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ORDINANCE NO. 3321 OF THE CITY OF CHULA VISTA APPROVING THE FIRST AMENDMENT TO THE RESTATED AND AMENDED PRE-ANNEXATION DEVELOPMENT AGREEMENT BETWEEN THE OTAY LAND COMPANY, LLC AND THE CITY OF CHULA VISTA FOR PROPERTIES WITHIN THE OTAY RANCH PLANNED COMMUNITY (SECOND READING AND ADOPTION)
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RECOMMENDED ACTION
Recommended Action
Council adopt the ordinance.
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SUMMARY
In 1997, the City of Chula Vista entered into a Restated and Amended Pre-Annexation Development Agreement with Otay Ranch, L.P., the property owner at that time. The agreement provided certain assurances to the City, while providing the owner with certainty in the planning process for the Otay Ranch (See Attachment 3). The original term of the agreement was 20 years. With the breakup in ownership of properties in the Otay Ranch beginning in the late 1990's, Otay Land Company, LLC purchased several large parcels that were subject to the Agreement. Since development agreements "run with the land", the Otay Land Company (OLC) became a party to the agreement for their portions of property within the original agreement.
On April 15, 2008, the City of Chula Vista entered into a Land Offer Agreement (LOA) with OLC that would allow the City of Chula Vista to accept Irrevocable Offers of Dedication (IODs) for 50 acres of developable University/Regional Technology Park land if certain entitlements are approved within the agreed upon timeframes. These entitlements, in the form of Sectional Planning Area (SPA) Plans and Tentative Maps (TMs) for OLC's Villages 8 West and 9 were approved in December 2013 and June 2014, respectively.
Exhibit C of the LOA also stipulated certain amendments to the Development Agreement that needed to be approved in order to assume the benefits described above. These amendments are presented for action in this report.
ENVIRONMENTAL REVIEW
The Development Services Director has reviewed the proposed project for compliance with the California Environ...
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