PORTER RANCH : Accord Reached on Expansion Plans
The developer of Porter Ranch is complying with a complicated agreement that allows it to build the massive project north of Chatsworth without interference from Los Angeles officials, according to a city report.
Tuesday’s report to the city Planning Commission says that the Porter Ranch Development Co., which plans to build 3,395 dwellings and 6 million square feet of commercial buildings on 1,230 acres, has contributed $2.55 million toward road improvements outside the project area.
The improvements, including construction of a bridge over Aliso Canyon, are required by the development agreement reached last year between the city and the developer.
Under the terms of the agreement, Porter Ranch Development will contribute more to public improvements than it is required to. In exchange, the city will exempt the project for 20 years from future building restrictions or moratoriums.
Since the agreement was hammered out during marathon meetings, Porter Ranch Development has begun subdividing two residential portions of the project and has applications pending for several more tracts.
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