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25 Ordinance No. 1976 ORDINANCE NO. 1976 DRAFT AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CUPERTINO MODIFYING A DEVELOPMENT AGREEMENT (I-DA-90) TO ENCOMPASS THE DEVELOPMENT PROPOSED IN U-2005-16, ASA-2005-11, Z-2005-05 AND TR-2005-04 FOR A 137 UNIT, TWO- AND THREE- STORY RESIDENTIAL CONDOMINIUM DEVELOPMENT AT 10123 N. WOLFE ROAD (V ALLCO) WHEREAS, an application was received by the City (Application No. DA-2005-01) for the modification of a development agreement (l-DA-90) to encompass the development proposed in U-2005-16, ASA-2005-ll, Z-2005-05, and TR-2005-04 for a 137 unit, two- and three-story residential condominium development; and WHEREAS, the modification is consistent with the City's General Plan land use map, proposed uses and surroundings; and WHEREAS, the City Council finds that the subject Development Agreement meets the following requirements: I, Is consistent with the objectives, policies, general land uses and programs specified in the General Plan and any applicable specific plan; 2. Is compatible with the uses authorized in, and the regulations prescribed for, the land use district in which the real property is or will be located; 3. Is in conformity with and will promote public convenience, general welfare and good land use practice; 4. Is not detrimental to the health, safety and general welfare; 5. Will not adversely affect the orderly development of property or preservation of property values; and 6. Will promote and encourage the development of the proposed project by providing a greater degree of requisite certainty, WHEREAS, upon due notice and after one public hearing the Planning Commission recommended to the City Council that the amendment be granted; and NOW, THEREFORE, BE IT ORDAINED AS FOLLOWS: Section 1. That Section 2,2 Vested Elements, ofthe development agreement described as I-DA-90, is hereby amended to add a sub-section adding the development proposed in U- 2005-16, ASA-2005-ll, Z-2005-05, and TR-2005-04, as vested elements of the development agreement. Said subsection shall read as follows: Applications U-2005-16, ASA-2005-11, Z-2005-05, and TR-2005-04 for a 137 unit, two- and three- story residential condominium development as shown on the approved exhibits for said applications. ;;..5 - ( Ordinance No. 1976 DA-2005-01 2 Section 2, This ordinance shall take effect and be in force thirty (30) days after its passage. INTRODUCED at a regular meeting of the City Council of the City of Cupertino the 31st day of January 2006 and ENACTED at a regular meeting of the City Council of the City of Cupertino the _ day of March, 2006, by the following vote: Vote Members of the City Council AYES: NOES: ABSENT: ABSTAIN: ATTEST: APPROVED: City Clerk Mayor of Cupertino 2 P-5"~ 2.-