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REV: 07-30-21 VR <br />FIRST AMENDMENT TO REIMBURSEMENT AGREEMENT <br />BETWEEN THE CITY OF REDWOOD CITY <br />AND TISHMAN SPEYER <br />This First Amendment to Reimbursement Agreement between the City of <br />Redwood City and Tishman Speyer (“First Amendment”) is entered into as of ___ day <br />of July, 2021 (“Effective Date”) by and between the City of Redwood City, a charter city <br />and California municipal corporation (“City”) and Tishman Speyer Worldwide, LLC, a <br />Delaware limited liability company (“Developer”). The City and Developer are referred <br />to herein individually as “Party” or collectively as the “Parties.” <br />RECITALS <br />A. The Parties entered into that certain Reimbursement Agreement between <br />the City of Redwood City and Tishman Speyer dated February 10, 2021 (“Agreement”), <br />for the purpose of requiring Developer to reimburse City for resources expended during <br />the evaluation of the Developer’ proposed Project (as defined in Recital B of the <br />Agreement), including any necessary California Environmental Quality Act (“CEQA”) <br />review. <br />B. The Developer’s Project is located within the Downtown Precise Plan <br />(“DTPP”). The City will conduct a programmatic level environmental review for <br />amendments to the DTPP that will consider Developer’s Project and five other projects in <br />the DTPP (“DTPP CEQA Review”). Of the six projects, five are of similar size and one <br />is smaller; therefore, the City has determined that the costs of the DTPP CEQA Review <br />will be split such that the five similar size projects, of which Developer’s Project is one, <br />will each pay 18 percent and the one smaller project will pay 10 percent of the DTPP <br />CEQA Review costs. <br />C. On June 28, 2021, the City Council approved an Agreement for Services <br />with Environmental Science Associates (“ESA”) for an amount not to exceed Seven <br />Hundred Seventy-Five Thousand Two Hundred and Twenty-Two Dollars ($775,222) for <br />the DTPP CEQA Review (“ESA Scope”). In addition to the ESA Scope, the cost of the <br />DTPP CEQA Review will include among other things time spent by City staff, consultants <br />and special legal counsel for an anticipated total cost of One Million Twenty Thousand <br />Dollars ($1,020,000) (the “Anticipated CEQA Costs”). <br />D. The Parties desire to enter into this First Amendment to identify the <br />obligations of the Developer with respect to its percentage share of the costs associated <br />with the DTPP CEQA Review, including the Anticipated CEQA Costs and any additional <br />costs, and related indemnification. <br />ATTY/AGR.2021/Amend. No. 1/Tishman Speyer (2300 Broadway- Reimbursement Agreement Amendment) (Page 1 of 3)