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ATTY/ORD.0018/CC ORDINANCE ADOPTING DEVELOPMENT AGREEMENT
<br />REV: 10-28-2022 VR
<br />Page 1 of 4
<br />EXHIBIT C
<br />
<br />ORDINANCE NO.
<br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDWOOD
<br />CITY APPROVING THE DEVELOPMENT AGREEMENT BETWEEN THE
<br />CITY OF REDWOOD CITY AND JAY PAUL COMPANY
<br />WHEREAS, Jay Paul Company (the “Developer”) is the owner of certain real
<br />property located at 320, 330, 340, 350 Blomquist Street and 19 Seaport Boulevard (052-
<br />392-420, 052-392-410, 052-392-470, 052-392-460, 052-392-570, 052-392-480) and 15
<br />and 30 Stein Am Rhein Court (052-392-370 AND 052-392-280) Redwood City, CA (the
<br />“Property”); and
<br />WHEREAS, Government Code Section 65864 through 68569.5 provide the
<br />statutory authority for development agreements between municipalities and owners of
<br />real property; and
<br />WHEREAS, Developer applied for a General Plan Amendment, a Zoning Map
<br />Amendment, a Development Agreement, a Vesting Tentative Map and an Architectural
<br />Permit to allow for the construction of a development project upon the Property consisting
<br />of 1) 765,150 sq. ft. of commercial office use in three buildings; a) one 7 story, 100 feet
<br />tall (118 feet to top of mechanical screen/tower) office building, and 2) two 6 story, 86 feet
<br />tall (104 feet to top of mechanical screen tower) office buildings; b) one parking structure
<br />and a surface parking lot; 2) a 35,000 square foot, 2 story employee amenities building;
<br />and 3) 10.8 acres (40%) of the Property will be dedicated to green space and landscape
<br />space at 320, 330, 340, 350 Blomquist Street, 19 Seaport Boulevard and 15 and 30 Stein
<br />Am Rhein Court (the “Project”); and
<br />WHEREAS, the City and Developer have negotiated the terms of a Development
<br />Agreement that, among other things, includes the following terms: (1) developer shall
<br />convey to St. Francis Center ELI Housing - 64 units to be affordable to Extremely Low
<br />Income Households along with the payment of $100,000; (2) developer shall pay to City
<br />$13,000,000 for the study, design and/or construction of parks and recreational
<br />improvements within the City; (3) developer shall pay to the City $6,5000,000 to be utilized
<br />for the Blomquist Bridge improvements, subject to certain credits for East 101
<br />infrastructure; (4) the developer shall pay to the City $2,500,000 to be utilized by the City
<br />for affordable housing; (5) developer shall pay to City $150,000, to be utilized by City to
<br />fund Parks and Recreation diversity, equity and inclusion efforts; (6) developer shall pay
<br />to City or transfer to a third-party $550,000 for a First Time Homebuyer’s Loan Program;
<br />(7) developer shall contribute $200,000, to the Redwood City Education Foundation; (8) developer
<br />shall contribute $100,000 to Reading Partners; and (9) developer shall contribute
<br />$750,000 to the Sequoia Branch of YMCA for early childhood education programs, facility
<br />and enrichment support for preschool and drop in childcare, and financial assistance for
<br />afterschool and day camp programs; and
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