Irvine Municipal Code Ch. 8-8 District H Conveyance

Concurrent with the issuance of the first building permit for development exceeding the equivalent of 6,200 points as computed under the Irvine Spectrum 1 development agreement executed in August 1983, an offer of conveyance for all of the conveyance areas within District H shall be recorded. The offer will provide that it may be accepted no sooner than 90 days following issuance of building permit for 1,350,000 (i.e., 75 percent of 1,800,000) square feet of gross floor area of additional development over and above the equivalent of 6,200 points. The establishment of this measurable point in the development of the development areas of District H when the conveyance of the open space lands may be accepted shall in no way be interpreted to modify the rights of the landowner under the Irvine Spectrum 1 development agreement executed in August 1983 (including development above the maximum point total referenced in that agreement that may be authorized by note 3 of Exhibit CI to that agreement).

(Code 1976, § V.E-706; Ord. No. 92-3, 4-14-92; Ord. No. 94-7, § 3, 6-14-94; Ord. No. 99-03, § 3, 2-9-99)