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ORDINANCE NO. NS -2467 <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING AMENDMENT NO 1 TO <br />DEVELOPMENT AGREEMENT 87-02 BETWEEN THE CITY <br />OF SANTA ANA AND FIRST AMERICAN FINANCIAL <br />CORPORATION <br /> <br />THE CITY COUNCIL OF THE CITY OF SANTA ANA ORDAINS AS FOLLOWS: <br /> <br />Section 1: The City Council hereby finds, determines and declares as follows: <br /> <br />The City is authorized pursuant to Government Code Sections 65868 to <br />amend development agreements with persons having legal or equitable <br />interests in real property for the purpose of establishing certainty for both <br />City and Owner in the development process. <br /> <br />The City enters into this Amendment No. 1 to Development Agreement <br />87-02 pursuant to the provisions of the Government Code and applicable <br />City policies. <br /> <br />First American Financial Corporation's predecessor-in-interest and the City <br />have previously entered into a Development Agreement 87-02 dated <br />January 4, 1988, recorded on June 2, 1988 as Instrument No. 88-260709. <br />This Amendment No. 1 to Development Agreement seeks to extend the <br />duration of the Development Agreement for a portion of the property <br />subject to the Development Agreement to March 3, 2028. <br /> <br />The Planning Commission has, following a public hearing, recommended <br />approval of this Development Agreement. <br /> <br />Entering into Amendment No. 1 to Development Agreement 87-02 would <br />provide the City with extraordinary and significant benefits that are of <br />regional significance, relate to existing deficiencies in public facilities, and <br />represent benefits which would not otherwise be required as part of the <br />development process. <br /> <br />The City Council has held a noticed public hearing on this Ordinance, and <br />has considered all testimony presented thereto. <br /> <br />Ordinance No. NS-2467 <br /> Page 1 of 3 <br /> <br /> <br />