Agmt15 Paul Holdings Inc. dba Jay Paul Co

Browse Search

ORIGINAL REIMBURSEMENT AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND JAY PAUL COMPANY FOR NEGOTIATION OF DEVELOPMENT AGREEMENT THIS REIMBURSE NT AG MENT ("Agreement") is dated for informational purposes only as of the ��day of 201 S by and between the CITY OF REDWOOD CTTY, a charter city and Californi municipal corporation ("City"), and Paul Holdings Inc. dba Jay Paul Company, a Califo a Corporation, ("Developer"), as agent on behalf of Seaport Campus LLC, a California limi liability company, property owner of 320, 330 and 340 Blomquist and Harbor View Prop LLC, a Delaware limited liability company, property owner of 30 Stein Am Reihn Court, ( ferred to herein individually as "Party," or collectively,the"Parties"). RECITALS A. By Resolution No. 14609, adopted in September 2004, City established a Cost Recovery Policy for major planning applications that requires an applicant for planning approvals to pay the costs of processing the application. Reimbursement includes among other things the cost for City staff, consultants, including environmental consultants, and special legal counsel. The Developer has filed an application with the City for development of the Project (defined below) and agrees to enter into this Agreement requiring Developer to reimburse City for City resources expended during its evaluation of Developer's proposed development of the Project. B. Developer owns real property in the Inner Harbor Specific Plan area located at 320, 330 and 340 Blomquist Street and 30 Stein Am Court (APNs 052-392-420, 052-392-410, 052-392-470,052-392-460 and 052-392-570),as depicted in the attached Exhibit A("Property"). C. In conjunction with the development application, Developer is requesting that City negotiate with Developer on a potential development agreement to develop the Property with an office campus on the 27 acre property consisting of approximately four nine-story office buildings with 1,354,792 square feet of floor area, associated parking structures and landscape improvements("Project"). D. The Parties are presently evaluating the potential environmental impacts associated with the proposed Project, and, , will commence negotiations on (1) a non-binding term sheet to detail the material points of a potential development for the Project, and (2) a development agreement between City and Developer that will provide, among other things, public contributions that are to be made by the Developer, and on and off-site improvements associated with the development of the Project including improvements idenrified through the Environmental Impact process to mitigate potential impacts development and operation of the proposed Project. REV:05-13-15 VR Page i of 10 ATTY/AGR.2015.094/JAY PAUL COMPANY/HARBOR VIEW PROPERTY LLC _ __._