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Contribution to the City prior to the issuance of the first certificate of occupancy (temporary or <br />final) for the first office building in the Project. <br />Section 3.3 Developer Contributions for Parks and Recreation. <br />A. Parks and Recreation Contributions. Developer shall pay to City Thirteen <br />Million Dollars ($13,000,000), plus a percentage increase based on CCI as described below, <br />which funds shall be used by City, for the study, design and/or construction of parks and <br />recreational improvements within the City ("Parks and Recreation Contribution"). Developer <br />shall make a payment equal to $6,500,000 (one-half (1/2) of the Parks and Recreation <br />Contribution), plus the product of $6,500,000 times the percentage increase in CCI between the <br />Effective Date and the date on which such payment is made, to City prior to the issuance of the <br />first certificate of occupancy (temporary or final) for the first office building in the Project and <br />shall make a payment equal to $6,500,000 (one-half (1/2) of the Parks and Recreation <br />Contribution), plus the product of $6,500,000 times the percentage increase in CCI between the <br />Effective Date and the date on which such payment is made, to City prior to the issuance of the <br />first certificate of occupancy (temporary or final) for the second office building of the Project. <br />B. DEI Contribution. Developer shall pay to City One Hundred Fifty <br />Thousand Dollars ($150,000), plus the product of $150,000 times the percentage increase in CPI <br />between the Effective Date and the date on which such payment is made, which funds shall be <br />utilized by City to fund Parks and Recreation diversity, equity and inclusion efforts ("P&R DEI <br />Contribution"). Developer shall make the P&R DEI Contribution prior to the issuance of the <br />first office building permit for the Project. <br />Section 3.4 Contributions for Education. <br />A. Education Foundation Contribution. Developer shall contribute Two <br />Hundred Thousand Dollars ($200,000), plus the product of $200,000 times the percentage <br />increase in CPI between the Effective Date and the date on which such payment is made, to the <br />Redwood City Education Foundation ("Education Foundation Contribution"). Developer <br />shall provide evidence acceptable to City that the Education Foundation Contribution has been <br />made prior to the issuance of the first office building permit for the Project. Such evidence may <br />consist of a cancelled check and a letter from the Redwood City Education Foundation <br />acknowledging payment has been made, or other evidence reasonably acceptable to City. <br />B. Reading Partners Contribution. Developer shall contribute One Hundred <br />Thousand Dollars ($100,000), plus the product of $100,000 times the percentage increase in CPI <br />between the Effective Date and the date on which such payment is made, to Reading Partners, or <br />if Reading Partners is no longer providing services to schools in Redwood City to another non- <br />profit organization promoting literacy efforts in Redwood City determined in City's discretion, <br />to support reading education in Redwood City ("Reading Partners Contribution"). Developer <br />shall provide evidence acceptable to City that the Reading Partners Contribution has been made <br />prior to the issuance of the first office building permit for the Project. Such evidence may <br />consist of a cancelled check and a letter from the recipient acknowledging payment has been <br />made, or other evidence reasonably acceptable to City. <br />ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT <br />REV: 10-28-2022 VR <br />10 <br />