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(a) 13,351 sq. ft. parcel located at the intersection of Willow Street and <br />Middlefield; (b) a proposed two story building with a main floor consisting of <br />approximately 6,433 sq. ft., a mezzanine consisting of approximately 740 sq. ft., <br />and a lobby consisting of approximately 325 sq. ft. for a total of 7,500 sq. ft.; (c) <br />twenty-five grade level parking spaces located directly under the main structure <br />which shall be enclosed for aesthetics and security reasons; and <br /> <br /> WHEREAS, the Development Agreement provides in part that the <br />Applicant has the option to pay a fee or perform certain work of improvement. <br />The payments to City consist of the sum of Fifty Eight Thousand One Hundred <br />Thirty Four and No/100 Dollars ($58,134.00)in lieu of the undergrounding of <br />utilities and the sum of One Hundred Twenty Four Thousand Nine Hundred <br />Thirty One and No/100 Dollars ($124,931.00) in lieu of the construction of certain <br />street improvements; and <br /> <br /> WHEREAS, Applicant is a qualified party to enter into a development <br />agreement under the Development Agreement Law; and <br /> <br /> WHEREAS, the development of the Project requires financial <br />commitments and expenditures by Applicant, and Applicant seeks assurances by <br />City that the development of the Project on the Property will not be jeopardized <br />by later changes in the Development Regulations; and <br /> <br /> WHEREAS, City desires that the development of the Project on the <br />Property proceed in a well-planned manner. Development of the Project on the <br />Property in accordance with the Existing Development Regulations, and the <br />Existing Approvals (as said terms are defined in the Development Agreement), <br /> <br /> <br />