RESOLUTION NO. 2026-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM,
CALIFORNIA APPROVING THE ACQUISITION AGREEMENT
PROVIDING FOR THE ACQUISITION OF THE CFD 08 -1
IMPROVEMENTS AS CONTEMPLATED IN THE OCVIBE MIXED -USE
PROJECT AMENDED AND RESTATED DEVELOPMENT AGREEMENT
NO. 2020- 00004 BETWEEN THE CITY OF ANAHEIM AND ANAHEIM
REAL ESTATE PARTNERS, LLC
WHEREAS, the City of Anaheim (“Anaheim” or the “City”) , Anaheim Real Estate Partners, LLC, TS Anaheim, LLC, and FCD, LLC (“Owner”) (collectively referred to as “Parties”) entered into Development Agreement No. 2020- 00004 dated October 4, 2022 and recorded as Orange County Document No. 2023000180674 on July 27, 2023, as amended and restated in its entirety by that certain Amended and Restated Development Agreement No. 2020-00004 dated as of December 23, 2024 and recorded as Document No. 2024000332377 (collectively, the “Development Agreement”); and
WHEREAS, Section 14.5 of the Development Agreement provides that Owner shall construct certain public roads, utility improvements, and other public infrastructure which qualify (i) as authorized facilities under CFD 08 -1 (“CFD 08-1 Improvements”), and (ii) for acquisition by City/CFD 08- 1 with either (i) proceeds of newly issued bonds by CFD 08- 1 ( “CFD 08 -1 Bonds”), (ii) through special taxes levied and collected in accordance with the CFD 08 -1 RMA and not otherwise used to pay debt service on outstanding bonds issued by CFD 08- 1, or (iii) through Owner's prepayments of CFD 08-1 special taxes deposited into the Construction Fund (as defined in the CFD 08-1 RMA); and
WHEREAS, Section 14.5 of the Development Agreement further provides that City and Owner shall execute a Platinum Triangle Acquisition Agreement (“Acquisition Agreement”), in a form substantially consistent with Exhibit Q attached to the Development Agreement , which provides, in part, for the City's acquisition of the CFD 08- 1 I mprovements, the Owner's conveyance of the CFD Improvements to the City/CFD 08-1, and the reimbursement of the Owner for any such CFD 08-1 Improvements in an amount not to exceed the Owner's Share of CFD 08- 1 Bond Capacity; and
WHEREAS, the City and Owner have negotiated the Acquisition Agreement, attached hereto and incorporated herein as Exhibit A, which is based on the form of the Acquisition Agreement attached to the Development Agreement with such modifications as are necessary to reflect the current status of the Project and to effectively implement the intent of the Development Agreement; and
NOW, BE IT RESOLVED THEREFORE, THE CITY COUNCIL OF THE
CITY OF ANAHEIM, CALIFORNIA, DOES RESOLVE, DECLARE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. The foregoing recitals are true and correct.
SECTION 2. The City Council hereby approves the Acquisition Agreement attached hereto as Exhibit A.
SECTION 3. The City Council hereby authorizes the Interim City Manager to sign the Acquisition Agreement on behalf of the City.
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
Exhibit A
“Acquisition Agreement”