RecDoc2023-000975 Harbor View Property LLC.

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E. Prior to or concurrent with the approval of this Agreement, City has taken numerous actions in connection with the development of the Project on the Property. These include: above; (1) City Council certification of the FEIR, as further described in Recital D (2) City Council adoption of the MMRP; (3) City Council adoption of a General Plan amendment by City Resolution No. 16098 on November 14, 2022; (4) City Council adoption of a rezoning of the Property by City Ordinance No. 2516 on November 28, 2022; (5) City Council approval of a Vesting Tentative Tract Map by City Resolution No. 16099 on November 14, 2022 ("VTTM"); and (6) City Council approval of an Architectural Review Permit by City Resolution No. 16099 on November 14, 2022. The approvals and development policies described in this Recital E are collectively referred to herein as the "Existing Approvals." F. City has determined that by entering into this Agreement, City will further the purposes set forth in the Development Agreement Law by, among other things, ensuring (i) substantial community benefits from the Project's financial contributions to parks and recreation and education, and transportation improvements and contributions; (ii) increased affordable housing options for extremely low income residents; and (iii) payment of contributions for the purpose of developing affordable housing, recreational amenities, and bicycle, pedestrian and road circulation improvements. G. For the reasons recited herein, City and Developer have determined that the Project is a development for which this Agreement is appropriate. This Agreement will eliminate uncertainty regarding Existing Approvals and Subsequent Approvals (as defined herein), thereby encouraging planning for, investment in, and commitment to use and development of the Property. Continued use and development of the Property will in turn provide substantial employment, tax, and other public benefits to City. H. The terms and conditions of this Agreement have undergone review by City staff, the Planning Commission, and the City Council at publicly noticed meetings and have been found to be fair, just, and reasonable and in conformance with the Development Agreement Law and the goals, policies, standards, and land use designations specified in City's General Plan and, further, the City Council finds that the economic interests of City's citizens and the public health, safety, and welfare will be best served by entering into this Agreement. I. On November 1, 2022, the Planning Commission, the initial hearing body for purposes of development agreement review, considered this Agreement and made a ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT REV: 10-28-2022 VR 2