City Council

5.1. PUBLIC HEARING REGARDING CONSIDERATION OF THE OPERATING COVENANT\nAGREEMENT WITH HUNT AND SONS, LLC, AND THE RELATED ECONOMIC\nSUBSIDY REPORT\nRecommended Action:\n1. Open and conduct a public hearing;\n2. Declare that this project is exempt from the California Environmental Quality Act\nCEQA) under Section 15378(b)(4) because the Covenant Agreement involves the\ncreation of a government funding mechanism, or other fiscal activity, that does not\ninvolve any commitment to any specific project which may result in a direct or indirect\nphysical change in the environment;\n3. Adopt the Resolution approving the acceptance of the Economic Development Subsidy\nReport prepared pursuant to Government Code Section 53083 regarding an operating\ncovenant agreement by and between the City of Aliso Viejo and Hunt and Sons, LLC,\nand approving the operating covenant agreement between the City of Aliso Viejo and\nHunt and Sons, LLC and making related findings;\n4. Authorize the Director of Financial Services to appropriate $880,000 to the fiscal year\n2023-24 budget for subsidy payments to Hunt and Sons, LLC; and\n5. Authorize the City Manager to execute all related documents.\nStaff Report\nAttachment 1 - Resolution\nAttachment 2 - Operating Covenant Agreement\nAttachment 3 - Economic Development Subsidy Report