Agmt18 Devcon Construction, Inc. parking license for Bradford

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ORIGINAL LICENSE AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND DEVCON CONSTRUCTION INC. THIS LICENSE AGREEMENT ("Agreement" or "License") is entered into as day of C22 2018 (the "Effective Date"), by and between THE CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California ("CITY"), and DEVCON CONSTRUCTION INC., a California Corporation company ("LICENSEE"). RECITALS A. CITY owns real property located at 707 and 777 Bradford Street, California, as more particularly described in Exhibit A attached hereto and incorporated herein by reference ("City Property"). B. CITY acquired the City Property from the Redwood City Redevelopment Agency, for the purpose of continuing the affordable housing redevelopment of the City Property. C. CITY remains committed to development of affordable housing on this site and has approved a senior affordable housing project. In the interim, CITY does not currently use the Property for any particular purpose. D. CITY recognizes that there are currently short-term parking constraints arising from the pressure of new development in the Downtown. E. LICENSEE is the general contractor for the project located at 2075 Broadway ("Project"), a 116,000 square foot Class A office development. F. The CITY has improved, including the subgrade of, the City Property for interim parking uses to meet specific demands until the City Property can be developed as anticipated. G. During construction of the 2075 Broadway Project, LICENSEE desires to use a portion of the City Property for construction worker vehicle parking of 60 spaces, as shown on the attached Exhibit B ("License Area"). H. CITY has determined that the temporary use proposed by LICENSEE provides a common benefit to the Downtown area. I. CITY is also in the process of entering into a new license to the County of San Mateo for their shared use of the License Area for 30 spaces of vehicle parking (as shown on the attached Exhibit B). J. CITY is willing to provide to LICENSEE a license to use License Area for construction worker vehicle parking purposes during construction of the 2075 Broadway Project, all on the terms set forth herein. REV: 08-08-18 PR Page 1 of 12 ATTY/AGR.2018.191/Devcon Construction Inc.