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HomeMy WebLinkAboutItem 2 - PC Avila Ranch DA AmendmentPLANNING COMMISSION AGENDA REPORT SUBJECT: Review of the first amendment to the Development Agreement for the Avila Ranch project, which implements the Avila Ranch Development Plan and related entitlements as evaluated in the Final Environmental Impact Report (EIR) prepared for the project. PROJECT ADDRESS: 175 Venture Drive BY: Michael Codron, Community Development Director FILE NUMBERS: OTHR 0455-2017 FROM: Derek Johnson, City Manager RECOMMENDATION: Adopt a Resolution (Attachment 1) recommending that the City Council introduce and adopt an Ordinance approving the First Amendment to the Development Agreement between the City and Avila Ranch, LLC. SITE DATA Applicant Representative Proposed General Plan and Zoning Site Area Environmental Status Avila Ranch, LLC Stephen Peck, AICP Low, Medium, Medium-High, & High Density Residential (R-1, R-2, R-3, & R-4); Neighborhood Commercial (C-N); Public Facility (PF); & Conservation/Open Space (C/OS) 150 acres On September 19, 2017, the City Council approved Resolution No. 10832 (2017 Series) which certified an Environmental Impact Report (“EIR”) for the Project. The First Amendment to the DA is not a project as defined by CEQA Guidelines Section 15378. SUMMARY Avila Ranch, LLC has as approved Development Agreement (DA) related to its residential development with up to 720 units on a 150-acre site north of Buckley Road within the boundaries of the Airport Area Specific Plan (“AASP”). The approved project plans also include a “Town Meeting Date: March 13, 2019 Item Number: 2 Packet Page 6 Avila Ranch Project (OTHR 0455-2017; 175 Venture Drive) Planning Commission Report – March 13, 2019 Page 2 Center” with 15,000 square feet of neighborhood-serving retail and office uses next to a neighborhood park, as well as the preservation of some of the existing onsite agricultural uses and open space. The project as approved is envisioned to implement the policies and development parameters as articulated in the 2014 Land Use and Circulation Elements (LUCE) update, other elements of the General Plan, the Airport Area Specific Plan, and the City’s Community Design Guidelines. An amendment to the DA is now proposed to address a delay in the completion of an update to the Los Osos Valley Road (LOVR) Interchange Impact Add-On Fee. The City had committed to updating this fee program to reflect the land uses within the Avila Ranch project and changes to other land uses contemplated within the fee program area. Avila Ranch is now ready to record the first phase of its Final Map for the subdivision, however, according to the DA doing so would lock fees in place at their current amounts. Because the current fee structure does not accurately reflect the land uses in the Avila Ranch project, an update to the DA to allow for this fee to be updated in the future is necessary. 1.0 SITE INFORMATION The site is composed of approximately 150 contiguous acres at the northeast corner of Buckley Road and Vachell Lane, and is comprised of three separate parcels: APN 053-259-006, APN 053- 259-004 and APN 053-259-005. 2.0 PLANNING COMMISSION’S PURVIEW The City originally adopted Municipal Code Chapter 17.128 in 1989 to establish procedures and requirements for the City’s processing and administration of Development Agreements. This chapter in the City’s Municipal Code supplements the framework set forth in the State Government Code which authorizes the use of Development Agreements as a planning entitlement tool. Chapter 17.128.190 of the Municipal Code provides the process for amendments to Development Agreements, which is the same process prescribed for initial adoption of a DA (17.128.190): A development agreement may be amended, extended, or canceled, in whole or in part, by mutual consent of all parties to the agreement or their successors in interest. Procedures for amendment, time extensions, or cancellation of the development agreement by mutual consent shall be the same as provided for initiation and consideration of such agreement. (Ord. 1650 § 3 (Exh. B), 2018) The approval process for Development Agreements requires the Planning Commission to make a recommendation to the City Council, in consideration of the following findings (17.128.100): The planning commission shall consider the proposed development agreement and shall make its recommendation to the council. The recommendation shall include whether or not the proposed development agreement meets the following findings: Packet Page 7 Avila Ranch Project (OTHR 0455-2017; 175 Venture Drive) Planning Commission Report – March 13, 2019 Page 3 A. The proposed development agreement is consistent with the general plan and any applicable specific plan; B. The proposed development agreement complies with these zoning regulations, the subdivision ordinance, and other applicable ordinances and regulations; C. The proposed development agreement promotes the general welfare, allows more comprehensive land use planning, and provides substantial public benefits or necessary public improvements, making it in the city’s interest to enter into the development agreement with the applicant; and D. The proposed project and development agreement: 1. Will not adversely affect the health, safety, or welfare of persons living or working in the surrounding area; and 2. Will be appropriate at the proposed location and will be compatible with adjacent land uses. (Ord. 1650 § 3 (Exh. B), 2018) 3.0 PROJECT SUMMARY AND DISCUSSION As previously discussed, an amendment to the Development Agreement is now proposed to address a delay in the completion of an update to the LOVR Interchange Impact Add-On Fee. The City has committed to updating this fee program to reflect the land uses within the Avila Ranch project and changes to other land uses contemplated within the fee program area. This commitment was memorialized in a letter agreement between the City and Avila Ranch dated April 3, 2018 (Attachment 3). It is the intent of the City and the Developer to make development in Avila Ranch subject to the updated LOVR Interchange Impact Fees, and not the current fees. The proposed amendment is provided in its entirety in Exhibit 1 to the Planning Commission Resolution (Attachment 1), and the relevant text changes to Section 5.04.2(b) of the DA are as follows: The Developer shall be required to pay all City-wide, Airport Area Specific Plan, and Project- specific development impact fees, excluding sewer and water impact fees addressed in section 5. 04.2(c) immediately below, for the Project' s fair share of the cost to mitigate Project impacts as identified in the Final Environmental Impact Report (FEIR), Specific Plan, conditions of approval or otherwise specified in the Development Agreement in effect when each final map is recorded in accordance with AB 1600 analysis. City may adjust development impact fees not more than once a year with changes no greater than the inflation index identified upon imposition of the fee. The Developer shall be required to pay the Los Osos Valley Road (" L.O.V.R.") Interchange Impact Fees as revised generally consistent in accordance with the impact fee methodology set forth in the AB 1600 analysis performed in accordance with the April 3, 2018 letter agreement between the City and Developer in the amount at the time of issuance of building permits for each residential and non-residential building. Packet Page 8 Avila Ranch Project (OTHR 0455-2017; 175 Venture Drive) Planning Commission Report – March 13, 2019 Page 4 The City has retained a consultant, Economic and Planning Systems (EPS), to complete the fee program update. The fee program update was contemplated to have occurred during the summer of 2018 but initiation of this fee program update was delayed and is now contemplated to be completed during Summer 2019. 4.0 NEXT STEPS If the Planning Commission recommends that the City Council introduce and adopt an Ordinance approving the First Amendment to the Development Agreement between the City and Avila Ranch LLC, as contained in the attached Resolution (Attachment 1), these are the next steps: • City Council Considers Project. The City Council will review the Planning Commission recommendation and consider the amendment, which would be implemented via an ordinance. • Final Map Phase I Records. After the ordinance goes into effect, the City will move forward to record the first phase of the Avila Ranch Final Map. • AB 1600 Fee Program Update. The update to the LOVR Interchange Add-On Impact Fee Program will continue on its current path towards adoption by the City Council. 5.0 ATTACHMENTS 1) Planning Commission Resolution 2) Development Agreement with Exhibits 3) April 3, 2018, letter agreement between City and Avila Ranch Packet Page 9 RESOLUTION NO. ______ (2019 Series) A RESOLUTION OF THE PLANNING COMMISSION OF THE CITY OF SAN LUIS OBISPO RECOMMENDING THE CITY COUNCIL APPROVE A FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF SAN LUIS OBISPO AND AVILA RANCH, LLC REGARDING THE AVILA RANCH PROJECT, LOCATED AT 175 VENTURE DRIVE (OTHR 0455-2017) WHEREAS, on October 3, 2017, the City of San Luis Obispo (City) adopted Ordinance No. 1639 approving a Development Agreement (the “DA”) between the City and Avila Ranch, LLC (“Developer”) regarding the Avila Ranch project located on a 150-acre site North of Buckley Road (the “Project”); and WHEREAS, Section 5.04.2(b) of the DA needs to be amended because the timing of recordation of the final map for phase 1 of the Project is now anticipated to occur prior to the City’s update to the Los Osos Valley Road (“LOVR”) Interchange Impact Fees; and WHEREAS, it is the intent of the City and Developer to make development in the phase 1 final map area subject to the updated LOVR Interchange Impact Fees, and not the current fees. WHEREAS, the Planning Commission of the City of San Luis Obispo conducted a public hearing on the first amendment to the DA between the City and Developer, on March 13, 2019; and WHEREAS, the Planning Commission hearing was for the purpose of formulating and forwarding recommendations to the City Council of the City of San Luis Obispo regarding the first amendment to the DA between the City and Developer; and WHEREAS, notices of said public hearing were made at the time and in the manner required by law; and WHEREAS, the Planning Commission has duly considered all evidence, including the testimony of the applicant, interested parties, and the evaluation and recommendations by staff, presented at said hearing. BE IT RESOLVED, by the Planning Commission of the City of San Luis Obispo as follows: SECTION 1: Findings. Based on the recitals above and the evidence contained in the record, the Planning Commission hereby finds that: a. The proposed amendment to the DA attached hereto as Exhibit “1” is consistent with the General Plan and the Airport Area Specific Plan; b. The proposed amendment to the DA complies with the City’s zoning regulations, subdivision ordinance and other applicable ordinances and regulations; c. The proposed amendment to the DA implements the spirit and intent of the DA, allows the approved Project to move forward and therefore promotes the general Attachment 1 Packet Page 10 Resolution No. ______ (2019 Series) Avila Ranch Project Page 2 OTHR-0455-2017 welfare, allows more comprehensive land use planning, and provides substantial public benefits or necessary public improvements, making it in the city’s interest to amend the DA; d. The proposed amendment to the DA will not adversely affect the health, safety, or welfare of persons living or working in the surrounding area; and e. Nothing about the amendment to the DA affects the location or the nature or scope of the Project and therefore, as previously determined on October 3, 2017, the Project continues to be appropriate at the proposed location and will be compatible with adjacent land uses. SECTION 2: Action. The Planning Commission does hereby recommend that the City Council approve a first amendment to the Development Agreement between the City and Developer. SECTION 3: CEQA Determination. On September 19, 2017, the City Council approved Resolution No. 10832 (2017 Series) which certified an Environmental Impact Report (“EIR”) for the Project. The Planning Commission finds that Amendment No. 1 to the DA is not a “project” as defined by CEQA Guidelines Section 15378. The Planning Commission further finds and determines that even if Amendment No. 1 to the DA is a project as defined by CEQA, no further environmental review is needed per CEQA Guidelines Section 15162, because Amendment No. 1 to the DA does not involve substantial changes to the project, does not involve substantial changes regarding the circumstances under which the project is undertaken, does not cause any new or more severe significant effects on the environment, and does not affect the feasibility nor materially alter any mitigation measure. Moreover, the Planning Commission hereby determines that Amendment No. 1 to the DA is statutorily exempt from environmental review pursuant to CEQA Guidelines Section 15273. Amendment No. 1 to the DA simply modifies the contractually created vesting status of the LOVR fees that the developer will need to pay which is, in some essence, a restructuring of how LOVR fee will be implemented in regards to the Project and thus statutorily exempt under this section. Furthermore, the Planning Commission finds and determines that Amendment No. 1 to the DA is otherwise exempt from environmental review pursuant to CEQA Guidelines Section 15061(b)(3). The activity is covered by the general rule which exempts activities that can be seen with certainty to have no possibility for causing a significant effect on the environment. Amendment No. 1 to the DA simply affects the contractually created vesting status of the LOVR fees that the developer will need to pay. The amendment does not change anything physical about the Project, does not change any land uses, or the intensity or manner of development. On motion by , seconded by , and on the following roll call vote: AYES: NOES: REFRAIN: ABSENT: The foregoing resolution was passed and adopted this 13th day of March, 2019. Attachment 1 Packet Page 11 Resolution No. ______ (2019 Series) Avila Ranch Project Page 3 OTHR-0455-2017 _____________________________ Xzandrea Fowler, Secretary Planning Commission Attachment 1 Packet Page 12 Resolution No. ______ (2019 Series) Avila Ranch Project Page 4 OTHR-0455-2017 Exhibit 1 Recording Fees Exempt pursuant to Government Code § 27383 Recording Requested by and when recorded return to: City of San Luis Obispo c/o City Clerk 990 Palm Street San Luis Obispo, CA 93401 AMENDMENT NO. 1 TO DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF SAN LUIS OBISPO AND AVILA RANCH, LLC RELATING TO THE AVILA RANCH DEVELOPMENT PLAN This Amendment No. 1 to Development Agreement (“Amendment No. 1”) is entered into this _____ day of ______, 2019, by and between, the City of San Luis Obispo, a municipal corporation and charter city (“City”) and Avila Ranch, LLC, a California limited liability company (“Avila Ranch” or “Developer”), hereinafter referred to in this Amendment No. 1 as “Part y” and collectively as the “Parties,” as appropriate. WHEREAS, on October 3, 2017, City adopted Ordinance No. 1639 approving a Development Agreement (the “DA”) between the City and Avila Ranch, LLC regarding the Avila Ranch project located on a 150-acre site North of Buckley Road (the “Project”); and WHEREAS, Section 5.04.2(b) of the DA needs to be amended because the timing of recordation of the final map for phase 1 of the Project is now anticipated to occur prior to the City’s update to the Los Osos Valley Road (“LOVR”) Interchange Impact Fees. NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: 1. Recitals. The above recitals are true and correct and are incorporated herein by this reference. 2. Effective Date of Amendment. This Amendment No. 1 shall become effective upon the date that the ordinance approving this Amendment No. 1 becomes effective. 3. Amendment: Section 5.04.2(b) of the DA is hereby amended to read as follows: The Developer shall be required to pay all City-wide and Project-specific development impact fees, excluding sewer and water impact fees addressed in section 5. 04.2(c) immediately below, for the Project' s fair share of the cost to mitigate Project Attachment 1 Packet Page 13 Resolution No. ______ (2019 Series) Avila Ranch Project Page 5 OTHR-0455-2017 impacts as identified in the Final Environmental Impact Report (FEIR), Development Plan, conditions of approval or otherwise specified in the Development Agreement in effect when each final map is recorded in accordance with AB 1600 analysis. City may adjust development impact fees not more than once a year with changes no greater than the inflation index identified upon imposition of the fee. The Developer shall be required to pay the Los Osos Valley Road (" L.O.V.R.") Interchange Impact Fees as revised generally consistent with the impact fee methodology set forth in the April 3, 2018 letter agreement between the City and Developer. 4. Except as set specifically modified herein, the DA remains in full force and effect. From and after the effective date of this Amendment No. 1, all references in this Amendment to the DA shall be and be deemed to constitute references to the DA as amended thereby. 5. Counterparts. This Amendment No. 1 may be executed in counterpart, each of which shall be deemed an original but which together shall constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Amendment No. 1 as of the first date above. CITY: By:__________________________ Heidi Harmon, Mayor APPROVED AS TO FORM: By: __________________________ J. Christine Dietrick, City Attorney AVILA RANCH, LLC By: ___________________________ Andrew D. Mangano Its: Managing Member Attachment 1 Packet Page 14 183247.1 Recording Fees Exempt Pursuant to Government Code § 27383. Recording Requested By And When Recorded Mail to: City of San Luis Obispo c/o City Clerk 990 Palm Street San Luis Obispo, California 93401 DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF SAN LUIS OBISPO AND AVILA RANCH, LLC RELATING TO THE AVILA RANCH SPECIFIC PLAN (The “AVILA RANCH DEVELOPMENT AGREEMENT”) As Adopted by the San Luis Obispo City Council on October 3, 2017 by Ordinance No. 1639 (2017 Series) Attachment 2 Packet Page 15 i 183247.1 TABLE OF CONTENTS RECITALS AND DEFINITIONS .................................................................................................. 1  AGREEMENT ................................................................................................................................ 