Reso 2022-086 2nd amendment to DDA

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REVISED DDA SCHEDULE OF PERFORMANCE (June 2022 Revision) Developer obtains all necessary City and other Prior to the first to occur: 1) Permit public agency permits for Site Preparation for Issuance for Vertical Improvements for any Developer Western Elements and commences one of Developer Project Elements, construction including the first single family or townhome, or 2) 24 months following Effective Date of Ground Leases for Developer Hotel, Developer Restaurant, Market and Multifamily Elements Developer substantially completes Site Within 24 months following Preparation for Developer Western Elements commencement of construction of Site Preparation for Developer Western Elements 4. Monarch Bay Drive Element Developer commences construction of Monarch Prior to the first to occur: 1) Permit Bay Drive Element Issuance for Vertical Improvements for any one of Developer Project elements, including the first single family or townhome or 2) as otherwise approved in the applicable Public Improvement Agreement Developer substantially completes Monarch Bay Prior to the first to occur: 1) Issuance of a Drive Element Certificate of Occupancy for any one of Developer's Project Elements, including the first single family or townhome or 2) 24 months following the commencement of construction of the Monarch Bay Drive Element, with final timing as to be approved by City in the applicable Public Improvement Agreement 5. Infrastructure Element In accordance with the Development Agreement, City and Developer shall use good faith efforts to coordinate and make compatible the construction schedules for the City's construction of the Park Element with Developer's construction of Project Elements adjacent to the Park Element. Developer substantially completes Park Element Prior to the first to occur: 1) Issuance of a Parking Lot and improvements to Mulford Point Certificate of Occupancy for the Developer Drive Hotel Element or Developer Restaurant