City Council

17. FIRST AMENDMENT TO DEVELOPMENT AGREEMENT 2022-0002 -\nTHE JESSUP AT 17802 - 17842 IRVINE BOULEVARD The project is a\nrequest for the first amendment to Development Agreement 2022-0002,\nan agreement between the City of Tustin and Tustin 40 Development LLC.\nfor "The Jessup" residential project. The proposed amendment is a\nrequest to eliminate the owner’s requirement to pay for the Voluntary\nWorkforce Housing Incentive Program In-Lieu Fee in conjunction with the\nproject. On July 9, 2024, the City of Tustin Planning Commission held a\npublic hearing on the proposed request and adopted Resolution No. 4492,\nrecommending that the City Council adopt Ordinance No. 1544 approving\nthe first amendment to Development Agreement 2022-0002.\nRecommendation: That the City Council conduct first reading of\nOrdinance No. 1544, by title only, for the first amendment to Development\nAgreement 2022-0002 and set second reading to the next available\nCouncil meeting. Fiscal Impact: Staff anticipates that the fiscal impact\nwould be $289,560 to the inclusionary housing fund due to waiving the\nfees. ORDINANCE NO. 1544 AN ORDINANCE OF THE CITY COUNCIL\nOF THE CITY OF TUSTIN, APPROVING FIRST AMENDMENT TO\nDEVELOPMENT AGREEMENT (DA) 2022-0002, TO ELIMINATE\nOWNER'S REQUIREMENT TO PAY FOR THE VOLUNTARY\nWORKFORCE HOUSING INCENTIVE PROGRAM IN-LIEU FEE FOR\nTHE "THE JESSUP" RESIDENTIAL PROJECT LOCATED AT 17802 AND\n17842 IRVINE BOULEVARD.