4  ARTICLE 1. GENERALLY .......................................................................................................... 4  Section 1.01. Definition of “Avila Ranch” ............................................................ 4  Section 1.02. Effective Date .................................................................................. 4  Section 1.03. Term ................................................................................................. 4  Section 1.04. Execution and Recordation of Agreement ....................................... 5  ARTICLE 2. DESCRIPTION OF THE PROJECT ........................................................... 6  Section 2.01. In General ......................................................................................... 6  Section 2.02. Project Approvals............................................................................. 6  Section 2.03. Subsequent Approvals ..................................................................... 6  Section 2.04. Subsequent Approval Documents .................................................... 6  Section 2.05. Approvals ......................................................................................... 6  ARTICLE 3. DEVELOPMENT OF PROJECT IN GENERAL ....................................... 7  Section 3.01. Consideration to Avila Ranch .......................................................... 7  Section 3.02. Consideration to City ....................................................................... 7  Section 3.03. Rights of Avila Ranch Generally ..................................................... 7  Section 3.04. Rights of City Generally .................................................................. 8  Section 3.05. Project Parameters ........................................................................... 8  ARTICLE 4. APPLICABLE LAW ................................................................................... 8  Section 4.01. In General ......................................................................................... 8  Section 4.02. Application of Other City Laws ....................................................... 8  Section 4.04. State and Federal Law ...................................................................... 9  ARTICLE 5. FINANCIAL COMMITMENTS OF CITY AND AVILA RANCH........... 9  Attachment 2 Packet Page 16 ii 183247.1 Section 5.01. In General .......................................................................................... 9  Section 5.02.Basic Principles .................................................................................. 9  Section 5.02.2. Financing of Infrastructure; Operation and Maintenance ........... 10  Section 5.03. Establishment of Financing Mechanisms ...................................... 11  Section 5.04. Imposition of and Increases in Fees, Taxes, Assessments and Other Charges..................................................................................... 12  Section 5.05. Other Commitments of City and Avila Ranch Related to Financing................................................................................................... 14  Section 5.05.4. Other Shortfalls of City ............................................................... 17  ARTICLE 6. COMMITMENTS OF CITY AND AVILA RANCH RELATED TO PUBLIC IMPROVEMENTS ............................................................................................ 18  Section 6.01. Backbone Infrastructure Phasing Plan ............................................ 18  Section 6.02. Construction and Dedication of Project Facilities and Infrastructure ............................................................................................. 18  Section 6.03. Dedications .................................................................................... 19  Section 6.04. Cooperation with Respect to Project Facilities and Infrastructure ............................................................................................. 19  ARTICLE 7. OTHER COMMITMENTS OF CITY AND AVILA RANCH ................. 21  Section 7.01. Mutual Cooperation for Other Governmental Permits .................. 21  Section 7.02. Timing of Development ................................................................. 21  Section 7.03. Dedication of Park Lands ................................................................ 22  Section 7.04. Dedication of Open Space and Agricultural Lands ........................ 22  Section 7.05. Affordable Housing and Workforce Housing ................................ 23  Section 7.07. Energy ............................................................................................. 23  Section 7.08. Water. .............................................................................................. 23  Section 7.09. Storm Drain Facilities ..................................................................... 24  Section 7.10. Interim Fire Station ......................................................................... 24  Attachment 2 Packet Page 17 iii 183247.1 Section 7.11. Traffic and Circulation Improvements ........................................... 24  Section 7.12. Bicycle and Multimodal Transportation Improvements ................ 25  Section 7.13. Miscellaneous ................................................................................. 25  ARTICLE 8. CONSIDERATION OF PERMITS AND APPROVALS .......................... 26  Section 8.01. In General. .................................................................................................. 26  Section 8.02. General Plan and AASP Amendments .......................................... 27  Section 8.03. CEQA Compliance. .................................................................................... 27  Section 8.04. Life of Approvals ........................................................................... 27  Section 8.05. Vesting Maps ................................................................................. 27  Section 8.06. Need for Flexibility ........................................................................ 27  ARTICLE 9. AMENDMENTS ....................................................................................... 28  Section 9.01. Amendments of Agreement. ...................................................................... 28  ARTICLE 10. ANNUAL REVIEW ................................................................................ 28  Section 10.01. Annual Review............................................................................. 28  ARTICLE 11. MITIGATION MONITORING AND REPORTING PROGRAM EVALUATION; DEVELOPMENT AGREEMENT REVIEW ........................... 29  Section 11.01. Mitigation Monitoring and Reporting Program Evaluation. .................... 29  Section 11.02. Development Agreement Review ................................................ 29  ARTICLE 12. DEFAULT, REMEDIES, TERMINATION OF DEVELOPMENT AGREEMENT ...................................................................................................... 30  Section 12.01. Defaults. ....................................................................................... 30  Section 12.01.1. Notice and Cure. ....................................................................... 30  Section 12.01.2. Actions during Cure Period. ..................................................... 30  Section 12.02. Remedies of Non-Defaulting Party. ............................................. 30  Section 12.03. Termination Due to Default. ........................................................ 32  Section 12.03.2. Procedures for Termination. ..................................................... 32  Attachment 2 Packet Page 18 iv 183247.1 ARTICLE 13. ASSIGNMENT, TRANSFER AND NOTICE ........................................ 33  Section 13.02. Transfers In General. ................................................................... 33  Section 13.02.02. City Review of Release Provisions. ........................................ 33  ARTICLE 14. MORTGAGEE PROTECTION ............................................................... 34  ARTICLE 15. GENERAL PROVISIONS ...................................................................... 35  Section 15.01. Incorporation of Recitals and Exhibits ........................................ 35  Section 15.02. Project is a Private Undertaking .................................................. 36  Section 15.03. Cooperation in the Event of Legal Challenge. ......................................... 36  Section 15.04. Defense and Indemnity ................................................................ 36  Section 15.05. Governing Law; Attorneys’ Fees ................................................. 37  Section 15.06. Force Majeure .............................................................................. 37  Section 15.07. Waiver .......................................................................................... 37  Section 15.08. Notices ......................................................................................... 38  Section 15.09. No Joint Venture or Partnership .................................................. 39  Section 15.10. Severability .................................................................................. 39  Section 15.11. Estoppel Certificate ...................................................................... 39  Section 15.12. Further Assurances....................................................................... 39  Section 15.13. Construction. ............................................................................................ 39  Section 15.14. Other Miscellaneous Terms ......................................................... 40  Section 15.15. Counterpart Execution ................................................................. 40  Section 15.16. Time ............................................................................................. 40  Section 15.17. Good Faith/Fair Dealing .............................................................. 40  Section 15.18. Exhibits. ................................................................................................... 40  Attachment 2 Packet Page 19 1 183247.1 DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF SAN LUIS OBISPO AND AVILA RANCH, LLC RELATING TO THE AVILA RANCH DEVELOPMENT PLAN THIS DEVELOPMENT AGREEMENT is entered into this 2nd day of November, 2017 (“Execution Date”), by and between the CITY OF SAN LUIS OBISPO, a municipal corporation and charter city (“City”), and AVILA RANCH, LLC, a California limited liability company (“Avila Ranch” or “Developer”), hereinafter referred to in this Development Agreement individually as a “Party” and collectively as the “Parties,” as appropriate. RECITALS AND DEFINITIONS A. The “Project,” as referenced in this Development Agreement, consists of the development of housing, neighborhood commercial buildings, parks, agricultural and open space uses, and various public infrastructure facilities located within the Avila Ranch subarea of the Airport Area Specific Plan area on the southwestern boundary of the City, as more particularly described and defined in Section 2.01 below. B. The “Property,” as referenced in this Development Agreement, consists of approximately 150 acres of land that has been designated for development as part of the Airport Area Specific Plan (the “AASP Area”). The property comprising the Property is more fully shown on Exhibit A attached hereto and incorporated herein by this reference. Exhibit B attached hereto sets forth the legal description for the Property. Avila Ranch represents and warrants to City that as of the Execution Date, Avila Ranch has a legal or equitable interest in the Property. C. Upon the effective date of the City ordinance approving this Development Agreement, this Development Agreement becomes Effective, as defined in Section 1.02 below, as to the Property and the City will record it against the Property. D. On December 9, 2014, City adopted an update to the Land Use and Circulation Elements of the City’s General Plan that included the AASP Area. The City’s General Plan designates the Property for a variety of land uses including residential, neighborhood commercial, open space, and agricultural, and provides for the development of these uses so as to benefit the City and its residents E. City and Avila Ranch have engaged in a cooperative and successful relationship to establish a development plan for the Property (the “Development Plan”). These efforts have culminated in the City’s adoption and approval of the following entitlements: (1) The Final Environmental Impact Report and associated Mitigation Monitoring and Reporting Plan (including all mitigation measures therein) for the project certified and adopted, respectively, by Resolution No. 10832 (2017 Series), on September 19, 2017. Attachment 2 Packet Page 20 2 183247.1 (2) The Amendment to Airport Area Specific Plan as amended by Resolution No. 10832 (2017 Series), adopted September 19, 2017. (3) The City’s zoning map as amended by Ordinance No. 1638 (2017 Series), adopted October 3, 2017. (4) The Development Plan approved by Resolution No. 10832 (2017 Series), on September 19, 2017. (5) Vesting Tentative Tract Map #3089 (Avila Ranch) approved by Resolution No. 10832 (2017 Series), on September 19, 2017. (6) Ordinance No. 1639 (2017 Series) dated October 3, 2017 adopting this Development Agreement (“the Adopting Ordinance”). (7) The amendment to the City General Plan, as amended by Resolution No. by Resolution No. 10832 (2017 Series), on September 19, 2017. (8) The conditions of approval of each of the foregoing. These approvals described in this Recital E, together with the Environmental Impact Report and related Findings, Statement of Overriding Considerations and Mitigation Monitoring and Reporting Plan described in Recital F below, are referred to herein, collectively, as the “Entitlements” or “Project Entitlements.” F. Before approving the Entitlements described in Recital E above, the City Council of the City of San Luis Obispo: (i) reviewed and considered the significant environmental impacts of the Project and several alternatives to the Project, as described in that certain Final Environmental Impact Report (the “Project EIR”) and (ii) adopted Resolution No. No. 10832 (2017 Series), on September 19, 2017 to certify the Project EIR, making Findings Concerning Mitigation Measures and Alternatives (the “Findings”), adopting a Statement of Overriding Considerations, and adopting a Mitigation Monitoring and Reporting Plan (the “MMRP”), all in accordance with the provisions of the California Environmental Quality Act, California Public Resources Code section 21000 et seq. (“CEQA”). G. One of the principal purposes of this Development Agreement is to further the cooperative relationship between City and Avila Ranch for the benefit of all residents of San Luis Obispo during the implementation of the Project. The City and Avila Ranch join as Parties to this Development Agreement to ensure the requirements of the Development Agreement Statute (California Government Code section 65864 et. seq.) are satisfied. As more fully set forth below, this Development Agreement contains both covenants of a personal nature and covenants and/or servitudes that run with title to the Property. H. This Development Agreement is based upon and was written to achieve these purposes: Attachment 2 Packet Page 21 3 183247.1 (1) that the City shall be kept and/or made “whole” by Avila Ranch as to the Property and by other property owners with respect to their respective properties with respect to all aspects (e.g., fiscal impacts, etc.) of the planning, development, maintenance and operation of the AASP Area including, among other things, the costs to the City of providing the Project with public services and facilities, the payment of City’s costs associated with the implementation of the Development Agreement, the Entitlements, all other planning and environmental efforts described and envisioned by the Development Agreement, the Subsequent Approvals (as defined in Section 2.04 below) and the Project, and the mitigation of the Project’s environmental impacts. (2) that once this Development Agreement has taken legal effect, Avila Ranch shall have a full and vested right, throughout the term of this Development Agreement, to the Rights and Obligations as to the Property; (3) that this Development Agreement is intended to reduce the uncertainty in planning and implementation for and, and to secure the orderly development of, the Project, ensure a desirable and functional community environment, provide effective and efficient development of public facilities, infrastructure and services appropriate for the development of the Project, ensure maximum effective utilization of resources within the City, and provide other significant benefits to the City and its residents; (4) to secure Project features and Development conditions above and beyond those that may be levied by the City under existing zoning and development regulations and the FEIR; (5) to provide Developer with a reliable and definitive form of reimbursement for offsite and onsite infrastructure beyond its fair share; (6) that this Development Agreement is intended to be consistent with and to implement the City’s General Plan, and more particularly the achievement of the community’s development objectives for the Property as set forth in Policy 8.1.6 of the Land Use Element; (7) that the development of the Project will enable the City to capture sales taxes that are being leaked to other communities because of the jobs-housing imbalance; (8) that the development of the Project would result in the capture of an estimated 540 households that commute to jobs in San Luis Obispo, resulting in the reduction of Countywide vehicle miles traveled for those trips by approximately 4.0 million miles per year; and (9) that the value of the obligations of the Developer pursuant to this Development Agreement are anticipated to be above and beyond those necessary to serve the Project. Attachment 2 Packet Page 22 4 183247.1 The Rights and Obligations of the Parties to this Development Agreement shall be construed and interpreted so as shall give full effect to each and all of these purposes. I. As used in this Development Agreement, “Rights” shall mean all of the vested and other rights and benefits of the Development Agreement, and the term “Obligations” shall mean all of the duties, obligations, responsibilities and other burdens of the Development Agreement. References to lot numbers in this Development Agreement refer to lots as numbered in Vesting