RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM ESTABLISHING A PERFORMANCE TIME
SCHEDULE FOR THE TENTH ANNIVERSARY DATE AS SET
FORTH IN THE AMENDED AND RESTATED
DEVELOPMENT AGREEMENT NO. 2005-00008 BETWEEN
THE CITY OF ANAHEIM AND PT METRO, LLC AND
DETERMINE SUBSEQUENT ENVIRONMENTAL IMPACT
REPORT NO. 339 FOR THE REVISED PLATINUM TRIANGLE
EXPANSION PROJECT, ALONG WITH MITIGATION
MONITORING PLAN NO. 321, ARE THE APPROPRIATE
ENVIRONMENTAL DOCUMENTATION FOR THIS REQUEST
WHEREAS, Article 2.5 of Chapter 4 of Division 1 of Title 7 (commencing with Section 65864) of the Government Code of the State of California (herein referred to as the “Statute”) authorizes a city to enter into a contract, which is called a development agreement, in order to establish with certainty what regulations will govern the construction of a development; and WHEREAS, on November 23, 1982, the City Council of the City of Anaheim (herein referred to as the “City Council”) enacted Ordinance No. 4377, and pursuant to subdivision (c) of Section 65865 of the Statute, adopted Resolution No. 82R-565 (herein referred to as the “Procedures Resolution”), establishing procedures and requirements for consideration of development agreements upon receipt of an application by the City; and WHEREAS, On October 20, 2015, the City Council of the City of Anaheim adopted Ordinance No. 6345 approving that certain Amended and Restated Development Agreement No. 2005-00008, dated October 27, 2015 and recorded in the Official Records of Orange County California on November 13, 2015 as Instrument No. 2015000586936 (the “Development Agreement”) between the City of Anaheim and PT Metro, LLC (“Developer”) with respect to that certain real property located at 1404 East Katella Avenue and generally depicted on the map attached hereto as Exhibit A and legally described in Exhibit B attached hereto, with both exhibits incorporated herein by this reference (the "Property"); and WHEREAS, On June 12, 2018, the City Council of the City of Anaheim adopted Ordinance No. 6437 approving that certain Amendment No. 1 to the Development Agreement, dated June 12, 2018 and recorded in the Official Records of Orange County California on May 3, 2019 as Instrument No. 2019000148064 (“Amendment No. 1”) between the City of Anaheim and PT Metro, LLC, pursuant to Section 19 of the Development Agreement, PT Metro, LLC amended the development milestones set forth in Exhibit G to the Development Agreement. Specifically, Developer modified the development milestones relative to the timing and completion of residential units within the 5-year and 7.5-year anniversary of the Development Agreement; and WHEREAS, the Development Agreement inclusive of Amendment No. 1, thereto shall hereinafter be referred to as the “Development Agreement.” Unless otherwise defined herein all -2-
capitalized terms shall have the meanings ascribed to such terms in the Development Agreement, as amended. Copies of the Development Agreement are available as a public record in the office of the City Clerk located at 200 South Anaheim Boulevard, Anaheim, California; and WHEREAS, Exhibit “G” of the Development Agreement is entitled “Term Extension Milestones,” and sets forth various project milestones in connection with extension of the Development Agreement; and
WHEREAS, the first milestone by the fifth (5th) anniversary of the date of the Authorizing Ordinance set forth in the Development Agreement requiring completion of 400 residential units, amongst other requirements, was completed by the Developer; and WHEREAS, the second milestone by the seven and one half years of the date of the Authorizing Ordinance set forth in the Development Agreement requiring completion of an additional 150 residential units for a total of 550 residential units was completed by the Developer; and
WHEREAS, the third milestone by the tenth (10th) anniversary of the date of the Authorizing Ordinance set forth in the Development Agreement requires completion of 500 residential units beyond the cumulative 550 residential units for a total of 1,1000 residential units completed; and
WHEREAS, the completion date for the third milestone by the tenth (10th) anniversary of the date of the Authorizing Ordinance set forth in the Development Agreement has now passed with 132 residential units remain outstanding; and
WHEREAS, on December 16, 2025, the City Council determined that Developer was not in compliance with the terms and conditions of the Development Agreement for the 2025 review period and in accordance with the process set forth in Section 7 of the Procedures Resolution directed staff to notify Developer of its intent to establish new development timeframes for the tenth anniversary date as set forth in the Development Agreement as an alternative to modification or termination of the Development Agreement; and
WHEREAS, the Developer has requested an extension to further amend the development milestones set forth in Paragraph three (3) of Exhibit G to the Development Agreement, to require the completion (approval of final building inspections) of an additional 500 residential units beyond the cumulative 550 residential units (1100 total residential units completed) on or before July 31, 2026; and
WHEREAS, pursuant to the Procedures Resolution, compliance with the performance schedule established by City Council as an alternative to modification or termination of the Development Agreement shall be subject to periodic review in the manner set forth in Sections 6 and 7 of the Procedures Resolution and lack of good faith compliance therewith shall be a basis for termination or modification of the Development Agreement; and WHEREAS, pursuant to the California Environmental Quality Act (Public Resource Code Section 21000 et seq.; herein referred to as “CEQA”) and the State of California Guidelines for -3-
Implementation of the California Environmental Quality Act (commencing with Section 15000 of Title 14 of the California Code of Regulations; herein referred to as the “CEQA Guidelines”), the City is the “lead agency” for the preparation and consideration of environmental documents for this resolution; and
WHEREAS, the City Council finds and determines that SEIR No. 339, together with Mitigation Monitoring Plan No. 321 and all supporting and subsequent environmental documentation remain relevant and retain informational value as to the project contemplated in the Development Agreement, are the appropriate environmental documentation for this request.
Additionally, there is no new information of substantial importance that the City, as Lead Agency, did not know and could not have known previously. The establishment of new performance timelines will not increase the unit count, or otherwise increase the intensity of the project.
NOW, THEREFORE, BE IT RESOLVED that the Anaheim City Council, does hereby establish the following revised performance timeline for Section 3 of Exhibit “G” of the Development Agreement:
1. Milestones to be Completed by the tenth (10th) anniversary of the date of the Authorizing Ordinance or July 31, 2026, whichever occurs later, In Order to Receive the Third 5-Year Extension of the Development Agreement Term.
NOW THEREFORE BE IT FURTHER RESOLVED that except has expressly provided to the contrary herein, all provisions of the Development Agreement remain in full force and effect.
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THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim this day of , 2026, by the following roll call vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
CITY OF ANAHEIM
By ________________________________
MAYOR OF THE CITY OF ANAHEIM
ATTEST:
______________________________________
CITY CLERK OF THE CITY OF ANAHEIM
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EXHIBIT "A"
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EXHIBIT "B"Legal Description of the PropertyTHE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF ANAHEIM, COUNTY OF ORANGE, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:ALL OF LOTS 1 THROUGH 14, INCLUSIVE, LOTS A, B, MARKET STREET, BRYANT STREET,GRANVILLE DRIVE, TRIAD STREET, UNION STREET, MERIDIAN LANE, METRO DRIVE, PARK LANE AND WESTSIDE DRIVE OF TRACT NO. 16859 AS SHOWN ON A MAP RECORDED IN BOOK 892, PAGES 1 THROUGH 10, INCLUSIVE, OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. -7-