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<br />Flatirons Facilities (including in particular the extension of Shoreline Drive from its <br /> <br />present terminus to Redwood Shores Parkway) and a commitment to contribute to <br /> <br />measures necessary to meet local and regional traffic needs. <br /> <br />H. <br /> <br />In addition, numerous other monetary and non-monetary public <br /> <br />benefits will be derived from the Project when fully developed. These include: <br /> <br />1. <br /> <br />Payment of a substantial portion of the Facilities Fees by <br /> <br />Flatirons by dates certain regardless of the rate of development of <br /> <br />the Project; <br /> <br />2. <br /> <br />Participation by Flatirons in the proposed traffic facilities <br /> <br />assessment district limited to assessments on commercial <br /> <br />traffic impacts to be mitigated may be caused by further <br /> <br /> <br />properties at Redwood Shores even though a portion of the <br /> <br />residential development at Redwood Shores; <br /> <br />3. <br /> <br />A payment to the City of $400,000 at the beginning of . <br /> <br />construction of the Project (as provided in Section 15), which <br /> <br />shall be expended for a permanent fire station in Redwood <br /> <br />Shores, and either for a community center in Redwood Shores <br /> <br />or for any other general community purpose in Redwood <br /> <br />Shores; <br /> <br />4. <br /> <br />Enhancement of the position of Redwood City and Redwood <br /> <br />Shores as the "software capital" of the Bay Area; <br /> <br />5. <br /> <br />Creation of primary and secondary employment opportunities <br /> <br />in the form of approximately 3,000 "white collar" jobs, a <br /> <br />-3- <br /> <br />DV AGR0'3.rxJC <br />August 26, 1996 <br />