Tentative Tract Map. No. 3089 dated April 26, 2017. J. As used in this Development Agreement, the terms, phrases and words shall have the meanings and be interpreted as set forth in this Development Agreement (the meaning given the term in the singular shall include the term in the plural and vice versa) unless the context clearly indicates the Parties intended another meaning. To the extent that any capitalized terms contained in this Development Agreement are not defined within it, then such terms shall have the meaning ascribed to them in the City Laws, other applicable law or, if no meaning is given a term in any of those sources, the common understanding of the term shall control. AGREEMENT NOW, THEREFORE, in consideration of the promises, covenants and provisions set forth in this Development Agreement, the Parties hereby agree as follows: ARTICLE 1. GENERALLY Section 1.01. Definition of “Avila Ranch.” As used herein, “Avila Ranch” means Avila Ranch, LLC, as that business entity existed on the Effective Date and any permitted successor, assign, or transferee of Avila Ranch, LLC. Section 1.02. Effective Date. This Development Agreement is entered into by and between the City and Avila Ranch and takes legal effect on November 2, 2017, the date that Ordinance No. 1639 (2017 Series) approving the Development Agreement takes legal effect (“Effective Date”). The terms and conditions of this Development Agreement shall be for the benefit of or a burden upon the Property, shall run with title to the Property, and shall be binding upon Avila Ranch and its permitted successors, assigns and transferees during their respective ownerships of any portion of the Property. Section 1.03. Term. Section 1.03.1. In General. (a) The term of this Development Agreement shall commence upon the Effective Date and shall continue until, and terminate upon, the earliest of the following dates (“Termination Date”): Attachment 2 Packet Page 23 5 183247.1 (1) 12:01 a.m. on the anniversary of the Effective Date, 2037, unless Avila Ranch requests, and the City approves, an extension of the Term for an additional 10- year period, in which case the Termination Date shall be 12:01 on the anniversary of the Effective Date, 2047. Such request for extension shall be submitted, in writing, to the City Manager at least 180 days, but no earlier than 365 days, before the 2037 Termination Date. The City may deny the request if Avila Ranch is not in compliance with all of its Obligations under this Development Agreement; (2) 12:01 a.m. on the anniversary of the Effective Date, 2024, should Avila Ranch fail to substantially complete the Backbone Infrastructure for Phases 1 and 2 of the Project in accordance with the Project’s Phasing Plan as set forth in Section 6.01, below. As used herein, “substantially complete” means that all of the Backbone Infrastructure required for Phases 1 and 2 listed in the phasing schedule is actively under construction and is being diligently prosecuted to completion, with all bonds in place. (3) This Development Agreement may be terminated with respect to the property included in a recorded final subdivision map creating residential lots on any portion of the Property, provided that no further on-site or off-site infrastructure is required and no conditions remain to be satisfied before building permits can be issued for the development of lots depicted on that map. Concurrently with or following recordation of such a subdivision map as to any portion of the Property, Avila Ranch may request in writing and the Community Development Director shall not unreasonably withhold a certificate of termination of this Development Agreement, in recordable form, solely as to the property included in such a final recorded map which meets the foregoing requirements; provided that no such certificate need issue if obligations to the City under this Development Agreement remain unfulfilled which are not made conditions of the approval of the subdivision map. Upon the Community Development Director’s recordation of such a certificate, this Development Agreement shall terminate as to the land covered by such final map. If Avila Ranch does not request or the Community Development Director does not issue such a certificate, this Development Agreement shall continue to apply to any lot depicted on such a subdivision map until this Development Agreement otherwise expires or terminates according to its terms. (b) This Development Agreement shall be of no further force, effect or operation upon the Termination Date. Subject to the provisions of Section 8.04 below, in no event shall the expiration or termination of this Development Agreement result in expiration or termination of any Approval without further action of City. Section 1.04. Execution and Recordation of Agreement. Section 1.04.1. Execution and Recordation. Avila Ranch shall execute this Development Agreement, in conformance with Section 15.15 of this Development Agreement, within five business days of date of adoption of the Adopting Ordinance referenced in Recital E above. Attachment 2 Packet Page 24 6 183247.1 Provided Avila Ranch has so executed this Development Agreement, City shall execute this Agreement, in conformance with Section 15.15 of this Agreement, within five business days of execution of this Development Agreement by Avila Ranch. Section 1.04.2. Recordation. City shall deliver this Development Agreement to the County Recorder for recordation within 10 days following its execution. ARTICLE 2. DESCRIPTION OF THE PROJECT Section 2.01. In General. As used herein, “Project” means the development of the Property as described in the “Project Approvals” (defined in Section 2.02 below), including all on-site and off-site “Project Facilities and Infrastructure” (defined in Section 5.02.1 below). Section 2.02. Project Approvals. As used herein, “Project Approvals” include, but are not limited to: (i) those provisions of City’s General Plan that relate to or affect the Property, as the General Plan existed on the Effective Date and as it may be amended from time to time consistently with this Development Agreement (the “General Plan”), (ii) those provisions of the Development Plan (including the Design Guidelines) that relate to or affect the Property, as incorporated into the Specific Plan, as the Development Plan existed on the Effective Date and as it may be amended from time to time consistently with this Development Agreement (the “Development Plan”), (iii) the zoning of the Property, as it existed on the Effective Date and as it may be amended from time to time consistently with this Development Agreement thereafter (the “Zoning”) and (iv) the other entitlements listed in Recital E above; provided that “Project Approvals” shall not mean or include amendments to the General Plan, AASP or Zoning of the Property that conflict with the Project Approvals as they existed on the Effective Date unless Avila Ranch consents in writing to such conflicting amendments. Section 2.03. Subsequent Approvals. As used herein, “Subsequent Approvals” mean those permits and approvals (other than the Project Approvals and amendments thereto) necessary or desirable for the development of the Project including, without limitation, those identified in Section 2.04 below. Section 2.04. Subsequent Approval Documents. The “Subsequent Approvals” defined in Section 2.03 above include, but are not limited to: (i) subdivision maps and related or similar approvals issued under the California Subdivision Map Act, (ii) development permits (including Site Plan Reviews and Conditional Use Permits as described in the Specific Plan), (iii) architectural review and design review approvals (as described in the Specific Plan), (iv) any other discretionary or ministerial permits or approvals of City necessary or appropriate for build- out of the Project and Property, and (vi) any amendments to any of the foregoing necessary or appropriate for the development of the Project. Section 2.05. Approvals. Project Approvals, amendments to Project Approvals, and Subsequent Approvals are sometimes referred to in this Development Agreement collectively as the “Approvals” and each individually as an “Approval.” Attachment 2 Packet Page 25 7 183247.1 ARTICLE 3. DEVELOPMENT OF PROJECT IN GENERAL Section 3.01. Consideration to Avila Ranch. The Parties acknowledge and agree that City’s agreement to perform and abide by the covenants and Obligations of City set forth herein is material consideration for Avila Ranch’s agreement to perform and abide by the covenants and Obligations of Avila Ranch set forth herein. Section 3.02. Consideration to City. The Parties acknowledge and agree that Avila Ranch’s agreement to perform and abide by the covenants and Obligations of Avila Ranch set forth herein is material consideration for City’s agreement to perform and abide by the covenants and Obligations of City set forth herein. Section 3.03. Rights of Avila Ranch Generally. Avila Ranch shall have a fully vested right to develop the Project and to use the Property consistently with this Development Agreement and Applicable Law. (a) During the Term of this Development Agreement, the Developer shall have a vested right to develop the Property to the full extent permitted by the Entitlements and this Development Agreement. Except as provided within this Development Agreement, the Entitlements shall exclusively control the development of the Property, including the uses of the Property, the density or intensity of use, the maximum height and size of proposed buildings, the provisions for reservations or dedications of land for public purposes and the design, improvement and construction standards and specifications applicable to the Project. The maximum number of residential units authorized to be constructed hereunder and the approximate acreage of commercial development is 720 residential units and approximately 15,000 square feet of commercial development. In furtherance of the foregoing, the Developer retains the right to apportion the uses, intensities and densities, between itself and any other owners of the Property, upon the sale, transfer or assignment of any portion of the Property, so long as such apportionment is consistent with the Entitlements and this Development Agreement. (b) Subject to the City’s exercise of its police power authority the Developer shall have a vested right to: (i) receive from the City all future development approvals for the Property that are consistent with and implement the Entitlements and this Development Agreement; (ii) not have such approvals be conditioned or delayed for reasons which are inconsistent with the Entitlements or this Development Agreement; and (iii) develop the Property in a manner consistent with such approvals in accordance with the Entitlements and this Development Agreement. All future development approvals for the Property, including without limitation general plan amendments, zoning changes, or parcel maps or tract maps, shall upon approval of the City be vested in the same manner as provided in this Development Agreement as for the Entitlements. Attachment 2 Packet Page 26 8 183247.1 Section 3.04. Rights of City Generally. City shall have a right to regulate development of the Project and use of the Property consistently with this Development Agreement and Applicable Law. Section 3.05. Project Parameters. The permitted uses of the Property, the density and intensity of use of the Property, the maximum height and size of buildings included in the Project, and provisions for the reservation and dedication of land shall be as set forth herein and in the Project Approvals. ARTICLE 4. APPLICABLE LAW Section 4.01. In General. Section 4.01.1. Applicable Law Defined. Except as the Parties may otherwise agree, the rules, regulations and official policies applicable to the Project and the Property during the Term of this Development Agreement shall be those set forth in this Development Agreement and, except as otherwise set forth herein, the rules, regulations and official policies of City (including the plans, municipal codes, ordinances, resolutions and other local laws, regulations, capital facilities fees and policies of City) in force and effect on the Effective Date (collectively, “Applicable Law”). Section 4.01.2. Approvals as Applicable Law. Applicable Law shall include, without limitation, Approvals as they may be issued from time to time consistently with this Agreement. Section 4.02. Application of Other City Laws. Section 4.02.1. No Conflicting City Laws. (a) City may apply to the Project and the Property any rule, regulation or official policy of City (including any plan, municipal code, ordinance, resolution or other local law, regulation, capital facility fee or policy of City) (each a “City Law”) that does not conflict with Applicable Law or this Agreement. City shall not, however, without the written consent of Avila Ranch apply to the Project or the Property (whether by initiative, referendum, imposition of mitigation measures under CEQA or otherwise) any City Law that is in conflict with Applicable Law or this Agreement. (b) If City attempts to apply to the Project a City Law which Avila Ranch believes to conflict with Applicable Law or this Agreement, Avila Ranch shall give City written notice describing the legal and factual basis for Avila Ranch’s position. The Parties shall meet and confer within 30 days of City’s receipt of such written notice to seek to resolve any disagreement. If no mutually acceptable solution can be reached, either Party may take such action as may be permitted under Article 12 below. Section 4.03. Uniform Codes and Standard Specifications. Attachment 2 Packet Page 27 9 183247.1 (a) Nothing herein shall prevent City from applying to the Project standards contained in uniform building, construction, fire or other uniform codes, as the same may be adopted or amended from time to time by City, provided that the provisions of any such uniform code shall: (1) Apply to the Project only to the extent that such code is in effect on a City- wide basis; and (2) With respect to those portions of any such uniform code that have been adopted by City without amendment, be interpreted and applied consistently with the generally prevailing interpretation and application of such code in California. (b) Nothing herein shall prevent City from applying to the Project standards and specifications for public improvements (e.g., streets, storm drainage, parking lots, and driveway widths) adopted or amended from time to time by City, provided that such standards and specifications shall apply to the Project and the Property only to the extent that they are in effect on a City-wide basis. Section 4.04. State and Federal Law. (a) Nothing herein shall prevent City from applying to the Project or the Property any change in City Law required by: (i) state or federal law; or (ii) any governmental agency that, due to the operation of state law (and not the act of City through a memorandum of understanding, joint exercise of powers or other agreement entered into after the Effective Date), has binding legal authority on City. (b) If the application of such changes prevents or precludes performance of one or more provisions of this Development Agreement, City and Avila Ranch shall take any and all such actions as may be necessary or appropriate to ensure the provisions of this Development Agreement shall be implemented to the maximum extent practicable. ARTICLE 5. FINANCIAL COMMITMENTS OF CITY AND AVILA RANCH Section 5.01. In General. This Article 5 establishes a framework for the imposition and allocation to the extent permitted by law of fees, taxes, assessments and other revenues to be generated and/or paid by the Project and/or the Property. The provisions of this Article 5 are intended to prevent the Project from resulting in negative fiscal impacts on City as determined by the fiscal impact analysis prepared for the Project; to facilitate the construction, operation and maintenance of infrastructure and facilities to avoid or limit the physical impacts of development; and to assist in the development of the Project so as to provide long-term fiscal and other benefits to City, including increased employment opportunities, an increased tax base and revenues to City, and an enhanced quality of life for the City’s residents. Section 5.02. Basic Principles. Attachment 2 Packet Page 28 10 183247.1 Section 5.02.1. General. (a) This Article 5 is intended to serve two basic purposes: first, that there shall be no cost to City for the construction of the fair share allocation of public facilities and infrastructure needed to serve the Project or the Property or for the provision of municipal services to the Project or the Property, including the operation and maintenance of facilities and infrastructure to serve the Project (collectively, the “Project Facilities and Infrastructure”); and second, that all costs associated with the construction of Project Facilities and Infrastructure, and the provision of municipal services to the Project and the Property (including the operation and maintenance of Project Facilities and Infrastructure) shall be borne by the Project alone. (b) The cost of providing Project Facilities and Infrastructure to the Project or the Property shall be consistent with the following principles: Except as otherwise specifically permitted by this Development Agreement and not in limitation of any other provisions hereof, (i) there shall be a reasonable relationship between any municipal cost required to be borne by the Project and the type of development within the Project to which such cost is attributable; (ii) there shall be a reasonable relationship between the need to incur any such municipal cost and the type of development within the Project to which such cost is attributable; (iii) no municipal cost required to be borne by the Project shall exceed the estimated reasonable cost of providing the service or facility to which such municipal cost relates; and (iv) with respect to any fee required to finance Project Facilities and Infrastructure, there shall be a reasonable relationship between the amount of the fee and the cost of the Project Facilities and Infrastructure funded by such fee. Wherever this Development Agreement requires a “reasonable relationship” between the Project and any requirement imposed thereon, there shall be required an essential nexus between the Project and such requirement and rough proportionality in the allocation of a municipal cost or fee both internally to various portions of the Property and as between the Project and other projects within the City. (c) As used herein, the term “Project Facilities and