Ord02 2226 - Laserfiche WebLink

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WHEREAS, the proposed project (the "Project") subject to the Development Agreement consists of: (a) 13,35'1 sq. ft. parcel located at the intersection of Willow Street and Middlefield; (b) a proposed two story building with a main floor consisting of approximately 6,433 sq. ft., a mezzanine consisting of approximately 740 sq. ft., and a lobby consisting of approximately 325 sq. ft. for a total of 7,500 sq. ft.; (c) twenty-five grade level parking spaces located directly under the main structure which shall be enclosed for aesthetics and security reasons; and WHEREAS, the Development Agreement provides in part that the Applicant has the option to pay a fee or perform certain work of improvement. The payments to City consist of the sum of Fifty Eight Thousand One Hundred Thirty Four and No/100 Dollars ($58,134.00) in lieu of the undergrounding of utilities and the sum of Sixty Two Thousand Four Hundred Sixty Five and 50/'100 Dollars ($62,465.50) in lieu of the construction of certain street improvements; and WHEREAS, Applicant is a qualified party to enter into a development agreement under the Development Agreement Law; and WHEREAS, the development of the Project requires financial commitments and expenditures by Applicant, and Applicant seeks assurances by City that the development of the Project on the Property will not be jeopardized by later changes in the Development Regulations; and WHEREAS, City desires that the development of the Project on the Property proceed in a well-planned manner. Development of the Project on the F :AttylOrdlOrd. 150 050802-FXS 2226