City Council

5. EXTENSION OF EXCLUSIVE NEGOTIATING AGREEMENT WITH AVALONBAY COMMUNITIES INC. AND ABODE COMMUNITIES FOR PORTIONS OF TUSTIN LEGACY DISPOSITION AREAS 2B, 2C AND 8 Request for approval of an extension of the Exclusive Negotiating Agreement (ENA) with AvalonBay Communities Inc. (AvalonBay) and Abode Communities (Abode) (collectively, “Developer”) to continue the negotiating period for the disposition and development of portions of Disposition Areas 2B, 2C and 8 at Tustin Legacy for a multifamily mixed- use project for an additional 180 days. Recommendation: Approve an extension of the ENA of an additional period of ninety (90) days, as well as an option for the City Manager to grant an additional ninety (90) day extension and authorize the City Manager to provide written notice of the ENA extension terms to the Developer. Agenda Report OTHER BUSINESS/CITY MANAGER AND CITY ATTORNEY COUNCIL MEMBER COMMENTS AND REPORTS