Infrastructure” shall include public facilities and infrastructure only to the extent they serve the Project, and shall not include public facilities or infrastructure to the extent such facilities or infrastructure serve projects or areas other than the Project or the Property, unless the public facilities and infrastructure serving the Project or Property are required to be oversized to serve other projects or areas in accordance with the provisions of Section 6.02.2 below. Section 5.02.2. Financing of Infrastructure; Operation and Maintenance. Prior to or concurrent with the adoption of this Development Agreement City shall consider in good faith establishing and forming a mechanism or mechanisms to finance Project Facilities and Infrastructure and Project-related municipal services or the operation and maintenance portion of Attachment 2 Packet Page 29 11 183247.1 the Project Facilities and Infrastructure, such as a Mello-Roos District, Landscaping and Lighting Districts, or other Maintenance Assessment Districts, in accordance with the following principles: (1) The level of municipal services provided to the Project, including the level of operation and maintenance of Project Facilities and Infrastructure, shall be at least equal or superior to the level of service provided elsewhere in the City. (2) Any costs associated with such mechanism shall be borne by the Project, which may be reimbursed by the financing mechanism. (3) The City may require as a condition of approval of a tentative subdivision or parcel map a financing mechanism or mechanisms to finance the operation and maintenance of Project Facilities and Infrastructure. (4) In accordance with and subject to Section 7.13.1 below, Avila Ranch shall include within the Covenants, Conditions and Restrictions (CC&Rs) required for each subdivision of the Property a requirement that the Master Homeowners’ Association, and or each Homeowners’ Association for a subdivision within the Property (each, an “HOA”), shall assume responsibilities to maintain, repair and insure the following items in the event that such financing mechanism is dissolved or in the event that the fees, assessments, or taxes generated thereby are repealed or reduced other than by discretionary action by the City Council. In such event the HOA shall assume responsibility to maintain, repair and insure for the publiclyowned facilities within the Property (as to a Master HOA) or subdivision (as to another HOA), including but not limited to, Parks A through F, H and I, and “Stevenson Park”; landscaped parkways and trees; low-impact-development treatment facilities; and riparian open space, but expressly shall not assume responsibility to maintain, repair and insure streets, curbs, gutters, sidewalks, regional park (Park G), farmed agricultural open space, landscape paseos connecting the public parks, retaining walls adjacent to the open space corridors, bike paths, bike path bridges and bike path facilities (including bike paths and bike path facilities in the County). Avila Ranch shall include the City as a third- party beneficiary of these CC&Rs in language acceptable to the City Attorney, which shall grant the City the right to perform the maintenance, repair and insurance obligations and to impose assessments against the affected parcels in the event an HOA fails to perform its obligations under this subparagraph (4). Section 5.03. Establishment of Financing Mechanisms. Section 5.03.1. Procedures for Establishment. The establishment of any mechanism to finance the operation or maintenance of Project Facilities and Infrastructure (each a “Financing Mechanism”) shall be initiated upon Avila Ranch’s written request to the City’s Finance Director. Such request shall outline the purposes for which the Financing Mechanism is to be established and the general terms and conditions upon which the establishment of the Financing Mechanism will be based. City’s consideration of Avila Ranch’s request shall be consistent with Attachment 2 Packet Page 30 12 183247.1 the criteria set forth in Section 5.02 above. If Avila Ranch requests the City form a Mello-Roos Community Facilities District to finance the operation or maintenance of Project Facilities and Infrastructure, City shall use its best efforts to cause such district to be formed and special taxes to be levied to the extent permitted by Applicable Law. Section 5.03.2. Nature of City Participation. City’s participation in the formation of any Financing Mechanism approved by City (and its operation thereafter) and in the issuance of any Project Debt approved by the City shall include all of the usual and customary municipal functions associated with such tasks including, without limitation, the formation and administration of special districts; the issuance of Project Debt; the monitoring and collection of fees, taxes, assessments and charges such as utility charges; the creation and administration of enterprise funds; the enforcement of debt obligations and other functions or duties authorized or mandated by Applicable Law. Section 5.04. Imposition of and Increases in Fees, Taxes, Assessments and Other Charges. Section 5.04.1. Taxes and Assessments. (a) During the Term of this Development Agreement, Avila Ranch shall be bound to and shall not protest, challenge, or cause to be protested or challenged, any City tax in effect on the Effective Date. (b) No assessment shall be imposed on the Project or the Property other than through a Financing Mechanism as set forth above. (c) No new debt shall be issued that affects the Project or the Property without Avila Ranch’s approval, unless such debt otherwise conforms with the requirements of Articles XIII C and D of the California Constitution and any requisite voter approval is achieved, in which case the City may issue debt even if Avila Ranch votes against the matter. Section 5.04.2. Other Fees and Charges; Credits and Reimbursements. (a) City shall impose against or apply to the Project or the Property only those financial obligations (other than taxes and assessments) described in this Section 5.04.2. Except as otherwise specifically stated below, any financial obligation imposed against or applied to the Project under this Section 5.04.2 shall be consistent with the provisions of controlling California law, including California Government Code section 66000 et seq. and California Constitution, article XIII A and its implementing statutes. (b) The Developer shall be required to pay all City-wide, Airport Area Specific Plan, Los Osos Valley Road (“L.O.V.R.”) Interchange Impact Fees, and Project-specific development impact fees, excluding sewer and water impact fees addressed in section 5.04.2(c) immediately below, for the Project’s fair share of the cost to mitigate Project impacts as identified in the Final Environmental Impact Report Attachment 2 Packet Page 31 13 183247.1 (FEIR), Specific Plan, conditions of approval or otherwise specified in the Development Agreement in effect when each final map is recorded in accordance with AB1600 analysis. City may adjust development impact fees not more than once a year with changes no greater than the inflation index identified upon imposition of the fee. (c) The Developer shall be required to pay sewer and water impact fees in accordance with the AB1600 analysis in effect when each Final Map is recorded plus any adjustments based on CPI until issuance of each building permit. Subsequent payments shall be adjusted annually by the inflation index identified upon imposition of the fee as determined by the City. (d) Fees imposed by City, including but not limited to planning, engineering, building permit, fire plan check and development impact fees, but excluding sewer and water impact fees governed by section 5.04.2(c) immediately above, shall be in accordance with the fees in effect as of the date of when the Final Map is recorded plus any adjustments based on the inflation index identified upon imposition of the fee until issuance of each building permit. (e) If the City amends any existing Development Impact Fee (DIF) program to include additional projects or costs for the benefit of the Project (either new projects or increased costs for projects included in the analysis supporting existing fees) for improvements necessary to satisfy Project requirements, Developer will be required to pay the amended fees. Credits applied towards infrastructure costs advanced by Developer shall apply when building permits are issued or fees are otherwise due and shall arise only from Developer-funded construction of infrastructure or community facilities included in the project list on which a particular fee was based. Credits applied when building permits are issued or fees are otherwise due pursuant to this section shall be adjusted for inflation consistently with such adjustments of the fees against which credits are allowed. (f) The Developer shall pay all then-current processing fees for any subsequent planning applications and permits as adopted by the City Council. (g) City acknowledges that Developer may dedicate property and install infrastructure improvements beyond its “fair share” cost. The City agrees to grant fee credits and reimbursements, funded by Development Impact Fees paid by Developer and other developers, and traffic impact fees, where eligible, but excluding sewer and water impact fees. If and to the extent that the Developer constructs or installs any infrastructure and/or facilities that have a capacity or size in excess of that required to serve the Project or mitigate its impacts, and one or more undeveloped properties will be benefitted by such infrastructure and facilities, the City shall enter into a reimbursement agreement with the Developer, in a form mutually acceptable to City and Developer, which provides for the reimbursement of all excess costs and expenses incurred by the Developer in constructing such improvements in accordance with California Government Code Attachment 2 Packet Page 32 14 183247.1 section 66485 et seq. and section 16.20.110 of the City’s municipal code, the City’s zoning ordinance, and in accordance with Section 5.05.3 below. (h) The City’s rates for monthly retail utility service (e.g., water and sewer) may be applied to the Project and increased from time to time during the term of this Development Agreement; provided, however, that any such increase shall be imposed only to the extent permitted by law. (i) Avila Ranch shall pay City reasonable staff and consultant time and other reasonable costs (including reasonable consultant costs) associated with: (i) the MMRP Evaluation and the Development Agreement Review, (ii) the establishment of any Financing Mechanism (to the extent such costs are not included in the Financing Mechanism), including any necessary election costs, and (iii) all other administrative tasks associated with City’s adoption and implementation of this Development Agreement and the Project. (j) Avila Ranch shall pay all required fees of the California Department of Fish and Wildlife (“CDFW”). CDFW fees shall be submitted to the City’s Planning Division before filing of any required Notice of Determination under CEQA, along with any fee required by the County Clerk/Recorder. The City may require proof of payment of such fees before issuing building permits or filing of a Final Subdivision Map. (k) During the term of this Development Agreement, fees and charges other than those specifically described in subsections (a) through (j) above may be imposed against or apply to the Project or the Property only as City and Avila Ranch agree. Section 5.05. Other Commitments of City and Avila Ranch Related to Financing. Section 5.05.1. Arrangements with Other Governmental Agencies. City and Avila Ranch acknowledge and agree that City may from time to time enter into joint exercise of power agreements, memoranda of understanding or other agreements with other governmental agencies consistent with and to further the purposes of this Development Agreement. Section 5.05.2. Other Funding Sources. (a) City and Avila Ranch agree to pursue outside sources of funding for the construction, operation and maintenance of Project Facilities and Infrastructure including, in particular, facilities and infrastructure which serve the region. City shall not be obligated, however, to apply for county, state or federal funds if the use of such funds for the Project would reduce the availability of that resource for other City projects. (b) Any obligation of Avila Ranch under this Development Agreement to fund or otherwise bear the costs of the construction of improvements, the provision of services or any other item, whether or not the sole obligation of Avila Ranch, may Attachment 2 Packet Page 33 15 183247.1 be satisfied through the use of funds provided by, from or through any third party (including other non-City, governmental) sources. Section 5.05.3. Reimbursement. (a) City shall reimburse, or provide for the reimbursement by other landowners or developers, the actual hard and soft costs associated with Avila Ranch’s funding or construction of that portion of any oversized or accelerated improvements or facilities that is attributable to a project or area other than the Project or Property as required by this section. Hard and soft costs eligible for reimbursement shall include, without limitation: reasonable direct costs of construction and materials, soft costs including bonds, architecture and engineering fees, and professional fees. Such reimbursement shall be based on a fair share allocation of costs determined by calculating the pro rata share of the capacity in such improvements that is attributable to other projects or properties as reflected in the allocation percentages in Exhibit C, which reimbursement shall be timely provided in accordance with Applicable Law, following City’s collection of funds from the sources identified in subsection 5.05.3(a)(1)–(4) below. Avila Ranch and City acknowledge that the amounts specified in Exhibit C for each improvement are estimates only and that total reimbursable costs shall be based on Avila Ranch’s actual costs as set forth in this Section 5.05.3. (1) Development Impact Fees paid by the Project for the improvements specified from the AASP impact fees, L.O.V.R. Interchange impact fees, or the Citywide transportation impact fees, as applicable; (2) Development Impact Fees paid to the City on behalf of other development in the AASP area that are not committed to repayment obligations under prior Reimbursement Agreements; (3) Development Impact Fees paid to City from developers who contribute to the impact associated with the improvements installed by Avila Ranch; and (4) Taxes or assessments in a Community Facilities District. (5) Separate reimbursement agreement. For purposes of such agreement, backbone infrastructure that is larger than the minimum size or standard as identified in the Standard Specifications and Engineering Design Standards may be considered to be oversized and shall be subject to prior review and approval by the City prior to being included in a separate reimbursement agreement. (b) Under no circumstances shall the City be obligated to fund reimbursement from its own resources, from funds it does not yet possess, or from funds which may not be lawfully used for that purpose. Attachment 2 Packet Page 34 16 183247.1 (c) Failure or error by the City to collect funds from the sources identified in subsection 5.05.3(a) above shall not subject the City to any liability, obligation, or debt to Avila Ranch. Notwithstanding the foregoing, the City shall reimburse Avila Ranch pursuant to the terms of this Agreement with respect to all such funds actually collected by the City. Failure by the City to reimburse Avila Ranch after the City collects such funds shall entitle Avila Ranch to exercise its remedies in accordance with Article 12. (d) For any improvement subject to reimbursement under this section, Avila Ranch shall provide City with evidence of the actual hard and soft costs of each of the improvements in the form of receipted bills, canceled checks, and contracts. Approval of reimbursement may occur in phases as projects are accepted by City. Regardless of Avila Ranch's claimed costs incurred in constructing the reimbursable improvements, City has the authority, through its Director or designee, in the exercise of his or her reasonable discretion, to determine the amount subject to possible reimbursement for each improvement. (e) In the event any owner or developer pays all or a portion of the fees or assessments identified in subsection 5.05.3(a)(1)–(4) above under protest, the City shall not be required to make reimbursements under this Development Agreement until the limitation period for instituting court action to seek a refund of such funds paid under protest has passed, and no court action (“Action”) has been instituted. If an Action is instituted seeking refund of funds paid under protest, or to prevent the City from collecting such funds, or challenging any provision of this Development Agreement, the City shall not pay over such funds to Avila Ranch until the Action has been finalized and the authority of the City to collect such funds and reimburse the Developer has been sustained. The City shall promptly notify Avila Ranch in writing of the Action. The City shall reasonably support Developer’s efforts to participate as a party to the Action, to defend the Action or settle the Action. Furthermore, the City shall have the right to tender defense of the Action to Avila Ranch. If, within 15 days of the City’s mailing a notice in compliance with Section 15.08 below requesting that Avila Ranch defend the Action, should Avila Ranch thereafter fail to undertake the defense of the Action at Avila Ranch’s sole cost and expense, the City may stipulate to return of the funds collected under protest, to cease collecting such funds, or enter into any other settlement of the Action acceptable to the City, and Avila Ranch shall lose any right to reimbursement under this Development Agreement of the amount contested in the Action. Avila Ranch shall further reimburse the City for its costs and attorneys’ fees incurred in defense of the Action, including reasonable payment for legal services performed by the City’s City Attorney, and for any liability the City incurred in the Action. In addition, if the City fails to impose a requirement upon development projects to pay their respective prorated share of the improvements specified in Exhibit C or fails to collect such funds, Avila Ranch may exercise all of its legal rights to attempt to collect such funds from the owners or developers of the benefitted properties, which legal rights shall not be