AgdaPkt 2018-05-07 Joint SA PFA - Laserfiche WebLink

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· Provide vested rights for the developer to develop the Project and would extend for a term of five years, with a possible two-year extension if certain criteria are met. · Provide the developer to construct and maintain, for the life of the Project, the Bay Trail and waterfront park improvements, which includes a portion of City property. The public would have full access to these improvements. · The developer would relocate the water tank and support structure to a temporary location on City property adjacent to the project site, and protect and waterproof the tank until a permanent location in the Inner Harbor area has been identified. The developer would also prepare a restoration plan and contribute $100,000 to the City for the water tank restoration work. In addition, the developer will contribute $250,000 to the City for future community gathering spaces within the Inner Harbor Area that recognize the maritime history of the Inner Harbor Area. · The developer would also construct, at its expense, the Blomquist Street extension from Maple Street to Redwood Creek. The Maple Street to Maple Street portion of the Blomquist Street extension is required for development of the site. The remaining segment from the internal Maple Street to Redwood Creek is considered a public benefit. · The developer would also underground the overhead utility lines along the future City park property and install a new 24’ water line. These improvements are also considered public benefits as they are not required for the development. · In exchange for these improvements, the developer would be given a credit for the water impact fee and a portion of the park development and the transportation impact fees. The developer’s cost to construct these improvements exceeds the impact fee credit. The Agreement for Exchange of Real Property provides for the City to transfer an 0.46 acre portion of Maple Street in exchange for the developer dedicating 0.91 acres for the Blomquist Street right-of-way. The property exchange is consistent with the General Plan as it provides for the improvement of the Blomquist Street extension, an important connectivity project in the area east of US 101 (Policy BE-29.9 and Program BE-68). The Development Agreement is included as Exhibit A to the ordinance approving the Development Agreement between the City of Redwood City and Strada (Attachment 4). The Planning Commission recommends that the City Council approve the Agreement as summarized above, and found that the Agreement, including the land exchange, is consistent with the General Plan. Planned Development Permit and Condominium Permit Pursuant to Articles III and XI of Chapter 30 of the Municipal Code (Subdivisions), the Project requires approval of a Condominium Permit. The Subdivisions Code further requires applications for Condominium Permits to also obtain a Planned Development Permit. The 7.A. - Page 12