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Page 1 of 3 <br />REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />June 22, 2015 <br /> <br />SUBJECT <br />Approval of Implementation Agreement to construct "North Plaza" in conjuction <br />development of the Crossing 900 Project <br /> <br /> <br />RECOMMENDATION <br />By motion, approve and authorize City Manager to execute an Implementation <br />Agreement with Redwood City Partners, LLC for construction of public improvements <br />("North Plaza") associated with the development of the Block 2, Crossing 900, Project, <br />consistent with the Disposition and Development Agreement, dated July 30, 2013 <br /> <br />BACKGROUND <br />In July 2013, the City entered into a Disposition and Development Agreement with <br />Redwood City Partners, LLC, for the construction of 300,000 square feet of office on the <br />City-owned parking lot on Middlefield Road. At the time of the Agreement, the City <br />determined that the physical structure of a traffic circle at the junction of Winslow Street <br />and Hamilton Street was no longer essential to the Downtown Precise Plan. Removal of <br />the Depot Circle as a major landmark in the Downtown led to the determination to work <br />with the developer to construct a new plaza that would provide new and improved public <br />space in the Downtown, enhance the connections between Sequoia Station and the <br />Downtown, support the development of new office and retail on Block 2, and provide a <br />strong visual terminus to Hamilton Street, as Depot Circle had done in the Precise Plan. <br /> <br />To effectuate this new improvement, the developer provided the City $1,000,000 to be <br />used for design and construction of this new plaza space, subsequently named “North <br />Plaza”. <br /> <br />ANALYSIS <br />As the Crossing 900 Project received its Planning and Building permits, staff worked <br />with the developer’s architects and landscape architects to refine and finalize all of the <br />off-site, or public, improvements directly tied to the construction of the project. These <br />offsite improvements were required to be consistent with the standards of the <br />Downtown Precise Plan. Additionally, the offsite improvements needed to coordinate <br />with the layout of the development. <br /> <br />7.1.I. - Page 1