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<br /> <br />RED\VOOIJ <br /><i !()RE:-, <br />PRUPER rE:S <br /> <br />Exhibit llAll <br /> <br />~ c.....iq 1)I'i;'nlll ~;!'. <br /> <br />SUIl~ :uu <br />>~cll\.\ou\.l Ct> <br /> <br />~. ~i;; (( '. j"j1:.l ,\~I ),):: - . <br />:-,..;j',..:l:.hJi:.,: ..l:: .-":4---2 <br />;".\.\ ..1:'': ':'q~~2-:~ <br /> <br />May 31, 1990 <br /> <br />Mr. Jim Smith <br />City Manager <br />City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94064 <br /> <br />Re: Redwood Shores Prooerties Grant of Funds <br /> <br />Dear Jim: <br /> <br />This letter will memorialize our agreement regarding certain funds to <br />be provided to the City of Redwood City (the "Citi') by Redwood Shores <br />Properties ("RSP"). <br /> <br />In consideration of the mutual covenants and conditions set forth <br />below, we agree as follows: <br /> <br />1. Grant of Funds. In order to assist the City in retaining <br />additional personnel and computer equipment to facilitate the timely <br />processing of environmental reviews, subdivision maps, development plans, <br />design reviews, plan checks and other land use permits and approvals <br />(collectively, "Entitlements") for proposed projects within Redwood Shores, <br />RSP agrees to advance to the City as a grant, a total of one hundred twenty- <br />four thousand dollars ($124,000) (the "Funds"). The Funds shall be used by <br />the City during the fiscal year commencing July 1, 1990 and ending June 30, <br />1991, to process such Entitlements in an expeditious manner. <br /> <br />2. Aporoval by City Council. The City Council, on May 7, 1990, <br />unanimously approved a resolution authorizing recruitment of a plan checker, <br />a permits technician and a senior civil engineer, with the understanding <br />that the Funds woul d be provi ded by RSP and used toward the costs of <br />employing such additional personnel. <br /> <br />3. Schedule of Payments. RSP agrees to make the following payments <br />to the City: <br /> <br />$ 31 ,000 <br />$ 31,000 <br />$ 31,000 <br />$ 31. 000 <br />$ 124,000 <br /> <br />4. Allocation of Funds. The Funds shall be committed by the City to <br />the City Community Development Department, which shall use its best efforts <br />to use the Funds in the following respects: <br /> <br />July 1, 1990 <br />September 1, 1990 <br />November 1, 1990 <br />January 1, 1991 <br /> <br />11320 <br />