11. LIMITED WAIVER OF VESTED RIGHTS PURSUANT TO DEVELOPMENT AGREEMENT (DA) 2023-0002 On November 21, 2023, the City Council approved DA 2023-0002 in conjunction with a proposed development of 42 residential units including seven (7) live-work units and 35 residential condominium units, with two (2) units being affordable to very-low income households, at 14042 Newport Avenue. The development is located in the Downtown Commercial Core Specific Plan (DCCSP). As required by Tustin City Code (TCC), the proposed development must include affordable housing on-site and payment of in-lieu fee for one-half of the base units provided on-site. On March 5, 2024, the City Council adopted a policy to temporarily suspend the requirement to pay an affordable housing in-lieu fee in conjunction with development proposals in the DCCSP and Red Hill Avenue Specific Plan (RHASP) for 36 months. KB HOME Cal Management Services LLC (KB Home) is requesting a limited waiver of vested rights pursuant to DA 2023-0002 to retroactively apply the suspension of the requirement to pay an affordable housing in-lieu fee to their project. - City of Tustin, CA

Meeting: Regular Meeting of the City Council/Closed Session-5:30 pm/Regular Meeting-7:00 pm

Meeting Time: June 18, 2024 at 7:00pm PDT

Agenda Item

11. LIMITED WAIVER OF VESTED RIGHTS PURSUANT TO DEVELOPMENT AGREEMENT (DA) 2023-0002 On November 21, 2023, the City Council approved DA 2023-0002 in conjunction with a proposed development of 42 residential units including seven (7) live-work units and 35 residential condominium units, with two (2) units being affordable to very-low income households, at 14042 Newport Avenue. The development is located in the Downtown Commercial Core Specific Plan (DCCSP). As required by Tustin City Code (TCC), the proposed development must include affordable housing on-site and payment of in-lieu fee for one-half of the base units provided on-site. On March 5, 2024, the City Council adopted a policy to temporarily suspend the requirement to pay an affordable housing in-lieu fee in conjunction with development proposals in the DCCSP and Red Hill Avenue Specific Plan (RHASP) for 36 months. KB HOME Cal Management Services LLC (KB Home) is requesting a limited waiver of vested rights pursuant to DA 2023-0002 to retroactively apply the suspension of the requirement to pay an affordable housing in-lieu fee to their project.