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6.C. - Page 65 of 71 <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED RETURN TO: <br />The City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />Attn: City Manager <br />[Fee Exempt -Gov't Code § 273831 <br />(Space above for Recorder's Use) <br />SHARED PARKING COVENANT <br />THIS SHARED PARKING COVENANT ("Parking Covenant") is made and entered into <br />as of , 2018 ("Effective Date") by and between the CITY OF REDWOOD CITY, <br />a charter city and California municipal corporation ("City") and 855 Main Street RWC, LLC, a <br />Delaware Limited Liability Company ("Developer"). <br />RECITALS <br />A. Developer is the current fee owner of that certain real property consisting of <br />approximately 0.64 acres located within the City of Redwood City, County of San Mateo, State of <br />California, described in Exhibit A, attached hereto and incorporated herein by reference (the <br />"Property"). <br />B. The City also has adopted a Downtown Precise Plan (the "Downtown Precise <br />Plan"), which has certain parking requirements for development within downtown Redwood City. <br />C. On June 11th, 2018, the City Council of the City of Redwood City adopted, among <br />other approvals, Resolution No. 15676, approving development of 851 Main Street ("Project"), <br />subject to certain conditions of approval ("Conditions"). <br />D. The Project is designed for a reduced amount of parking so long as the parking is <br />"Shared Parking" made available to the public as well as the Project. The Project is designed for 246 <br />total parking spaces with an "Assisted Parking Program" where valet attendants shall either direct <br />drivers to spaces to self -park or park drivers' vehicles as a full valet service depending on the parking <br />spaces that are available. The Conditions require, among other things, that a shared parking covenant <br />be prepared, executed, and recorded prior to Parcel Map approval. <br />E. While not required, it is anticipated that the Assisted Parking Program will have <br />guidelines similar to the following to assure that all parking spaces upon the Property are utilized: <br />Drivers would be guided to self -park on garage level B2 (144 vehicles) and then to level B 1 (102 <br />vehicles) after the lower level was full. Attendants would take the keys for all vehicles tandem parked <br />behind other vehicles to assure that vehicles are not rendered inaccessible. The valet service will <br />have a mobile parking stand. <br />F. The City and Developer desire that this Shared Parking Covenant shall be the <br />instrument to set forth with specificity the parking obligations applicable to the Project under the <br />Downtown Precise Plan. <br />ATTY/AGR/2018.275/855 MAIN STREET RWC, LLC—SHARED PARKING COVENANT <br />REV: 12-11-18 PR <br />Page 1 of 7 <br />136 <br />