8. SECOND AMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT (DDA) WITH BROOKFIELD HOMES SOUTHERN CALIFORNIA LLC, FOR DISPOSITION PACKAGE 2C AND 8 AT TUSTIN LEGACY Request for authorization to approve the Second Amendment to the Disposition and Development Agreement (DDA) with Brookfield Homes Southern California LLC (Brookfield) for portions of disposition parcels 2c and 8 for the development of a for-sale residential community consisting of 400 homes on approximately 25.4 net acres at Tustin Legacy. The project, called “The Landing”, consists of three home types: single-family detached homes (Cira), townhomes (Luna), and flats (Terra). Brookfield is seeking City approval to create single purpose entities for each of the three home types for the purposes of construction, marketing and sales. This would involve transfer of the homesites by type to the three single purpose entities (Builder Transferees) which are wholly owned affiliates of Brookfield. All obligations under the DDA would remain unchanged and both Brookfield and the Builder Transferees would be jointly and severally liable for the terms of the agreement and Brookfield is not released from such obligations and required performance under the DDA. - City of Tustin, CA

Meeting: Regular Meeting of the City Council/ Closed Session at 5:00 pm/Regular Meeting at 6:30 pm

Meeting Time: December 21, 2021 at 5:00pm PST

Agenda Item

8. SECOND AMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT (DDA) WITH BROOKFIELD HOMES SOUTHERN CALIFORNIA LLC, FOR DISPOSITION PACKAGE 2C AND 8 AT TUSTIN LEGACY Request for authorization to approve the Second Amendment to the Disposition and Development Agreement (DDA) with Brookfield Homes Southern California LLC (Brookfield) for portions of disposition parcels 2c and 8 for the development of a for-sale residential community consisting of 400 homes on approximately 25.4 net acres at Tustin Legacy. The project, called “The Landing”, consists of three home types: single-family detached homes (Cira), townhomes (Luna), and flats (Terra). Brookfield is seeking City approval to create single purpose entities for each of the three home types for the purposes of construction, marketing and sales. This would involve transfer of the homesites by type to the three single purpose entities (Builder Transferees) which are wholly owned affiliates of Brookfield. All obligations under the DDA would remain unchanged and both Brookfield and the Builder Transferees would be jointly and severally liable for the terms of the agreement and Brookfield is not released from such obligations and required performance under the DDA.