any unauthorized delays by the developer at any agreed upon phase of <br />construction shall be subject to penalties set forth in the DDA. <br />17. The new development project shall be designed by a highly credible design team to <br />exemplify the City's commitment to excellent design and sustainability in Santa <br />Ana. <br />19. Prior to issuance of final certificates of occupancy, general, standard, and specific <br />conditions and obligations set forth for this project shall be met within the timelines <br />outlined in the DDA. <br />20. Developer is required to provide Community Outreach with all stakeholders to hear <br />and address concerns over parking and construction during and after construction. <br />22. Developer shall reconstruct Sycamore Street between 3rd Street and 4th Street for <br />all modes of transportation at the developer's expense. The reconstruction of <br />Sycamore Street shall be performed according to all zoning, open space, and public <br />right -of -way standards to the satisfaction of the Planning and Building and Public <br />Works Agencies. <br />23. Existing street parking meter and parking activity must remain intact. <br />26. Developer shall provide ground floor, pedestrian - oriented commercial uses as will <br />19K-2 <br />