ARA1997-06RESOLUTION NO. ARA9 7- 6
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY
APPROVING THE FOURTH AMENDMENT TO DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND BETWEEN THE ANAHEIM
REDEVELOPMENT AGENCY AND KAUFMAN AND BROAD OF
SOUTHERN CALIFORNIA, INC.
WHEREAS, the Anaheim Redevelopment Agency (the "Agency") and Kaufman and
Broad of Southern California, Inc., a California corporation, (the "Developer") have entered into that
certain Disposition and Development Agreement dated October 16, 1993 (the "Original DDA"), as
amended by (i) that certain First Amendment to Disposition and Development Agreement dated
November 15, 1994 (the "First Amendment") (ii) that certain Second Amendment to Disposition and
Development Agreement dated July 9, 1996 (the "Second Amendment") and (iii) that certain Third
Amendment to Disposition and Development Agreement dated May 20, 1997. Pursuant to the DDA,
as amended by the First Amendment, the Agency has conveyed certain real property (the "Original
Site") to the Developer, and the Developer has completed the construction of single family houses and
townhouses thereon; and
WHEREAS, pursuant to the terms of Section 15 of the Disposition and Development
agreement between the Agency, the Developer and Lincoln Anaheim Village Limited Partnership, a
California limited partnership, dated as of April 31, 1992, the Agency and Developer entered into a
"Negotiating Period" for the development of the "Cypress Street Infill Project" (as such capitalized
terms are defined therein). The Second Amendment provides for the development of the Cypress
Street Infill Project; and
WHEREAS, the Third Amendment (together with the Original DDA, the First
Amendment and Second Amendment, the "Amended DDA") amended certain provisions relative to
the development of Cypress Street Infill Project and provided for the development of 61 units,
including affordable and market rate townhouses and single family residences (the "K&B Project");
and
WHEREAS, the Agency and Developer desire to enter into a Fourth Amendment to
Disposition and Development Agreement (the "Fourth Amendmere"), the purpose of which is to
amend and restate certain provisions in the Amended DDA relative to the development of the K&B
Project and thereby provide that the Developer construct 58 units oftownhomes and detached single-
family homes on seven (7) non-contiguous parcels of real property aggregating approximately four
and ninety eight hundredths (4.98) acres (collectively the "Additional Parcels"); and
WHEREAS, a portion of the Additional Parcels (the "Cypress Infill Parcels") is located
adjacent to but outside of the Agency's Alpha Redevelopment Project Area (The "Project"). The
Agency has found and determined that the use of the Agency's Low and Moderate Income Housing
Funds outside of the boundaries of the Project for the costs associated with the Cypress Infill Parcels
pursuant to the Fourth Amendment is of benefit to the Project; and