Agmt04 BHV Innisfree - On Broadway RWC Parking Facilities Agmt

Browse Search

I. Parking Operations during Non-Peak Periods; Restriction on Long-Duration Parking. Subject to Sections I-F and I-G above, the City may operate the Jefferson Garage at its sole discretion for periods other than Jefferson Garage Peak Periods, provided that the City shall not permit parking for periods of greater than four (4) hours ("Long-Duration Parking") anywhere within the Jefferson Garage without the prior written consent of Developer and Century. J. Designated Short Term Parking. Fifteen (15) short-term parking spaces for parking for periods of twenty (20) minutes or less shall be established near the southwest elevator of the first level of the Jefferson Garage and marked accordingly including being marked as "Customer Loading" or similar. II. BLOCK TWO PARKING LOT In addition to the Jefferson Garage, the Parties intend for public parking for Downtown visitors, including Cinema and Project patrons, to be available in the parking lot southwest of the Project Site that is designated as "Middlefield Rd Parking Lot T" on the City of Redwood City California map of Central Business District Parking Meter Locations dated as of January 23, 2003 (the "Redwood City Parking Map"). The City agrees to use its best efforts, subject to all applicable requirements oflaw, to acquire certain parcels ofland in the vicinity of Middlefie1d Road Parking Lot T (the "Block Two Acquisition Parcels") that are adjacent to parcels ofland that are already owned by the City in order to expand the Middlefield Road Parking Lot T and increase its parking capacity. The existing Middlefield Road Parking Lot T plus any additional property that may be acquired by City are referred to herein as "Block Two Parking Lot". Nothing in this Agreement shall be construed as a commitment by City that it will acquire any Block Two Acquisition Parcel. A. Capacity. If City is able to acquire either or both of the Block Two Acquisition Parcels, the City will construct the Block Two Parking Lot and stripe or re-stripe it to create a total of approximately three hundred (300) public parking spaces, which number shall be subject to adjustment upwards or downwards by ten percent (10%) based upon the reasonable determination by the City of the number of parking spaces that can be accommodated thereon. Following any such adjustment, the minimum number of parking spaces provided by the City in the Block Two Parking Lot pursuant to this Section II-A is referred to herein as the "Regular Block Two Parking Spaces"). If the City is unable to acquire the Block Two Acquisition Parcels, the City will restripe the Block 2 parking lot to provide as many spaces as possible. B. Minimum Hours of Operation. The Block Two Parking Lot shall be open to the public seven (7) days a week every week of the year (including holidays) from no later than one (1) hour before the opening of the Atty/Agr/Agr.194 062404 4