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Council finds developers in compliance in annual review of development agreements
Summary
City staff recommended and the council approved a finding that owners of active development agreements were in good-faith compliance through June 30, 2025; construction continues on several projects.
The Lake Forest City Council on Sept. 16 found that property owners subject to active development agreements were in good-faith compliance with their terms through June 30, 2025, and approved the annual review as recommended by staff.
Economic Development and Housing Manager Adrian Grijalva said state law and the development agreements require an annual compliance review. The report covered activity through fiscal year 2024–25. Staff summarized the reviewed projects and developers: USA Portola Properties (Portola Center), Serrano Summit (Lennar) and the Meadows (Toll Brothers). Grijalva said construction is ongoing at Portola Center and the Meadows project, and construction at Serrano Summit is complete pending street acceptance.
Staff recommended the council find each owner in good-faith compliance with respective DA requirements and obligations for activities ending June 30, 2025. The council approved the staff recommendation; the motion passed 3-0 with Council Member Servo and Mayor Pro Tempequeno absent.
Grijalva noted that once acceptance of streets is satisfied for the Serrano Summit project, that project will be considered complete and no further review will be required.
