City Council

17. FIRST AMENDMENT TO DEVELOPMENT AGREEMENT 2022-0002 - THE JESSUP AT 17802 - 17842 IRVINE BOULEVARD The project is a request for the first amendment to Development Agreement 2022-0002, an agreement between the City of Tustin and Tustin 40 Development LLC. for "The Jessup" residential project. The proposed amendment is a request to eliminate the owner’s requirement to pay for the Voluntary Workforce Housing Incentive Program In-Lieu Fee in conjunction with the project. On July 9, 2024, the City of Tustin Planning Commission held a public hearing on the proposed request and adopted Resolution No. 4492, recommending that the City Council adopt Ordinance No. 1544 approving the first amendment to Development Agreement 2022-0002. Recommendation: That the City Council conduct first reading of Ordinance No. 1544, by title only, for the first amendment to Development Agreement 2022-0002 and set second reading to the next available Council meeting. Fiscal Impact: Staff anticipates that the fiscal impact would be $289,560 to the inclusionary housing fund due to waiving the fees. ORDINANCE NO. 1544 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF TUSTIN, APPROVING FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (DA) 2022-0002, TO ELIMINATE OWNER'S REQUIREMENT TO PAY FOR THE VOLUNTARY WORKFORCE HOUSING INCENTIVE PROGRAM IN-LIEU FEE FOR THE "THE JESSUP" RESIDENTIAL PROJECT LOCATED AT 17802 AND 17842 IRVINE BOULEVARD.