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ORDINANCE NO. 2364 <br /> AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ARCADIA, <br /> CALIFORNIA, APPROVING DEVELOPMENT AGREEMENT NO. DA 19- <br /> 01, WITH A CATEGORICAL EXEMPTION UNDER THE CALIFORNIA <br /> ENVIRONMENTAL QUALITY ACT ("CEQA"), PERTAINING TO THE <br /> CONVERSION OF 5,849 SQUARE FEET OF AN EXISTING 38,761 <br /> SQUARE FOOT, SELF-STORAGE BUILDING INTO A MULTITENANT <br /> FOOD HALL WITH A 1,326 SQUARE FOOT INCIDENTAL OUTDOOR <br /> DINING AND SEATING AREA AT 33-35 W. HUNTINGTON DRIVE <br /> WHEREAS, CITY is authorized to enter into binding development agreements with <br /> persons having legal or equitable interests in real property for the development of such <br /> property, pursuant to Section 65864 et seq. of the Government Code; and <br /> WHEREAS, OWNER is in the process of purchasing the property at 33-35 W. <br /> Huntington Drive (the "Property"), and has requested CITY to enter into Development <br /> Agreement No. DA-19 (the "Agreement"), attached to this Ordinance as Exhibit "A", and <br /> proceedings have been taken in accordance with the rules and regulations of CITY to <br /> allow for the redevelopment of the Property with a mixed use project consisting of self- <br /> storage uses and a multitenant food hall space; and <br /> WHEREAS, by electing to enter into this Agreement, CITY shall bind future City <br /> Councils of CITY by the obligations specified herein and limit the future exercise of certain <br /> governmental and proprietary powers of CITY; and <br /> WHEREAS, the terms and conditions of this Agreement have undergone extensive <br /> review by CITY and the City Council and have been found to be fair, just and reasonable; <br /> and <br /> WHEREAS, the best interests of the citizens of the CITY and the public health, <br /> safety and welfare will be served by entering into this Agreement; and <br /> 1 <br />