AgdaPkt 2002-02-25 - Laserfiche WebLink

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the development of the Project on the Property will not be jeopardized by later changes in the Development Regulations. E. City desires that the development of the Project on the Property proceed in a well-planned manner. Development of the Project on the Property in accordance with the Existing Development Regulations, and the Existing Approvals, subject to the terms and conditions of this Agreement, will provide for orderly growth in accordance with the policies and goals set forth in the General Plan, including construction of all on site and off site improvements and a commitment to perform certain work of improvement. F. In addition, other monetary and non-monetary public benefits will be derived from the Project when fully developed. These include: ]. Installation of long-needed infrastructure improvements that will improve traffic circulation within the neighborhood; 2. Improvements in the tax base of City through the increase in property tax increment generated through the construction of the Project; 3. Additional revenues to Redwood City School District from school fees and other fees imposed in connection with the construction of the Project. G. After conducting a duly noticed public hearing, and after adoption of Findings, pursuant to Ordinance No. adopted on ,2002, the City Council of City approved this Agreement, authorized the execution of this Agreement and found that the provisions of this Agreement are consistent with the General Plan of City. H. It is the intent of the parties that Owner's obligations with respect to all Exactions shall be fixed as of the Effective Date except as specifically provided in this Agreement and that there will be no alteration in the basis or manner for computation of any Agmt-450113001 FXS:dr 02/04/02R. 02/12/02R