interpreted to include an action against the City. In the event Avila Attachment 2 Packet Page 35 17 183247.1 Ranch attempts to collect such funds from such owners or developers, the City shall assign to Avila Ranch all of its rights to collect such funds under this Development Agreement. (f) The City reserves the right to offset any funds it collects from the sources identified in this Section 5.03.3 against any unpaid fees, debts or obligations of Avila Ranch owed to the City. The City shall provide Avila Ranch with notice, in accordance with Section 15.08 and Article 12, of its intent to offset any collected funds against unpaid fees, debts or obligations described in the notice, and provide Avila Ranch with a reasonable opportunity to cure such unpaid fees, debts, or obligations. (g) Avila Ranch’s rights to reimbursement under this Section 5.05.3 shall survive termination of this Development Agreement for a period of 15 years from the date of termination or until Developer has been fully reimbursed, whichever occurs first. Section 5.05.4. Other Shortfalls of City. (a) Avila Ranch understands and acknowledges that the costs to City of serving the Project and the Property and otherwise carrying out its Obligations under this Development Agreement may exceed the fees, charges and revenues generated by or as a result of the Project. Accordingly, prior to or concurrently with this Development Agreement, the City shall establish a Financing Mechanism to mitigate potential annual shortfalls to the City’s General Fund resulting from the provision of municipal services to the Project, the costs of which exceed the General Fund revenues generated by development within the Property (the “General Fund Shortfalls”). The Funding Mechanism shall be designed to remain in place until annual General Fund revenues generated by development within the Property are at least equal to the annual General Fund costs incurred by City in providing municipal services to the Project. (b) A Financing Mechanism shall be established to generate revenues sufficient to offset such potential shortfall, if requested by the City, and shall only be effective if a fiscal impact analysis shows a General Fund Shortfall. The shortfall Financing Mechanism may consist of a Mello-Roos Community Facilities District (“CFD”). (c) City may annually monitor the fiscal impacts of development within the Property to determine the extent to which development generates sufficient General Fund Revenues to eliminate the General Fund Shortfall. When and if the City determines as a result of annual monitoring that sufficient development has occurred within the Property to generate General Fund revenues to cover the annual costs to the City’s General Fund of providing municipal services to the Project (the “Break-Even Point”), the shortfall Financing Mechanism shall be discontinued and all revenues that have been collected to fund the projected General Fund Shortfall but have not been used for such purpose shall be refunded Attachment 2 Packet Page 36 18 183247.1 to Avila Ranch, if permissible pursuant to Applicable Law, or otherwise used to defray Project Costs in the City’s reasonable discretion and pursuant to law. (d) Avila Ranch’s obligation to fund projected General Fund Shortfalls under Section 5.05.4 above shall be limited by the provisions of Section 5.02.1 above and, in any event, shall not survive the expiration or termination of this Development Agreement. If Developer requests, and City grants, an extension of this Development Agreement as set forth in Section 1.03.1(a)(1) above, Avila Ranch’s obligation to fund projected General Fund Shortfalls shall be extended accordingly. ARTICLE 6. COMMITMENTS OF CITY AND AVILA RANCH RELATED TO PUBLIC IMPROVEMENTS Section 6.01. Backbone Infrastructure Phasing Plan. The Project Backbone Infrastructure is planned to be designed and constructed in six (6) phases. Section 6.01.1. Development Plan Phasing Plan. The improvements described in the Avila Ranch Development Plan and Exhibits E-1 through E-4 and J to this Development Agreement constitute the Project “Backbone Infrastructure.” The Parties acknowledge that further analysis may result in a more cost-effective approach to the provision of such infrastructure to adequately serve development within the Project Area, and that Exhibits E-1 through E-4 and J may be revised accordingly by agreement of the Parties and that such revisions shall not require amendment to this Development Agreement. Section 6.01.2. Phasing Plan. The phasing plan for the project is attached to this Agreement as Exhibit D. Section 6.01.3. Phasing Plan Amendments. The Phasing Plan may be amended by agreement of the Parties to take advantage of new technologies, to respond to changes in the underlying land use assumptions upon which the plan is based, or for such other reasons as the Parties may agree. Section 6.02. Construction and Dedication of Project Facilities and Infrastructure. Section 6.02.1. Construction and Funding of Project Facilities and Infrastructure by Avila Ranch. The City may, in any manner consistent with the terms and provisions of this Development Agreement, require Avila Ranch to construct or fund the construction of any Project Facilities and Infrastructure when needed to satisfy the Backbone Infrastructure Phasing Plan. Section 6.02.2. Oversizing of Project Facilities and Infrastructure. (a) In addition to requiring Avila Ranch to construct or fund the construction of Project Facilities and Infrastructure, City may require any Project Facilities and Infrastructure constructed or funded by Avila Ranch under Section 6.01 above to Attachment 2 Packet Page 37 19 183247.1 be oversized to serve projects or areas other than the Project or the Property; provided that: (i) City shall consider in good faith the establishment of a Financing Mechanism to provide such additional funding; (ii) City shall reimburse the costs associated with Avila Ranch’s funding or construction of that portion of any such oversized improvements that is attributable to projects or areas other than the Project or the Property, pursuant to section 5.05.3 of this Agreement above. (b) If the phasing or incremental construction of facilities would involve significant inefficiencies that are unacceptable to City for a sub-phase implemented by Avila Ranch, Avila Ranch may be required to construct or provide advance funding for the construction of oversized improvements. For example, if the Project generates a need for an 18-inch sanitary sewer line, but other projects reasonably may be expected to use that sewer line and thereby increase the required capacity of such line to 24 inches, City may require Avila Ranch to construct or fund the construction of a 24-inch sewer line (but shall provide reimbursement as described in section 5.05.3 above). Notwithstanding the foregoing, City shall exercise its best good faith efforts to reasonably limit Avila Ranch’s obligation to construct or provide advance funding of oversized improvements and may in certain instances, in the interest of fairness to Avila Ranch, tolerate certain inefficiencies. Section 6.03. Dedications. (a) To the extent rights-of-way or other interests in real property owned by Avila Ranch within the Property are needed for the construction, operation or maintenance of Project Facilities and Infrastructure, Avila Ranch shall dedicate or otherwise convey such rights-of-way or other interest in real property to City, or as necessary to the County of San Luis Obispo. Such rights-of-way shall be dedicated or otherwise conveyed in the widths set forth in the AASP or in the Avila Ranch Development Plan. (b) Any public improvements constructed by Avila Ranch and conveyed to City, and any right-of-way or other real property conveyed to City, shall be dedicated or otherwise conveyed (i) free and clear of any liens unacceptable to the City and (ii) except as otherwise agreed to by City, in a condition free of any toxic materials. Nothing herein shall prevent City’s right to pursue third parties under applicable law. Section 6.04. Cooperation with Respect to Project Facilities and Infrastructure. Section 6.04.1 Off-Site Improvements. Avila Ranch acknowledges that certain off-site improvements are required as part of the project’s conditions of approval and mitigation Attachment 2 Packet Page 38 20 183247.1 measures which include, but may not be limited to:(i) a right-of-way along Buckley Road and/or the Buckley Extension; (ii) a right-of-way necessary to implement the Horizon Extension from the project to Suburban Road: (iii) the Earthwood Extension to Suburban; (iv) improvements to Suburban Road between Earthwood and Horizon; (v) improvement of the intersection of Vachell and Venture; (vi) pedestrian improvements along Higuera and Vachell; (vii) intersection improvements at Higuera/Buckley, L.O.V.R./Higuera, Suburban/Higuera, Tank Farm/Higuera, Prado/ Higuera and South/Higuera; and (viii) bicycle improvements required by the City and consistent with the City Bicycle Master Plan, all of which are more particularly described in the Project’s approved plans (the “Off-Site Improvements”). A schedule of all Off-Site Improvements for which Avila Ranch is responsible is attached as Exhibit C to this Agreement. Avila Ranch shall exhaust all reasonable efforts and diligently pursue acquisition of all necessary easements and/or rights of way not currently owned or controlled by City or Avila Ranch which are required to construct the Off-Site Improvements. For purposes of this Section 6.04.1, the term “reasonable efforts” shall include proof that the Avila Ranch has made a commercially reasonable written offer to purchase the property interest at fair market value, in accordance with an appraisal conducted by an MAI appraiser. If after exercising reasonable efforts Avila Ranch is unable to acquire the necessary easements and/or rights of way, City, upon written request of Avila Ranch, may either: (1) require Avila Ranch to construct functionally equivalent alternative improvements to those previously approved, provided that such alternative improvements are equally or more effective in addressing the impact; or (2) pursue acquisition of the real property interests by means of eminent domain. City and Avila Ranch acknowledge that eminent domain is a discretionary process and that City cannot commit to its use unless and until all appropriate notifications, hearings and proceedings have been undertaken. If City chooses to pursue acquisition of the real property interests by means of eminent domain, City shall take all reasonable steps necessary towards that endeavor, including undertaking appraisals, noticing property owners, noticing and holding required public hearings and meetings, and following any other procedures required for pre-judgment possession and Avila Ranch shall pay all costs reasonably incurred by City related to, arising from, or associated with such acquisition or condemnation proceedings, including but not limited to, attorneys' fees, expert witness fees, settlement costs, and jury awards of any kind. In addition, Avila Ranch shall indemnify, defend and hold City harmless from and against any and all claims, liabilities or causes of action of any kind associated with City’s acquisition of such real property interests, excluding therefrom any claims, liabilities or causes of action arising from City’s gross negligence or willful misconduct. If and to the extent this Section 6.04.1 demands more of Avila Ranch than does Section 66462.5 of the Subdivision Map Act, this section shall apply in addition to the Developer’s obligations under that statute. Upon acquisition of the necessary interest in land, or upon obtaining right of entry, either by agreement or court order, Avila Ranch shall commence and complete the public improvements. Attachment 2 Packet Page 39 21 183247.1 This requirement shall be included, and, if necessary, detailed, in any subdivision improvement agreement entered between the Developer and the City pursuant to Government Code section 66462. ARTICLE 7. OTHER COMMITMENTS OF CITY AND AVILA RANCH Section 7.01. Mutual Cooperation for Other Governmental Permits. City and Avila Ranch, as appropriate, shall each be responsible to apply to other governmental or quasi-governmental agencies for necessary permits and approvals for development and use of the Property (e.g., agencies having jurisdiction over water supply; wastewater treatment, reuse and disposal; access to the Property; wetlands-related and other biological issues). City and Avila Ranch each shall take any and all actions as may be necessary or appropriate to process successfully such permits and approvals, provided such permits and approvals are consistent with the Development Plan and AASP and agreed by the City and Avila Ranch to be reasonably necessary or desirable for the construction, maintenance or operation of the Project. Section 7.02. Timing of Development. Section 7.02.1. Timing Requirements. (a) Avila Ranch shall be obligated to comply with the terms and conditions of the Project Approvals, the Development Plan, the AASP, and this Development Agreement when specified in each. The Parties acknowledge that the rate at which phases of the Project develop depends upon numerous factors and market conditions that are not entirely within Avila Ranch’s or the City’s control such as market demand, interest rates, absorption rates, completion schedules, availability of labor, and other factors. The Parties wish to avoid the result of Pardee Construction Co. v. City of Camarillo, 37 Cal. 3d 465 (1984), where the failure of the parties therein to consider and expressly provide for the timing of development resulted in the court’s determination that a later-adopted initiative restricting the timing of development prevailed over the parties’ agreement. Accordingly, the Parties acknowledge that Avila Ranch shall have the right to develop the Project at such time Avila Ranch deems appropriate in the exercise of its subjective business judgment except as provided in this section below and the City shall not attempt to limit or restrict the timing of development of the Project except in accordance with the terms of this Development Agreement. (b) Avila Ranch shall complete the first two phases of development depicted in Exhibit D to this Agreement, including the installation of those certain improvements required under either the Development Plan or FEIR, by seven years after the Effective Date. Otherwise, Avila Ranch may proceed with the development of any portion of the Project, or make any financial commitment associated with any such development when, in Avila Ranch’s sole and absolute discretion, Avila Ranch determines that it is in Avila Ranch’s best financial or other interest to do so. The foregoing sentence shall not, however, limit any Attachment 2 Packet Page 40 22 183247.1 obligation of Avila Ranch under this Development Agreement with respect to any development activities that Avila Ranch chooses to undertake hereunder. (c) Avila Ranch shall pursue buildout of the project in conformance with the phasing schedule below. The Parties acknowledge that, except as expressly required by Section 1.03.1(a)(2), the actual timing of buildout will vary from year to year due to a variety of factors such as market demand, economic conditions, etc. Avila Ranch may accelerate buildout of the Project ahead of the schedule so long as there is outstanding indebtedness owed to Avila Ranch for Off-Site Improvements under section 5.05.3 of this Agreement. The Project shall be permitted to develop at a rate up to the cumulative total of 150% of the annual number of dwelling units shown in the phasing schedule immediately below. The Project shall not exceed the cumulative maximum shown for each year in the phasing schedule below, unless authorized by the Community Development Director upon a finding that there is outstanding debt owed to Avila Ranch and that such development and/or rate of development will not exceed the City’s Growth Management Ordinance. Phase 1  Phase 3  Phase 2  Phase 4  Phase 5  Year >>>  2020  2021  2022  2023  2024  2025  2026  2027  2028  2029  R‐1 101  50   51  R‐2 Standard 221  44   44   45   44   44  R‐2 Pocket Cottage  76  16   16   15   16   13  R‐3‐Duplex 38  38   R‐3 Town Home 159  52    52    55  R‐4 Apartments 125  65   60  Total Subject to Limit   720   60   60   60   125   117  90    52    55   50   51  Maximum  Cumulative Limit     90   180   270   458   633   720      Section 7.03. Dedication of Park Lands. Avila Ranch shall dedicate land in excess of that ordinarily required by the City to construct public parks in South San Luis Obispo, an area that presently has a deficiency of park area. In particular, Avila Ranch shall provide 18.25 acres of public park land, 1.76 acres in excess of City requirements, to bring the total park acreage for South San Luis Obispo to five and a-half acres per 1,000 persons. Said parks shall be reviewed and approved by the City’s Parks and Recreation Commission before dedication. Ongoing maintenance and operation of these park facilities shall be funded by the Project residents pursuant to a Financing Mechanism established pursuant to Sections 5.03 or 5.04 above and shall not be payable from the General Fund or other community-wide resources. Section 7.04. Dedication of Open Space and Agricultural Lands. To compensate for the loss of onsite agricultural lands and to meet the open space objectives of the General Plan, Avila Ranch shall dedicate at least 50 acres of on-site open space and/or agricultural land and shall preserve at least 50 acres of off-site open space and/or agricultural land. Said lands shall be dedicated within the City’s “Greenbelt” area depicted in Figure 5 of the Conservation and Open Space Element, a Attachment 2 Packet Page 41 23 183247.1 copy of which figure is attached here as Exhibit F. The land to be dedicated or reserved may be comprised of multiple properties, and may be located in the City or unincorporated County territory. Avila Ranch may satisfy a portion of this requirement through the payment of an in lieu fee to the City or, with the City’s approval, to a land conservation organization. If land is dedicated in the form of a Conservation Easement, the terms and conditions shall be approved by the City, together with a correspondent and contemporaneous baseline conditions report. If land is to be dedicated in fee simple title, the City shall have the opportunity to conduct due diligence inspections, including but not limited to, Phase I Environmental Site Assessment (and subsequent assessment as may be necessary), title review, and physical site inspections; the City may reject any