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05/21/2018 SECTION 1. The recitals set forth above are true and correct and are hereby incorporated herein by this reference as if fully set forth in their entirety. SECTION 2. Pursuant to Government Code section 65867, the City Council finds that: (a) The provisions of the agreement are consistent with the general plan and any applicable specific plan: Basis for finding: The Development Agreement provides for the construction of the Bay trail, Waterfront Park and Blomquist Street extension. These projects are consistent with general plan policy BE29.9; support increasing the connectivity of all travel modes in the areas east of US 101, Program BE -68; develop plans to extend Blomquist Street to Est Bayshore Road to provide a continuous roadway east of US 101 between Woodside Road and Whipple Avenue interchanges, Policy BE -10.1; require waterfront neighborhoods provide public access along water edges, to public open spaces and trails and to vista points, as integral parts of neighborhood development and Policy BE -10.7; improve pedestrian, bicycle, transit and automobile linkages between bayfront and areas west of US 101. (b) Any tentative map prepared for the subdivision will comply with the provisions of Government Section 66473.7, regarding sufficient water supply; Basis for finding: The project is projected to result in a net increase in water demand of 22.94 acre feet per year. The City's available water capacity is 2,654 acre feet per year. The increased demand from the proposed project would account for approximately 0.86% of the available water supply for the City and is within the anticipated range for projected growth within the City and would not lead to insufficient water supplies. (c) Pursuant to the City's Property Disposition Policy, the City Council hereby finds that the disposition of City Property, as set forth in the Agreement for Exchange of Real Property attached as an exhibit to the Development Agreement, is consistent with the General Plan: Basis for finding: The property exchange provides for and effectuates the improvement of the Blomquist extension, an important connectivity project in the area east of US 101 (Policy BE -29.9 and Program BE -68). SECTION 3. The City Council hereby approves and adopts the Development Agreement that was presented to the City Council at the May 7, 2018 meeting, filed and made available at the Office of the City Clerk, and attached hereto as Exhibit A. The City Manager is hereby authorized and directed to execute the Development Agreement ATTY/ORD.467/RC ORD —ADOPTING DEVELOPMENT AGREEMENT ORDINANCE NO. 2445 REV: 04-27-18 PR MUFF NO. 601 Page 2 of 3