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WHEREILS, on May 2, 1995, a Vesting Tentative Map was <br />approved for the Property and a Final Map was subsequently <br />approved and recorded for the Property; <br /> <br /> WHEREAS, at the time of the approval of the Vesting <br />Tentative Map the Property was zoned CG and designated for <br />certain commercial uses in the Specific Plan; <br /> <br /> WHEREAS, on June 22, 1997, an Architectural Permit was <br />issued by the City for the development of a four-story 115,000 <br />square foot office building and related parking structure on the <br />Property (the ~Development"); <br /> <br /> WHEREAS, the City has scheduled for consideration at <br />the City Council meeting on December 18, 1997, an urgency <br />moratorium ordinance under Government Code Section 65858(a) to <br />establish a moratorium upon the Development in the form attached <br />hereto as Exhibit A for the reasons stated in Exhibit A (the <br />~Urgency Moratorium Ordinance"); <br /> <br /> WHEREAS, the Owners of the Property have asserted that <br />the City has no legal right to pass the Urgency Moratorium <br />Ordinance or to change the CG zoning or Specific Plan designation <br />for the Property and have threatened legal action to confirm <br />their right to proceed with the Development (the "Claims"); <br /> <br /> WHERE,, the City and the Owners recognize the costs <br />and uncertainties involved in litigation of this matter and <br />desire fully and forever to resolve their dispute; <br /> <br /> WHEREAS, this Council, after public hearing duly <br />noticed and held, desires to enter into the Settlement and <br />Release Agreement attached hereto as Exhibit B; <br /> <br /> NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br /> CITY AS FOLLOWS: <br /> <br /> 1. The City Manager is authorized to execute the <br /> Settlement and Release Agreement in the form attached hereto as <br /> Exhibit B. <br /> <br /> 2. The terms of the Settlement and Release Agreement <br /> shall include the following: <br /> <br /> a. The Owners agree to modify the Development to <br /> reduce it in size and density to two (2) two-story office/R & D <br /> ("Research and Development") buildings totaling no more than <br /> 89,000 gross buildable square feet with surface parking only (the <br /> ~Revised Development"). Attached hereto as Exhibit C are site <br /> plans and elevations of the Revised Development. <br /> <br /> F_.:\ RE~70518\ 001\ documenta\lido re~olution :3.wpd 2 13 2 6 4 <br /> <br /> <br />