such dedications based on its due diligence inspections, which shall not be construed as a waiver of the dedication requirements herein. Section 7.05. Affordable Housing and Workforce Housing and Related Programs. Avila Ranch shall provide affordable housing for the Project as described in Exhibit G. Avila Ranch shall also provide workforce housing and shall implement the local preference “SLO Workers First” program, owner occupancy restrictions and down payment assistance program as described in Exhibit G. Section 7.07. Energy. (a) Avila Ranch shall provide for accelerated compliance with the City’s Energy Conservation Goals and its Climate Action Plan by implementing energy conservation measures significantly above City standards and norms by providing for solar PV energy generation for 100 percent of onsite electrical demand as described in Section 13 of the Design Framework of the Development Plan. The Project shall also include energy efficiency standards in excess of the current Building Code. (b) Developer shall provide sustainability features as described in Section 13 of the Design Framework of the Development Plan, including: (i) housing that meets the 2019 net zero building and energy codes or, if the 2019 building and energy codes are not yet adopted upon building permit application, the equivalent to the satisfaction of the Community Development Director, (ii) implementing any future city-wide policy regarding carbon emissions reduction, (iii) solar electric panels, (iv) integrated power outlets for electric vehicles and electric bicycles, (v) building design that maximizes grey water usage, and (vi) work-at-home options with high-speed internet connectivity. Section 7.08. Water. (a) Avila Ranch shall provide for accelerated compliance with the Climate Action Plan through by implementing special water conservation measures to reduce the usage of potable water by Avila Ranch households to 35 percent below the current City-wide average as described in Section 13 of the Development Plan. (b) Avila Ranch shall comply with the California Water Code and the regulations imposed by the City before or after the Effective Date in its capacity as the Attachment 2 Packet Page 42 24 183247.1 Groundwater Sustainability Agency pursuant to the Sustainable Groundwater Management Act (“SGMA”). (c) Avila Ranch shall install water improvements necessary to serve the Project and future annexation areas of the AASP and County fringe areas in and around Buckley and Broad Streets as shown in Exhibit H. (d) Avila Ranch shall offer to dedicate to the City a well site for future municipal use on Lot 594, 406 or 398, with area buffers acceptable to the City and consistent with drinking water standards. If the water well is located in a public park, the design shall be consistent with the project’s Parks Plan, and may be subject to review and approval by the City Parks and Recreation Commission. The well site shall have a footprint with an area measuring 20’ x 40’, plus a buffer as shown more particularly in Exhibit I. (e) Except as provided in paragraph (b) of this section above, Avila Ranch reserves all groundwater or other water rights with respect to the Property and shall be entitled to irrigate agricultural or open space land with ground or well water, to the extent that such reservation and action does not violate Applicable Law and so long as such water meets or exceeds all applicable water quality standards. Avila Ranch shall have the option, but shall not be required, to connect to the City’s water system to irrigate agricultural/open space land with reclaimed water. Section 7.09. Storm Drain Facilities. Before approval of a Final Subdivision Map or building permit for a use that does not require a map, Avila Ranch shall cause to be provided storm drain facilities adequate to accommodate the storm water runoff from the area subject to the Final Subdivision Map or building permit. Section 7.10. Interim Fire Station. Avila Ranch shall construct, and dedicate to the City, an interim fire station on Lot 302 to serve all property in South San Luis Obispo. Per the requirements of the Fire Station Master Plan, the interim fire station shall be provided at the buildout of the 361st dwelling unit. After the interim fire station has been constructed, the site shall be dedicated to the City for use as a City park or affordable housing site, as deemed appropriate by the City. Avila Ranch shall be entitled to credits against fire development impact fees in an amount reasonably determined by the City’s fiscal impact consultant to reflect (i) the value of the land donated to the City under this section and (ii) the lesser of (a) Avila Ranch’s actual cost to improve the interim fire station and (b) the reasonable cost of that construction. Section 7.11. Traffic and Circulation Improvements. Avila Ranch shall construct or fund the traffic and circulation improvements as established in the FEIR and Development Plan as further described in Exhibit C. City and Avila Ranch acknowledge that these improvements are necessary to mitigate project impacts, improve access to and from the project, relieve existing or future traffic deficiencies, and bring such intersections into compliance with the General Plan in advance of impacts associated with the Project. In addition, Avila Ranch shall construct or fund the following improvements: Attachment 2 Packet Page 43 25 183247.1 a. Buckley/227 Intersection Improvements. Avila Ranch shall commit $200,000 above its fair share allocation of costs to facilitate design of the roundabout improvements for the Buckley Road/227 intersection called for in the 227 corridor study. b. Operational Improvements to the Davenport Creek and Buckley Road Intersection. The Project’s fair share of these improvements is 2.7 percent, based on the Project’s share of additional traffic on Buckley Road. Avila Ranch shall provide funding to the City in the amount of $230,000 for these improvements (90 percent of projected costs), including the costs for initial design, construction documents, and right-of-way acquisition. In the event actual costs are less than what has been projected, Avila Ranch may apply the remaining funds ($230,000 less 90 percent of actual costs of construction) to the Buckley/227 intersection improvements. The City shall work with the County of San Luis Obispo and enter into any necessary agreements to act as a conduit for the Avila Ranch funding contribution to the Davenport Creek and Buckley Road intersection improvements. Section 7.12. Bicycle and Multimodal Transportation Improvements. Avila Ranch shall construct or fund the construction of bicycle and multimodal transportation improvements as established in the FEIR and Development Plan as further described in Exhibit J. City and Avila Ranch acknowledge that these improvements are necessary to mitigate Project impacts, improve access to and from the Project, encourage multimodal transportation, relieve existing or future traffic deficiencies, and bring such intersections into compliance with the General Plan in advance of impacts associated with the Project. In addition, if prior to the termination of this Development Agreement, City acquires all or a portion of right of way through the Chevron site immediately adjacent to the Property as contemplated in the City’s Circulation element, Avila Ranch agrees to improve, at its sole cost and expense, subject to reimbursement, such right of way as a Class 1 bicycle facility and pedestrian walkway. Avila Ranch shall be obligated to construct such improvements upon written notice by City that it has acquired all or a portion of the right of way through the Chevron property and such obligation shall survive termination of this Development Agreement. Actual construction of the bicycle and pedestrian improvements shall be coordinated with build-out of the Project, but in no event shall it be later than one year after completion of phase 4 of the Project or City’s written notice to Avila Ranch of its acquisition of such right-of-way, whichever is later. Section 7.13. Miscellaneous. Section 7.13.1. Covenants, Conditions, and Restrictions. CC&Rs for each subdivision within the Property shall state substantially the following: “This project is within the boundaries of the San Luis Obispo Airport Area Specific Plan, and as such, is subject to design guidelines and development standards which have been incorporated into the Airport Area Specific Plan and the Avila Ranch Development Plan Design Guidelines, both on file with the Community Development Department of the City of San Luis Obispo.” Before the City approves a Final Subdivision Map or issues a building permit for a land use that does not require a Map, the CC&R disclosure statement referenced above shall be provided to the City Attorney for review and approval. Section 7.13.2. Ownership and Maintenance of Public Improvements. Unless otherwise mutually agreed, the City shall own and maintain, or cause to be maintained, the following public improvements: Attachment 2 Packet Page 44 26 183247.1 (a) Potable water system and water tank within public properties or public easements; (b) Sanitary sewer system within public properties or public easements; (c) Recycled water system within public properties or public easements; (d) Storm drain system, including continuous deflective separation (CDS) vaults or other BMP facilities, within public properties or public easements; (e) Public roadways; (f) Public parks; and, (g) Public access, landscape, and utility easements. Section 7.13.3. Public Utilities Easements. All land subject to public utilities easements (PUEs); public water, sewer, or storm drain easements; and public access easements shall be open and accessible to the City at all times. Section 7.13.4. Design Review of Major Surface Facilities. Design Review shall be completed for all major surface public facilities for which it is required before construction. Section 7.13.5. Design and Construction Standards for Sewer and Water Facilities. All sewer, water and recycled water facilities shall conform to the Design and Construction Standards in effect for the Project when improvement plans are submitted. The submittal shall include all pertinent engineering analysis and design calculations. The plans shall be subject to the Director of Public Works’ review and approval. Section 7.13.6. Communications Requirements. Developer shall provide cable or suitable conduit to each City facility, public park, or other lot designated for City or public use for high speed internet connectivity. The cable or suitable conduit shall be shown on the joint trench improvement plans and constructed before the final lift of asphalt is placed on the adjacent street. ARTICLE 8. CONSIDERATION OF PERMITS AND APPROVALS Section 8.01. In General. Section 8.01.1 Review and Action Generally. Upon Avila Ranch’s submission of any complete application for an Approval together with any fees permitted under Article 5 and required by City in accordance with Applicable Law, City shall use its best efforts to commence and complete promptly and diligently all steps necessary to act on the application. Avila Ranch promptly shall provide to City all information reasonably requested by City for its consideration of any such application. Section 8.01.2. Applicable Law. Except as otherwise specifically provided in this Article 8, all applications for Approvals submitted by Avila Ranch shall be considered by City in accordance with Applicable Law. To the extent an approval would amend Applicable Law as set forth in Attachment 2 Packet Page 45 27 183247.1 Section 4.01.1, the aspect of Applicable Law to be amended by the approval shall not apply to the City’s consideration of the application. Section 8.02. General Plan and AASP Amendments. The parties anticipate that Avila Ranch may request amendments to the General Plan or the AASP to respond to changing circumstances and conditions. City is not obligated to approve any such application and may, in the exercise of its legislative discretion, approve, deny or propose conditions or modifications thereto, including conditions or modifications that might otherwise be prohibited by the vested rights provided by this Development Agreement. Avila Ranch shall be afforded a reasonable opportunity to review any such proposed conditions and modifications and to withdraw its application for a General Plan amendment or AASP amendment (in which case neither Avila Ranch’s proposed amendments nor the City’s proposed modifications shall become effective). Section 8.03. CEQA Compliance. Section 8.03.01. MMRP Application. When conducting an environmental review of any application for an Approval, City shall review the Mitigation Monitoring and Reporting Program adopted in connection with the Development Plan and Avila Ranch EIR (the “MMRP”) to determine if any mitigation measure contained in the MMRP as to the portion of the Property subject to this Development Agreement should be incorporated into the design of, or added as a condition of approval to, such Approval. Section 8.04. Life of Approvals. Any Approval issued by City, including vesting maps as defined in Section 8.05 below, shall continue in effect without expiration until the later of: (i) the expiration or earlier termination of this Development Agreement or (ii) the date upon which such Approval would otherwise expire under the laws of the State of California. Section 8.05. Vesting Maps. The ordinances, standards and policies applicable to any vesting tentative map, vesting parcel map, vesting subdivision map or any other type of vesting map (“Vesting Map”) under California Government Code section 66474.2, and the ordinances, policies and standards vested under any Vesting Map pursuant to California Government Code section 66498.1(b) shall be those established as Applicable Law under this Agreement. If this Development Agreement terminates before the expiration of any Vesting Map or the vested rights provided thereby, such termination of this Development Agreement shall not affect Avila Ranch’s right to proceed with development under such Vesting Map in accordance with the ordinances, policies and standards so vested under the Vesting Map. Notwithstanding the foregoing, no Vesting Map shall extend Applicable Law beyond the stated term of this Development Agreement (and the rules, regulations and official policies of City applicable to that portion of the Property covered by such Vesting Map shall become those in effect as of the expiration of such term) except as otherwise agreed by City and Avila Ranch; provided, however, that City and Avila Ranch may agree to an extension of the term of this Development Agreement with respect to the area covered by any such Vesting Map. Section 8.06. Need for Flexibility. The provisions of this Development Agreement require a close degree of cooperation between the City and Developer. Implementation of the Project may require minor modifications of the details of the Development Plan and affect the performance of the Parties to this Development Agreement. The anticipated refinements of the Project and the Attachment 2 Packet Page 46 28 183247.1 development of the Property may require that appropriate clarifications and refinements are made to this Development Agreement and the Entitlements with respect to the details of the performance of the City and the Developer. The Parties desire to retain a certain degree of flexibility with respect to those items covered in general terms under this Development Agreement. ARTICLE 9. AMENDMENTS Section 9.01. Amendments of Agreement. Section 9.01.1. General. This Development Agreement may be amended from time to time only upon the mutual written consent of City and Avila Ranch and in compliance with section 17.94.190 of the City’s zoning ordinance; provided, however, that in connection with the transfer of any portion of Avila Ranch’s Rights and/or Obligations under this Development Agreement to another person, entity, or organization pursuant to the provisions of Article 13 below, Avila Ranch, such transferee and City may agree that the signature of such transferee may be required to amend this Development Agreement insofar as such amendment would materially alter the Rights and/or Obligations of such transferee hereunder. In no event shall the signature or consent of any “Non-Assuming Transferee” (as defined in Section 13.03 below) be required to amend this Agreement. Section 9.01.2. Future Approvals Do Not Require Amendments to Agreement. Except as the Parties may otherwise agree, no amendment of this Development Agreement shall be required in connection with the issuance of any Approval, or an amendment to the MMRP. Any Approval issued after the Effective Date as to a portion of the Property shall be incorporated automatically into this Development Agreement and vested hereby. City shall not, however, amend or issue any Approval unless Avila Ranch requests such an amendment or issuance from City unless otherwise permitted by this Agreement. ARTICLE 10. ANNUAL REVIEW Section 10.01. Annual Review (a) The Community Development Director shall annually and concurrently conduct (i) the MMRP Evaluation as set forth in Section 11.01; and (ii) the Development Agreement Review as set forth in Section 11.02 (collectively, the “Annual Review”). With respect to the MMRP Evaluation, if the Community Development Director determines that mitigation measures adopted by City in connection with its approval of the AASP and the Zoning are not being implemented as set forth in the MMRP, the Community Development Director shall take any appropriate remedial action as described in Section 11.01 below. Further, the Community Development Director shall incorporate the results of the MMRP Evaluation into the review of any applications for Approvals that are submitted following completion of an Annual Review. Attachment 2 Packet Page 47 29 183247.1 (b) Other Investigations and Evaluations. City may from time to time, whether or not as a part of an Annual Review, investigate or evaluate any matter that is properly the subject of an Annual Review. ARTICLE 11. MITIGATION MONITORING AND REPORTING PROGRAM EVALUATION; DEVELOPMENT AGREEMENT REVIEW Section 11.01. Mitigation Monitoring and Reporting Program Evaluation. Section 11.01.1. In General. During its Annual Review, City shall evaluate (the “MMRP Evaluation”) whether the mitigation measures adopted by City in connection with its approval of the AASP and the Zoning are being implemented as set forth in the MMRP as to the Property. Section 11.01.2. MMRP Implementation. As set forth in the MMRP, City shall consider in connection with any application for an Approval the extent to which mitigation