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WHEREAS, pursuant to the Third Amendment, the City gave its consent to the <br />assignment to RSP of Redwood Shores' rights in the Amended Development <br />Agreement; and <br /> <br /> WHEREAS, the term of the Amended Development Agreement commenced on <br />the effective date of the ordinance approving it (which was June 23, 1982) and <br />continued for a period of fifteen (15) years to June 23, 1997, and further continued by <br />the Third Amendment for a period of five years to June 23, 2002 (the "Termination <br />Date"); and <br /> <br /> WHEREAS, the City, District and RSP desire to extend the term of the Amended <br />Development Agreement to provide for the orderly completion of the Redwood Shores <br />Project; and <br /> <br /> WHEREAS, to ensure sufficient time to complete negotiations on the Amended <br />Development Agreement, the parties have agreed to extend the Agreement Term for a <br />period of sixty (60) days from the Termination Date; and <br /> <br /> WHEREAS, pursuant to Government Code sections 65864-65869.5, as the <br />same now exists or hereinafter is amended, a public hearing was held on the proposed <br />Fourth Amendment to Development Agreement.. <br /> <br /> NOW, THEREFORE, THE COUNCIL OF THE CITY OF REDWOOD CITY <br />DOES ORDAIN AS FOLLOWS: <br /> <br /> Section 1. The Council hereby finds, declares, and concludes as follows: <br /> <br /> a. The Planning Commission, after a duly noticed public hearing, has <br /> reviewed extending the term of the Amended Development Agreement <br /> and has forwarded its recommendations to this Council. <br /> <br /> R3 Page: 11 of 14 <br /> <br /> <br />