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and restriction can be imposed. This will eliminate impacts that might occur if multiple owners developed the Project site in a piecemeal, disjoimed manner. (9) The Project will help to mitigate traffic problems in the area through a number of exactions and requirements, including the following: (1) the Project will participate in a proposed traffic assessment district; which will require commercial (but not residential) properties to contribute funds for traffic improvements; and (2) the Project will provide the right-of-way for tl~ Shoreline Drive exterrqion, and will advance the funding for the roadway improvemems for the extension, which will provide relief for circulation and traffic impacts beyond those needed to offset the impacts of the Project. In addition, a single-user "high tech" company is likely to generate significantly less peak hour traffic than would traditional occupants of office developments. (10) Pursuant to the Development Agreement for the Project, the Project applicant has agreed to pay the City $400,000 to use for purposes benefiting the Redwood Shores community. Half of this fund ($200,000) shall be expended for a permanent fire station in Redwood Shores, while the remaining $200,000 shall be used to fund a community center or for any other community purpose that the City determines to be appropriate. (11) The Project will make significant contributions to the City's tax base through (a) the increase in property tax increment generated through the construction of the project; (b) the increase in sales tax in the immediate area through the creation of demand for local retail services caused by the increase in local employment; and (c) the increase in local hotel tax generated when Project visitors stay at adjacent hotels. 6.0 FINDING THAT THE PROJECT EIR REFLECTS THE CITY'S INDEPENDENT JUDGMENT The City hereby finds that the Project EIR reflects the City's independent judgment. The facts in support of this finding are as follows: (1) The Project EIR was provided to members of the Planning Commission on ,1996 and to the City Council on ,1996. The Planning Commission and the City Council reviewed the Project EIR prior to determining whether to approve the Project. (2) The Addendum was prepared by the City, and includes information provided by the Project applicant. The Project Traffic Study and the Airport Study, incorporated by reference into the Addendum, were -42- £AFND~C¢.DOC 7/11/96 9:56 AM