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ITEM #1 CITY OF COLTON AGENDA REPORT FOR COUNCIL MEETING OF DECEMBER 18, 2007 TO: HONORABLE MAYOR AND CITY COUNCIL FROM: MARK NUAIMI, ASSISTANT CITY MANAGER SUBJECT: TIME AND PLACE FIXED TO CONSIDER AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF COLTON APPROVING THE IRON HORSE HILLS DEVELOPMENT AGREEMENT FOR PROPERTY GENERALLY LOCATED EAST OF BARTON ROAD AND SOUTH OF HILLTOP DRIVE WITHIN THE RECHE CANYON SPECIFIC PLAN AREA OF THE CITY OF COLTON (FILE INDEX NO. DAP -000-343) DATE: December 12, 2007 BACKGROUND: Colton Land Investment, LLC received Planning Commission and City Council approval of Tentative Tract Map #16798, a proposal to subdivide approximately 120 gross acres of vacant land into 186 lots for detached single family residential units, 11 open space lots, and three (3) public facility lots. On September 5, 2006, following a duly noticed public hearing, the Colton City Council adopted Ordinance No. 0-15-06, approving the Specific Plan Amendment (SPA) to the Reche Canyon Specific Plan, the certification of the EIR, and approvals of the SPA and Tract 16798 to provide for the orderly growth and quality development of the Project in accordance with the General Plan. The City of Colton has found that development agreements will strengthen the public planning process, encourage private participation in comprehensive planning by providing a greater degree of certainty in that process, reduce the economic costs of development, allow for the orderly planning of public improvements and services, allocate costs to achieve maximum utilization of public and private resources in the development process, and ensure that appropriate measures to enhance and protect the environment are achieved. Colton Land Investment, LLC has proposed a number of regional benefits to the community in exchange for certain guarantees contained within the development agreement. DISCUSSION/ANALYSIS: Pursuant to California Government Code Sections 65864 et seq., the City is authorized to enter into development agreements providing for the development of land under terms and conditions set forth therein.