City Council

12. DEVELOPMENT AGREEMENT 2024-0003, VESTING TENTATIVE TRACT MAP 19353, DESIGN REVIEW 2024-0013 AND DENSITY BONUS REQUEST The Irvine Company is requesting approval of Development Agreement (DA) 2024-0003, Vesting Tentative Tract Map 19353 (SUB 2024-0004), Design Review (DR) 2024-0013 and a Density Bonus request related to the development of a total of 1,336 apartment units, which includes 334 affordable units within Neighborhood D South of the Tustin Legacy Specific Plan. The Planning Commission held a public hearing on January 14, 2025, and adopted Resolutions No. 4514 and 4515, finding the location, purpose, and extent of the proposed disposition of real property is consistent with the General Plan and Tustin Legacy Specific Plan, and recommending that the City Council adopt Resolution No. 25-07 to approve DR 2024-0013, SUB 2024-0004, and a Density Bonus request and related deviations, and adopt Ordinance No. 1561 to approve DA 2024-0003. Applicant: Irvine Company Attn: Kevin Roberts, 550 Newport Center Drive, Newport Beach CA 92660 Location: Lots 11, 12 And 13 Of Tract 18197; Generally Bounded By Warner Avenue To The North, Legacy Avenue To The East, Compass Avenue To The West And Tustin Ranch Road To The South, Within Planning Area 13 And 14 Of Neighborhood D, Tustin Legacy Specific Plan. General Plan: Tustin Legacy Specific Plan Zoning: Tustin Legacy Specific Plan Recommendation: That the City Council: 1. Adopt Resolution No. 25-07 approving Design Review (DR) 2024-0013, Vesting Tentative Tract Map (VTTM) 19353 and a Density Bonus request. 2. Conduct first reading by title only for Ordinance No. 1561, approving Development Agreement (DA) 2024-0003 to facilitate the development and conveyance of a 19.4- acre project site and set the second reading at a future Council meeting. RESOLUTION NO. 25-07 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA, APPROVING SUB 2024- 0004/VESTING TENTATIVE TRACT MAP 19353, DESIGN REVIEW 2024-0013, AND A REQUEST FOR DENSITY BONUS, FOR THE DEVELOPMENT OF 1,336 APARTMENT HOMES ON LOTS 11, 12, AND 13 OF TRACT 18197 WITHIN PLANNING AREA 13 and 14 (NEIGHBORHOOD D) OF THE TUSTIN LEGACY SPECIFIC PLAN. ORDINANCE NO. 1561 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA, APPROVING DEVELOPMENT AGREEMENT 2024-0003 BETWEEN THE CITY OF TUSTIN AND IRVINE COMPANY FOR THE DEVELOPMENT OF A 19.4-ACRE SITE WITHIN TUSTIN LEGACY WITH 1,336 APARTMENT HOMES INCLUDING 334 AFFORDABLE UNITS Fiscal Impact: The applicant has paid the required application fees for the proposed project. The fiscal impact resulting from the sale of the property, and other actions related to the sale, will be addressed within the City Council's consideration of the project's Disposition and Development Agreement (DDA), which is not a part of this request.