The meeting ultimately ended just before 2 a.m., with dozens of observers still in attendance.
After the meeting, developer Emile Haddad said he was “excited and relieved.”
“And now I just want to get some sleep,” he added.
Wednesday morning’s vote came after heated opinions from residents, who disagree on whether this is a smart move or whether the city should negotiate for a better deal.
Under the plan, private developer FivePoint Communities would pay for and build more than half of the park, at an estimated value of $172 million.
About $40 million of that amount would be paid through a special property tax, known as Mello-Roos, on the homeowners.
The construction would include a massive sports park, an 18-hole golf course and a canyon – though not the much more expansive canyon envisioned in the master plan — and a wildlife corridor, among other features.
In exchange, the city will allow FivePoint to build an extra 4,606 homes on land now zoned as commercial and industrial.
Those extra houses are expected to give a big boost to FivePoint’s profits. Some residents claim it’s worth more than $1 billion for the developer.
With city funds for the park pretty much drained, this would likely forge a path toward getting more than half of it built within the next few years.
That could mean youth would have much earlier access to its projected 17 soccer fields and 25 tennis courts, among other amenities.
Some argue that FivePoint’s proposal doesn’t match the quality and scale of the park’s master plan.
Additionally, some residents argue that the city should have kept negotiating toward a better deal.
More details to come.