2014/11/21 Agreement FY15 Heritage Square Development DOC # 2014-0447950
11/21/2014 03:35P Fee:NC
Pape 1 of lag
Recorded in Official Records
Recording Requested by And county of Riverside
When Recorded Return to: QtSeSgpr Larry U. Ward
' County Clark & Recorder
City of Menifee I IIIIIIIIIIIII IIII IIIIIIIIIIIIIIIIIIIII III(IIII IIII II
29714 Haun Road II
Menifee, CA 92586 R. U PAGE SIZE I DA I MISC I LONG KFu OPY
Attn: City Clerk EXAM
M A L 465 426 PCOR NCOR SMF NCHG !I
T: CTY UNI
(Exempt from Recording Fee per Gov.Code§6103)
DEVELOPMENT AGREEMENT
This Development Agreement (hereinafter "Agreement") is entered into this day of L711
ovemk12i" 2014, (hereinafter the "Effective Date") by and between the CITY OF
MENIFEE, a municipal corporation (hereinafter "City"), and Heritage Square, L.P., a California
limited partnership, ("hereinafter"Developer").
RECITALS
A. California Government Code Sections 65864 et seq. ("Development Agreement
Law") authorizes cities to enter into binding development agreements with persons having a
legal or equitable interest in real property for the development of such property, all for the
purpose of strengthening the public planning process, encouraging private participation and
comprehensive planning and identifying the economic costs of such development.
B. Developer is the owner of legal and/or equitable interests in certain real property
legally described in Exhibit "A" attached hereto and incorporated herein (the "Property"), and
thus qualifies to enter into this Agreement in accordance with Development Agreement Law.
C. Developer and City agree that a development agreement should be approved and
adopted for this Property in order to memorialize the property expectations of City and
Developer as more particularly described herein.
D. The City Council has found that this Agreement is in the best public interest of
the City and its residents, adopting this Agreement constitutes a present exercise of the City's
police power, and this Agreement is consistent with the City's General Plan. This Agreement and
the proposed Project (as hereinafter defined)will achieve a number of City objectives, including the
orderly development of the Property; the providing of public benefits to the City and its residents
through public improvements, improvements to the Property, and street improvements in and
around the Property.
E. City finds and determines that all actions required of City precedent to approval of
this Agreement by Ordinance No.2014-158 of the City Council have been duly and regularly
taken.
I DEVELOPMENT AGREEMENT
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