City Council

5. EXTENSION OF EXCLUSIVE NEGOTIATING AGREEMENT WITH\nAVALONBAY COMMUNITIES INC. AND ABODE COMMUNITIES FOR\nPORTIONS OF TUSTIN LEGACY DISPOSITION AREAS 2B, 2C AND 8\nRequest for approval of an extension of the Exclusive Negotiating\nAgreement (ENA) with AvalonBay Communities Inc. (AvalonBay) and\nAbode Communities (Abode) (collectively, “Developer”) to continue the\nnegotiating period for the disposition and development of portions of\nDisposition Areas 2B, 2C and 8 at Tustin Legacy for a multifamily mixed-\nuse project for an additional 180 days.\nRecommendation: Approve an extension of the ENA of an additional\nperiod of ninety (90) days, as well as an option for the City Manager to\ngrant an additional ninety (90) day extension and authorize the City\nManager to provide written notice of the ENA extension terms to the\nDeveloper.\nAgenda Report\nOTHER BUSINESS/CITY MANAGER AND CITY ATTORNEY\nCOUNCIL MEMBER COMMENTS AND REPORTS