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ORDINANCE 2000- 19 <br />• AN ORDINANCE OF THE CITY COUNCIL OF THE CITY <br />OF NEWPORT BEACH ADOPTING A DEVELOPMENT <br />AGREEMENT BETWEEN THE CITY OF NEWPORT <br />BEACH AND THE IRVINE COMPANY [DEVELOPMENT <br />AGREEMENT NO. 141 <br />The City Council of the City of Newport Beach DOES HEREBY ORDAIN as follows: <br />SECTION <br />1. The City Council finds and declares that: <br />a. <br />The State Legislature and the City Council have determined that the lack of certainty <br />in the approval of development projects can result in a waste of resources, escalate <br />the cost of housing and other development to the consumer, and discourage <br />investment in and commitment to the comprehensive planning which would make <br />maximum efficient utilization of resources at the least economic cost to the public; <br />and <br />b. <br />Assurance that an applicant may proceed with a project in accordance with existing <br />policies, rules and regulations, and subject to conditions of approval, will strengthen <br />• <br />the public planning process, encourage private participation in comprehensive <br />planning, and reduce the economic costs of development; and <br />C. <br />California government Code Section 65864 et seq. authorizes cities to enter into <br />development agreements with any person having a legal or equitable interest in <br />property for the development of the property; and <br />d. <br />Chapter 15.45 of the Newport Beach Municipal code provides requirements and <br />procedures for the amendment of development agreements; and <br />e. <br />The Development Agreement has been prepared in compliance with state law and <br />the Newport Beach Municipal Code; and <br />f. <br />On September 21, 2000, the Planning Commission of the City of Newport Beach <br />held a duly- noticed public hearing regarding the proposed Development Agreement <br />and; and <br />g. <br />The Planning Commission found that the Development Agreement is in <br />conformance with the Newport Beach General Plan, as proposed by accompanying <br />• <br />General Plan Amendment No. 99 -3(C), and forwarded the Development Agreement <br />