measures described in the MMRP should be incorporated into the design of the project under consideration or set forth in conditions to the City’s approval of the application. During an MMRP Evaluation, the City shall evaluate its overall success over the prior year in implementing such mitigation measures, as set forth above, and consider any additional steps that may be appropriate to ensure, as Approvals are considered over the following year, successful implementation of such mitigation measures (including, in particular, mitigation measures that are the responsibility of City or other agencies with regulatory authority over the Project). Section 11.01.03. Enforcement. Avila Ranch shall be responsible only for those mitigation measures the City requires to be incorporated into the design of the Project, including those that are attached as conditions to any Approval. Failure to comply with any such design requirement or any condition of approval shall be enforced in any manner authorized by Applicable Law. Section 11.02. Development Agreement Review Section 11.02.01. In General. The Community Development Director shall review this Development Agreement annually as required by section 17.94.200 of the City’s zoning ordinance (the “Development Agreement Review”). The Development Agreement Review shall be conducted concurrently with MMRP Evaluation, pursuant to Article 10 above and this Section 11.02. In connection with the Development Agreement Review, Avila Ranch shall provide information as reasonably requested by City. Section 11.02.02. Director’s Findings of Compliance. If the Community Development Director finds good faith compliance by Avila Ranch with this Agreement, the Community Development Director shall issue a “Finding of Development Agreement Compliance,” which shall be in recordable form and may be recorded by Avila Ranch or any “Mortgagee” (as defined in Section 14.01 below). Issuance of a Finding of Development Agreement Compliance and expiration of the appeal period specified below without appeal, or confirmation by the City Council of the issuance of the Finding of Development Agreement Compliance upon such appeal, shall finally determine the Development Agreement Review for the applicable period. Attachment 2 Packet Page 48 30 183247.1 Section 11.02.03. Finding of Development Agreement Noncompliance. If the Community Development Director finds that Avila Ranch and/or a Transferee has not complied in good faith with this Agreement, the Community Development Director shall proceed as specified in section 17.94.200 of the City’s zoning ordinance. ARTICLE 12. DEFAULT, REMEDIES, TERMINATION OF DEVELOPMENT AGREEMENT Section 12.01. Defaults. Section 12.01.1. Notice and Cure. (a) Any failure by a Party to perform any term or provision of this Development Agreement, which failure continues uncured for 60 days following written notice of such failure from the other Party (unless such period is extended by written mutual consent), shall constitute a default under this Development Agreement. Any such notice shall specify the nature of the alleged failure and, where appropriate, how such alleged failure may be cured. If the nature of the alleged failure is such that it cannot reasonably be cured within 60 days, then commencement of the cure within that time, and diligent prosecution to completion of the cure thereafter, shall be timely. If the alleged failure is cured, then no default shall exist and the noticing Party shall take no further action and acknowledge the cure in writing to the other Party. If the alleged failure is not cured, then a default shall exist under this Development Agreement and the noticing Party may exercise any of the remedies available under Sections 12.02 through 12.04 below. (b) No failure or delay in giving notice of default shall constitute a waiver of default; provided, however, that the provision of notice and opportunity to cure is a prerequisite to the enforcement or correction of any default. Section 12.01.2. Actions during Cure Period. (a) During any cure period specified under Section 12.01.1 and before delivery of a notice of failure or default, the Party charged shall not be considered in default of this Development Agreement. If there is a dispute as to the existence of a default, the Parties shall otherwise continue to perform their obligations hereunder, to the maximum extent practicable in light of the disputed matter, pending its resolution or formal termination of the Development Agreement. (b) City shall continue to process in good faith applications for Approvals during any cure period, but need not approve any such application if it relates to a development project as to which there is an alleged default hereunder. Section 12.02. Remedies of Non-Defaulting Party. Attachment 2 Packet Page 49 31 183247.1 Section 12.02.01. In General. If any Party is in default under the terms of this Development Agreement, the non-defaulting Party may elect, in its sole and absolute discretion, to pursue any of the following courses of action: (i) waive such default; (ii) in City’s case, pursue administrative remedies as provided in Section 12.02.3 below, (iii) pursue judicial remedies as provided for in Section 12.02.4 below; and/or (iii) terminate this Development Agreement as and to the extent permitted by Section 12.04 below and consistently with section 17.94.210 and 17.94.220 of the City’s zoning ordinance. In no event shall City modify this Development Agreement as a result of a default by a defaulting Party except in accordance with the provisions of Section 9.01 above. Section 12.02.2. Severability of Default. City acknowledges that the development of the Project may be carried out by more than one person, entity or organization under this Development Agreement (e.g., portions of Avila Ranch’s interest in the Property and this Development Agreement may be transferred to another person, entity or organization, a “Transferee” under Article 13 below). Accordingly, (i) if City determines to terminate or exercise any other remedy under this Development Agreement due to a default by Avila Ranch or any Transferee (hereinafter “Defaulting Developer”), such termination or other remedy shall apply only with respect to the Rights and Obligations of such Defaulting Developer, (ii) City shall, to the extent possible, refrain from seeking any termination of this Development Agreement or other remedy if such remedy would affect materially the ability of a non- defaulting Developer and / or a Transferee (hereinafter “Non-Defaulting Developer”) to realize the Rights provided hereunder, and (iii) any termination of this Development Agreement as to any Defaulting Developer shall be deemed to terminate only those Rights and Obligations arising hereunder between City and such Defaulting Developer. The Parties acknowledge and agree that, in accordance with Article 13 below, more than one Transferee may be responsible for certain actions required or forbidden by this Development Agreement, and that more than one Transferee therefore may be in default with respect thereto. The Parties further acknowledge and agree that, notwithstanding the provisions of (ii) in this Section above, in certain instances it may not be possible for City to exercise remedies against the Defaulting Developer of one portion of the Project without affecting in some way a Non-Defaulting Developer of the same or of some other portion of the Project. Section 12.02.3. Administrative Remedies. Except as otherwise specifically stated in this Development Agreement, City may exercise any and all administrative remedies to the extent necessary or appropriate to secure compliance with this Development Agreement. Such administrative remedies may include, among others, withholding building permits, certificates of occupancy or other Approvals relating to that portion of the Project in default of this Development Agreement. Section 12.02.04. Judicial Remedies. Except as otherwise specifically stated in this Development Agreement, either Party may, in addition to any other rights or remedies, institute legal action to cure, correct, or remedy any default, enforce any covenant or agreement herein, enjoin any threatened or attempted violation hereof, enforce by specific performance the Obligations and Rights of the Parties hereto or obtain any other remedy consistent with this Development Agreement; provided, however, that in no event shall any person be entitled Attachment 2 Packet Page 50 32 183247.1 hereunder to monetary damages for any cause, including breach of contract by a Party to this Development Agreement provided, however, that City may enforce payment obligations under Applicable Law, including this Development Agreement. Nothing in this section shall be deemed to limit either Party’s rights under the Government Claims Act, California Government Code section 810 et seq. For purposes of instituting a legal action under this Agreement, any City Council determination under this Development Agreement shall be deemed final agency action unless expressly stated otherwise. Section 12.03. Termination Due to Default. Section 12.03.1. In General. Either Party may terminate this Development Agreement pursuant to Section 12.03.2 below and sections 17.94.190–17.94.220 of the City’s zoning ordinance in the event of a default by the other Party, provided: (i) such default is prejudicial to the interests of the non-defaulting Party and is neither minor nor technical and (ii) in the case of any termination by City, City first shall have exercised any and all administrative or other remedies short of filing suit available to secure Avila Ranch’s compliance with this Development Agreement. Notwithstanding clause (ii) of this Section 12.03.1, City shall not be required, as a prerequisite to initiating the termination of this Development Agreement, to exercise its administrative and other non-judicial remedies for more than 180 days or, if the Parties are making reasonable progress towards resolution of the matter claimed to be a default hereunder, such longer period to which the Parties may agree. Termination of this Development Agreement by Avila Ranch or a Transferee as to any portion or portions of the Property shall not affect the Rights or Obligations of Avila Ranch or any other Transferee as to any other portion or portions of the Property. Section 12.03.2. Procedures for Termination. (a) Before any proposed termination of this Development Agreement pursuant to this Section 12.03, and following the 180-day period specified in Section 12.03.1 above to the extent applicable, a non-defaulting Party intending to seek termination of this Development Agreement shall deliver to the defaulting Party (or Parties) a written “Preliminary Notice of Intent to Terminate” this Development Agreement, and all Parties shall meet and confer in good faith effort to agree upon an alternative to termination that will afford the non-defaulting Party the benefit of its bargain in this Development Agreement. If those discussions are not successful in resolving the dispute, the non-defaulting Party desiring to terminate this Development Agreement shall deliver to the defaulting Party a written “Final Notice of Intent to Terminate” this Development Agreement. (b) Within 60 days after the City delivers a Final Notice of Intent to Terminate to a defaulting Party, the City Council shall review the matter as set forth in California Government Code sections 65865, 65867, and 65868 and sections 17.94.210– 17.94.220 of the City’s zoning ordinance. Termination shall be effective 30 days after such City Council review, unless the default is sooner resolved to the mutual satisfaction of the Parties. Attachment 2 Packet Page 51 33 183247.1 (c) Within 60 days after Avila Ranch delivers a Final Notice of Intent to Terminate to City, the City Council shall consider whether City should take any further curative action. Termination shall be effective 30 days following such City Council consideration (or 90 days following delivery by Avila Ranch of a Final Notice of Intent to Terminate if the City Council fails to complete its consideration by that date), unless the default is sooner resolved to the mutual satisfaction of the Parties. ARTICLE 13. ASSIGNMENT, TRANSFER AND NOTICE Section 13.01. Assignment of Interests, Rights and Obligations. Avila Ranch may transfer or assign (“Transfer”) all or any portion of its Rights and Obligations under this Development Agreement as to any portion of the Property (the “Transferred Property”) to any person acquiring an interest in such Transferred Property, including, without limitation, purchasers or ground lessees of lots, parcels or facilities on such portion of the Property (a “Transferee”). Any such Transfer shall relieve the transferring party (a “Transferor”) of any and all Rights and Obligations under this Development Agreement insofar as they pertain to the Transferred Property, as provided in this Article 13. Section 13.02. Transfers In General. Section 13.02.1. In General. In connection with any Transfer of all or any portion of the Project or the Property, other than a transfer or assignment to a “Non-Assuming Transferee” as described in Section 13.03 below, or a “Mortgagee” as defined in Section 14.01 below, the Transferor and the Transferee may enter into a written agreement regarding their respective Rights and Obligations in and under this Development Agreement (a “Transfer Agreement”). Any such Transfer Agreement may contain provisions: (i) releasing the Transferor from any Rights and Obligations under this Development Agreement that relate to the Transferred Property, provided the Transferee expressly assumes all such Rights and Obligations, (ii) transferring to the Transferee rights to improve the portion of the Property transferred and any other Rights and Obligations of the Transferor arising under this Agreement, and (iii) addressing any other matter deemed necessary or appropriate in connection with the Transfer. Section 13.02.02. City Review of Release Provisions. (a) A Transferor shall have the right, but not the obligation, to seek City’s consent to those provisions of any Transfer Agreement purporting to release such Transferor from any Rights and Obligations arising under this Development Agreement (the “Release Provisions”). If a Transferor fails to seek City’s consent or City does not consent to any such Release Provisions, then such Transferor may nevertheless transfer to the Transferee any and all Rights and Obligations of such Transferor arising under this Development Agreement (as described in Section 13.02.1, clauses (i) and (ii) above) but, with respect to City, shall not be released from those Rights and Obligations described in the Release Provisions to which City Attachment 2 Packet Page 52 34 183247.1 has not consented. If City consents to any Release Provisions, then: (i) the Transferor shall be free from any and all Rights and Obligations accruing on or after the date of the Transfer with respect to those Rights and Obligations described in such Release Provisions and (ii) no default hereunder by Transferee with respect to any Rights and Obligations from which the Transferor has been released shall be attributed to the Transferor. City may consent, or conditionally consent, to all, none, or some of the Release Provisions. (b) City shall review and consider promptly, reasonably and in good faith any request by a Transferor for City’s consent to any Release Provisions. City’s consent to any such Release Provisions may be withheld only if: (i) reliable evidence supports a conclusion that the Transferee will be unable to perform the Rights and Obligations proposed to be assumed by the Transferee pursuant to the Transfer Agreement, (ii) the Rights and Obligations are not reasonably allocable among particular portions of the Project and Property, such as the Transferred Property, (iii) the Transferor or Transferee fails to provide acceptable security, as and if reasonably requested by City, to ensure the performance of the Rights and Obligations proposed to be assumed by the Transferee pursuant to the Transfer Agreement, or (iv) the Transferor or Transferee fail to provide information reasonably requested by the City to assist it in making the determinations described in this paragraph. In no event shall City unreasonably withhold consent to any Release Provisions. City shall respond within 30 days to any request by a Transferor for consent to any Release Provisions. (c) Subject to the provisions of subsection (b) above, because and to the extent certain obligations arising under this Development Agreement may not reasonably be allocable among portions of the Project, City may refuse to release the Transferor of one portion of the Project from such Rights and Obligations under this Development Agreement even though the Rights and Obligations are being or have been assumed by the Transferee of some other portion of the Project. Section 13.03. Non-Assuming Transferees. Except as otherwise required by a Transferor, the Obligations of a Transferor shall not apply to any purchaser of any property that has been established as a single legal parcel for nonresidential use that does not require any further on-site or off-site infrastructure. The Transferee in such a transaction and the successors and assigns of such a Transferee (“Non-Assuming Transferees”) shall be deemed to have no Obligations under this Agreement, but shall continue to benefit from the Rights provided by this Development Agreement for the duration of its term. Nothing in this section shall exempt any Non-Assuming Transferee from the payment of applicable fees, taxes and assessments or from having to comply with applicable conditions of an Approval or with Applicable Law. ARTICLE 14. MORTGAGEE PROTECTION Section 14.01. In General. The provisions of this Development Agreement shall not limit Avila Ranch’s right to encumber the Property or any portion thereof, or any improvement thereon by Attachment 2 Packet Page 53 35 183247.1 any mortgage, deed of trust or other device securing financing with respect to such portion. City acknowledges that lenders providing such financing and other “Mortgagees” (defined below) may require certain interpretations and modifications of this Development Agreement and agrees upon request, from time to time, to meet with Avila Ranch and representatives of such lenders to negotiate in good faith any such request for an interpretation or modification. City shall not unreasonably withhold its consent to any such requested interpretation or modification provided such interpretation or modification is consistent with the intent and purposes of this Agreement. Any person holding a mortgage, deed