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<br />a) As set forth in "Exhibit I", attached hereto and <br /> <br />incorporated by reference, the increasing urbanization of the <br /> <br /> <br />properties adjacent to Applicant's land has resulted in conditions <br /> <br /> <br />which have made the operation of a flower nursery no longer <br /> <br /> <br />economically viable on the subject property due to increased <br /> <br />production costs and the impact of increased foreign imports of <br /> <br />cut flowers. Although the economic character of an existing <br /> <br />agricultural use is, in and of itself, not sufficient reason for <br /> <br />cancellation of an agreement under Law, the conditions itemized by <br />Applicants in Exhibit I are not unique to the nursey business <br />alone. Complete residential development bordering all sides of <br />the subject property is a condition that would exist for any other <br />agricultural use. Accordingly, the uneconomic character of the <br />existing use should be considered since there is no other <br /> <br /> <br />reasonable or comparable agricultural use to which the land may be <br /> <br /> <br />put without encountering the same urbanization problems and <br /> <br />conflicts. <br /> <br />b) The potential conversion of the subject <br /> <br /> <br />property to a high-quality single-family residential neighborhood <br /> <br />will help to meet the existing and future housing needs of Redwood <br /> <br /> <br />City as statistically documented by the Association of Bay Area <br /> <br /> <br />Governments and the Redwood City-San Mateo Chamber of Commerce. <br /> <br />Said statistics are attached hereto as "Exhibits J and K" <br /> <br /> <br />respectively and incorporated by reference. <br /> <br /> <br />c) The subject property is bordered on all sides <br /> <br />by residential and commercial establishments currently being <br /> <br />5. <br />