City Council

5.1. PUBLIC HEARING REGARDING CONSIDERATION OF THE OPERATING COVENANT AGREEMENT WITH HUNT AND SONS, LLC, AND THE RELATED ECONOMIC SUBSIDY REPORT Recommended Action: 1. Open and conduct a public hearing; 2. Declare that this project is exempt from the California Environmental Quality Act CEQA) under Section 15378(b)(4) because the Covenant Agreement involves the creation of a government funding mechanism, or other fiscal activity, that does not involve any commitment to any specific project which may result in a direct or indirect physical change in the environment; 3. Adopt the Resolution approving the acceptance of the Economic Development Subsidy Report prepared pursuant to Government Code Section 53083 regarding an operating covenant agreement by and between the City of Aliso Viejo and Hunt and Sons, LLC, and approving the operating covenant agreement between the City of Aliso Viejo and Hunt and Sons, LLC and making related findings; 4. Authorize the Director of Financial Services to appropriate $880,000 to the fiscal year 2023-24 budget for subsidy payments to Hunt and Sons, LLC; and 5. Authorize the City Manager to execute all related documents. Staff Report Attachment 1 - Resolution Attachment 2 - Operating Covenant Agreement Attachment 3 - Economic Development Subsidy Report