of trust or other security instrument on all or any portion of the Property made in good faith and for value (each, a “Mortgagee”), shall be entitled to the rights and privileges of this Article 14. Section 14.02. Impairment of Mortgage or Deed of Trust. Except as otherwise specifically stated in the terms of any security instrument held by a Mortgagee, no default under this Development Agreement shall defeat, render invalid, diminish, or impair the lien of any mortgage or deed of trust on the Property made, or other interest in the Property acquired, by any Mortgagee in good faith and for value. Section 14.03. Notice of Default to Mortgagee. If a Mortgagee has submitted a written request to City as specified herein for notice, City shall use its best efforts to provide to such Mortgagee written notification of any failure or default by Avila Ranch in the performance of Avila Ranch’s obligations under this Agreement, which notification shall be provided to such Mortgagee when such notification is delivered to Avila Ranch. Section 14.04. Right of Mortgagee to Cure. Any Mortgagee shall have the right, but not the obligation, to cure any failure or default by Avila Ranch during the cure period allowed Avila Ranch under this Agreement, plus an additional 90 days if, to cure such failure or default, the Mortgagee must obtain possession of the property as by seeking appointment of a receiver or other legal process. Any Mortgagee that undertakes to cure any such failure or default shall provide written notice to City of that fact; provided that no initiation of any such efforts by a Mortgagee shall obligate such Mortgagee to complete or succeed in any such curative efforts. Section 14.05. Liability for Past Defaults or Obligations. Subject to the foregoing, any Mortgagee, including the successful bidder at a foreclosure sale, who comes into possession of the Project or the Property or any part thereof, shall take such property subject to the Rights and Obligations of this Development Agreement and in no event shall any such property be released from any Obligations. Nothing in this Article 14 shall prevent City from exercising any remedy it may have for a default under this Development Agreement; provided, however, that in no event shall such Mortgagee be liable personally for any defaults or monetary obligations of Avila Ranch arising before such Mortgagee acquires or possesses such property. ARTICLE 15. GENERAL PROVISIONS Section 15.01. Incorporation of Recitals and Exhibits. The Recitals set forth above and the Exhibits A–J attached hereto are incorporated herein as though set forth in full. Attachment 2 Packet Page 54 36 183247.1 Section 15.02. Project is a Private Undertaking. The development Avila Ranch proposes to undertake is a private development, and Avila Ranch shall exercise full dominion and control over the Project subject only to Avila Ranch’s limitations and Obligations contained in this Agreement. Section 15.03. Cooperation in the Event of Legal Challenge. Section 15.03.1. In General. If any person not party to this Development Agreement institutes any administrative, legal or equitable action or other proceeding challenging the validity of any provision of this Agreement, any Approval or the sufficiency of any review of this Development Agreement or any Approval under CEQA (each a “Third Party Challenge”), the Parties promptly shall meet and confer as to the most appropriate response to such Third Party Challenge; provided, however, that any such response shall be consistent with Sections 15.03.2 and 15.03.3 below. Section 15.03.2. Tender to and Conduct of Defense by Avila Ranch. City shall tender the complete defense of any Third Party Challenge to Avila Ranch, and upon acceptance of such tender by Avila Ranch: (i) Avila Ranch shall indemnify City against any and all fees and costs arising out of the defense of such Third Party Challenge; and (ii) Avila Ranch shall control the defense and/or settlement of such Third Party Challenge and may take any and all actions it deems necessary and appropriate in its sole discretion in connection therewith; provided, however, that Avila Ranch shall seek and secure City’s consent to any settlement of such Third Party Challenge, which consent shall not unreasonably be withheld or delayed. Section 15.03.03. Defense by City. If Avila Ranch should fail to accept City’s tender of defense as set forth in Section 15.03.2 above, City shall defend such Third Party Challenge and control the defense and/or settlement of such Third Party Challenge as City decides (in its sole discretion), and City may take any and all actions it deems necessary and appropriate (in its sole discretion) in connection therewith; provided, however, that City shall seek and secure Avila Ranch’s consent to any settlement of such Third Party Challenge, which consent shall not unreasonably be withheld or delayed. Avila Ranch shall indemnify City against any and all fees and costs arising out of the City’s defense of such Third Party Challenge. Notwithstanding the foregoing, if Avila Ranch determines for any reason that it no longer intends to develop the Project, then it may deliver notice of such determination to City and shall not be liable for any defense costs incurred by City more than 90 days following the delivery of such notice. Section 15.04. Defense and Indemnity. Avila Ranch shall defend and indemnify City from and against any and all damages, claims, costs and liabilities arising out of the personal injury or death of any person, or damage to the property of any person, to the extent such damages, claims, costs or liabilities result from the construction of the Project by Avila Ranch or by Avila Ranch’s contractors, subcontractors, agents or employees, except as caused by the negligence or willful misconduct of City, its officers, employees, contractors, consultants or agents. Nothing in this Section 15.04 shall be construed to mean that Avila Ranch shall defend or indemnify City from or against any damages, claims, costs or liabilities arising from, or alleged to arise from, activities associated with the maintenance or repair by City or any other public agency of improvements that have been offered for dedication and accepted by City or such other public Attachment 2 Packet Page 55 37 183247.1 agency. City and Avila Ranch may from time to time enter into subdivision improvement agreements, as authorized by the Subdivision Map Act, which agreements may include defense and indemnity provisions different from those contained in this Section 15.04. If any conflict appears between such provisions in any such subdivision improvement agreement and the provisions set forth above, the provisions of such subdivision improvement agreement shall prevail. Section 15.05. Governing Law; Attorneys’ Fees. This Development Agreement shall be construed and enforced in accordance with the laws of the State of California. Venue for any dispute arising under this Agreement lies in the county of San Luis Obispo and Avila Ranch hereby consents to personal jurisdiction there for that purpose. The Parties will cooperate to facilitate venue for any Third Party Challenge set forth in Section 15.03 above in San Luis Obispo County. Should any legal action be brought by either Party because of any default under this Development Agreement, to enforce any provision of this Development Agreement, or to obtain a declaration of rights hereunder, the prevailing Party shall be entitled to such reasonable and actual attorneys’ fees, and costs as may be fixed by the Court. The standard of review for determining whether a default has occurred under this Development Agreement shall be the standard generally applicable to contractual obligations in California. The terms and provisions of this Section 15.05 shall survive any termination of this Agreement. Section 15.06. Force Majeure. Performance by any Party of its Obligations hereunder shall be excused during any period of “Permitted Delay” as hereinafter defined. For purposes hereof, Permitted Delay shall include delay beyond the reasonable control of the Party claiming the delay (and despite the good faith efforts of such Party) including, but not limited to: (i) acts of God, (ii) civil commotion and acts of terrorism, (iii) riots, (iv) strikes, picketing or other labor disputes, (v) shortages of materials or supplies, (vi) damage to work in progress by reason of fire, floods, earthquake or other casualties, (vii) failure, delay or inability of the other Party to act, (viii) as to Avila Ranch only, the failure, delay or inability of City to provide adequate levels of public services, facilities or infrastructure to the Property, (ix) as to City only, with respect to completion of the Annual Review or processing applications for Approvals, the failure, delay or inability of Avila Ranch to provide adequate information or substantiation as reasonably required to complete the Annual Review or process applications for Approvals; (x) delay caused by restrictions imposed or mandated by governmental entities other than the City; (xi) enactment of conflicting state or federal laws or regulations, (xii) judicial decisions or similar legal incapacity to perform, and (xiii) litigation brought by a third party attacking the validity of this Development Agreement. Any Party claiming a Permitted Delay shall notify the other Party (or Parties) in writing of such delay within 30 days after the commencement of the delay, which notice (“Permitted Delay Notice”) shall include the estimated length of the Permitted Delay. A Permitted Delay shall be deemed to occur for the time set forth in the Permitted Delay Notice unless a Party receiving the Permitted Delay Notice objects in writing within 10 days after receiving the Permitted Delay Notice. Upon such an objection, the Parties shall meet and confer within 30 days after the date of the objection in a good faith effort to resolve their disagreement as to the existence and length of the Permitted Delay. If no mutually acceptable solution can be reached, either Party may take action as may be permitted under Article 12 above. Section 15.07. Waiver Attachment 2 Packet Page 56 38 183247.1 Section 15.07.1. Legal Rights. Avila Ranch acknowledges and agrees that the terms and provisions of this Development Agreement specifically permit City in some instances to impose requirements upon the Project that City would not otherwise be able to impose due to a lack of nexus, rough proportionality or reasonable relationship between the Project and such requirement or other reasons. To the extent any such requirement is imposed by City upon the Project consistently with the terms and provisions of this Agreement, Avila Ranch waives any right to challenge judicially the imposition of such requirement by City. Except as otherwise provided in this Section 15.07.1, City shall comply with Applicable Law. Section 15.07.2. Other Rights. While Section 15.07.1 prohibits Avila Ranch from challenging judicially certain City requirements imposed consistently with this Agreement, nothing in this Development Agreement shall be deemed to abrogate or limit, nor be deemed to be a waiver by Avila Ranch of, any right of Avila Ranch (whether arising under the United States Constitution, the California Constitution or otherwise) to request City to refrain from imposing upon Avila Ranch, the Project or the Property any requirement that this Development Agreement permits City so to impose or otherwise petition City with respect to any matter related to the Project or the Property. Section 15.08. Notices. Any notice or communication required hereunder between the Parties must be in writing, and may be given either personally, by facsimile (with original forwarded promptly by regular U.S. Mail) or by Federal Express or other similar courier promising overnight delivery. If personally delivered, a notice or communication shall be deemed to be given and received when delivered to the Party to whom it is addressed. If given by facsimile transmission, a notice or communication shall be deemed to be given and received upon receipt of the entire document by the receiving Party’s facsimile machine. Notices transmitted by facsimile after 5:00 p.m. on a business day or on a Saturday, Sunday or holiday shall be deemed to have been given and received on the next business day. If given by Federal Express or similar courier, a notice or communication shall be deemed to be given and received when delivered as shown on a receipt issued by the courier. Such notices or communications shall be given to the Parties at their addresses set forth below: If to City to: City Manager City of San Luis Obispo 990 Palm Street San Luis Obispo, CA 93401 Telecopy/Facsimile: (805) 781-7109 With a courtesy copy to: City Attorney City of San Luis Obispo 990 Palm Street San Luis Obispo, CA 95330 Attachment 2 Packet Page 57 39 183247.1 If to Avila Ranch to: Avila Ranch, LLC C/O Andy Mangano, Managing Member 3596 South Broad Street, Suite 140 With a courtesy copy to: Meyers Nave Attn: Jon Goetz 707 Wilshire Blvd., 24th Floor Los Angeles, CA 90017 Telecopy/Facsimile: (213) 626-2906 Any Party may at any time, change its address or facsimile number for notice by giving 10 days’ written notice to the other. Section 15.09. No Joint Venture or Partnership. Nothing in this Development Agreement or in any document executed in connection with it shall be construed as creating a joint venture, partnership or any agency relationship between City and Avila Ranch. City shall have no responsibility for public improvements unless and until they are accepted by City in the manner required by law. Section 15.10. Severability. If any provision of this Development Agreement is held invalid, void or unenforceable but the remainder of this Development Agreement can be enforced without failure of material consideration to any Party, then this Development Agreement shall not be affected and shall remain in full force and effect, unless amended by mutual consent of the Parties. Section 15.11. Estoppel Certificate. Any Party and any Mortgagee may, at any time, and from time to time, deliver written notice to the other Party or Parties requesting such Party or Parties to certify in writing that, to the knowledge of the certifying Party: (i) this Development Agreement is in full force and effect and a binding obligation of the Parties, (ii) this Development Agreement has not been amended or modified either orally or in writing, and if so amended, identifying the amendments, and (iii) as of the date of the last Annual Review, the requesting Party (or any Party specified by a Mortgagee) is not in default in the performance of its obligations under this Agreement, or if in default, to describe therein the nature and amount of any such defaults. A Party receiving a request hereunder shall execute and return such certificate or give a written, detailed response explaining why it will not do so within 30 days of receipt of a request. Each Party acknowledges that such a certificate may be relied upon by third parties acting in good faith. A certificate provided by City establishing the status of this Development Agreement shall be in recordable form and may be recorded at the expense of the recording Party. Section 15.12. Further Assurances. Each Party shall execute and deliver to the other Party or Parties all such other further instruments and documents and take all such further actions as may be reasonably necessary to carry out this Development Agreement and the Approvals and to provide and secure to the other Party or Parties the full and complete enjoyment of its Rights hereunder. Section 15.13. Construction. Attachment 2 Packet Page 58 40 183247.1 (a) All Parties have been represented by counsel in the preparation of this Development Agreement and no presumption or rule that ambiguity shall be construed against a drafting party shall apply to its interpretation or enforcement. Captions on sections and subsections are provided for convenience only and shall not be deemed to limit, amend or affect the meaning of the provision to which they pertain. If any conflict appears between this Development Agreement and the rules, regulations or official policies of City, the provisions of this Development Agreement shall prevail and be deemed to have amended any such conflicting rules, regulation or official policy as of the Effective Date. (b) The Parties intend this Development Agreement to be consistent with the requirements of Chapter 17.94 of the City’s zoning ordinance and it shall be construed consistently with that intent. Should any conflict arise between this Agreement and that Chapter 17.94 as it exists on the Effective Date, that Chapter 17.94 shall control. Section 15.14. Other Miscellaneous Terms. In construing this Agreement, the singular includes the plural; the masculine gender includes the feminine and the neuter; “shall” is mandatory; “may” is permissive. Section 15.15. Counterpart Execution. This Development Agreement may be executed in any number of counterparts and shall be deemed duly executed when each of the Parties has executed such a counterpart. Section 15.16. Time. Time is of the essence of each and every provision of this Agreement. Section 15.17. Good Faith/Fair Dealing. The Parties agree that a covenant of good faith and fair dealing shall apply to all actions of the Parties. As used herein, this covenant shall mean that the Parties shall act reasonably, and no Party shall do anything which shall have the effect of destroying or injuring the rights of any other Party to receive the benefit of its bargain in this Agreement. Nothing in this Section 15.17 shall detract from the principle of Section 12.02.4 that neither Party shall be entitled to damages for breach of this Agreement. Section 15.18. Exhibits. List of Exhibits: A – Avila Ranch SP Site Plan  B – Legal Description  C – Financing Plan  D – Phasing Plan  E‐1 – Backbone Water Infrastructure  E‐2 – Backbone Sewer Infrastructure  E‐3 – Backbone Recycled Water Infrastructure  E‐4 –Backbone Drainage Infrastructure  F – Figure 5 of Conservation & Open Space Element   G – Affordable/Workforce Housing Plan  Attachment 2 Packet Page 59 41 183247.1 H – Water Improvements  I – Water Well Site Plan  J – Bicycle Improvements  IN WITNESS WHEREOF, the Parties have executed this Development Agreement as of the Execution Date above. CITY: CITY OF SAN LUIS OBISPO, a municipal corporation By: ______________________________________ Heidi Harmon, Mayor APPROVED AS TO FORM: By: ______________________________________ J. Christine Dietrick, City Attorney AVILA RANCH, LLC: By:______________________________________ Andrew D. 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