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"Reading Partners Contribution" is defined in Section 3.413. <br />"Subdivision Improvement Agreement" is defined in Section 3.66. <br />"Subsequent Approvals" is defined in Section 10.1. <br />"Term" means the Initial Term plus an Extended Term. <br />"Transfer" is defined in Section 11.1. <br />"Transportation Impact Fee" means the City's Transportation Impact Fee paid <br />under Municipal Code Chapter 18, Article XV by developers of development projects to mitigate <br />the cumulative impacts of traffic generated by new development. <br />3.5A. <br />"US 101/SR 84 Interchange Fair Share Contribution" is defined in Section 6.3A. <br />"US 101/SR 84 Interchange Public Benefit Contribution" is defined in Section <br />"VTTM" is defined in Recital E. <br />"YMCA Contribution" is defined in Section 3.4C. <br />ARTICLE 2. GENERAL PROVISIONS <br />Section 2.1 Ownership of Properly., The Parties hereby acknowledge that, as of the <br />Effective Date, Developer has a legal and/or equitable interest in the Property. <br />ARTICLE 3. PUBLIC BENEFITS <br />Section 3.1 Public Benefits Obligations. In consideration of the rights and benefits <br />conferred by City to Developer under this Agreement, Developer shall perform and provide the <br />specific public benefits and Exactions described in the Existing Approvals and in this ARTICLE <br />3, some of which may exceed the dedications, conditions, and exactions that City may impose <br />under Applicable Law. <br />Section 3.2 Affordable Housing. In addition to paying the Housing Impact Fee <br />payable with respect to the Project, as set forth in Section 6.1A below, Developer shall provide <br />64 Extremely Low Income (ELI) housing units and contribute to the City's First Time <br />Homebuyer Program, all as set forth herein. <br />A. Conversion of Affordable Housing Units. Developer is the fee owner of <br />the following two parcels of real property and the 65 residential rental units thereon: (l) APN <br />059-172-100, 059-172-330 and 059-172-340, described as 36, 44, and 70 Renato Court, <br />Redwood City, California which includes 51 residential units (the "36, 44 and 70 Renato Court <br />Property"); and (2) APN 59-172-150, described as 86 Renato Court, Redwood City, California <br />which includes approximately 14 residential units (the "86 Renato Court Property"). The 36, <br />44 and 70 Renato Court Property and the 86 Renato Court Property are referred to collectively <br />ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT <br />REV: 10-28-2022 VR <br />8 <br />