RecD96 1996-138988 - Laserfiche WebLink

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Development Agreement, with approval of City's City Council, has determined the need for the Facilities, their cost of construction, and the proportionate share of the cost to be borne by the developers of real property in District. D. Flatirons desires to develop the Project on the Property. E. Electronic Arts Redwood, Inc., is the duly authorized agent of, and attorney in fact for, Flatirons, and as such is authorized to act on behalf of Flatirons with respect to any Approvals obtained pursuant to this Agreement, and to bind Flatirons in all respects thereto. A power of attorney to this effect substantially in the form of Exhibit B shall be recorded in the Official Records of San Mateo County contemporaneously with this Agreement. F. The Property is located within the boundaries of District, and City acknowledges that development of the Project requires substantial financial commitments and expenditures by Flatirons, and Flatirons seeks assurances by City that development of the Project on the Property will not be jeopardized by later changes in the Development Regulations. Flatirons also seeks other assurances from City concerning the availability of the Facilities and other public resources. G. City desires that the development of the Project on the Property and construction of the Facilities proceed in a well-planned manner. Development of the Project on the Property in accordance with the Existing Development Regulations, and the Existing Approvals, subject to the terms and conditions of this Agreement, will provide for orderly growth in accordance with the policies and goals set forth in the General Plan, including ~onstruction of pedestrian and bicycle pathways connecting to other parts of Redwood Shores, the installation of the -2- DV AGR0'3.rxJC August 26, 1996