Reso PC22-09 0083 PC Reso Recommending General Plan Amendment Approval Harbor View Project

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ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT REV: 10-28-2022 VR 1 DEVELOPMENT AGREEMENT This DEVELOPMENT AGREEMENT (“Agreement”) dated for reference purposes as of ____________, 2022 (“Agreement Date”), is entered into by and between HARBOR VIEW PROPERTY LLC, a Delaware limited liability company (“Developer”) and the CITY OF REDWOOD CITY, a California charter city and municipal corporation (“City”). Developer and City are sometimes referred to individually herein as a “Party” and collectively as “Parties.” R E C I T A L S This Agreement is entered into on the basis of the following facts, understandings and intentions of the Parties. The following recitals are a substantive part of this Agreement; capitalized terms used herein and not otherwise defined are defined in Section 1.1 of this Agreement. A. In order to strengthen the public planning process, encourage private participation in comprehensive planning and reduce the economic costs and risks of development, the Legislature of the State of California enacted Government Code Section 65864 et seq. (“Development Agreement Law”) which authorizes a city and a developer having a legal or equitable interest in real property to enter into a binding, long-term development agreement establishing certain development rights and obligations pertaining to the property. B. Developer currently has a legal and/or equitable interest in the approximately 27.08 acres of real property located at 320-350 Blomquist Street, Redwood City, California (APNs 052- 392-280; 052-392-370; 052-392-410; 052-392-420; 052-392-460; 052-392-470; 052-392-480; and 052-392-570), depicted on Exhibit A and more particularly described in Exhibit B (“Property”). The Property is comprised of eight parcels totaling approximately 27.08 acres that previously included the former Malibu Raceway and Golf Course, building and garden supply and industrial uses, and a gasoline service station. The Property is currently vacant with the exception of a construction company located at 330 Blomquist Street. C. Developer proposes to develop the Property with: 1) 765,150 sq. ft. of commercial office use in three buildings; a) one 7 story, 100 feet tall (118 feet to top of mechanical screen/tower) office building, and 2) two 6 story, 86 feet tall (104 feet to top of mechanical screen tower) office buildings; b) one parking structure and a surface parking lot; 2) a 35,000 square foot, 2 story employee amenities building; and 3) 10.8 acres (40% of the Property) will be dedicated to green space and landscape space (“Project”). D. The Project is the subject of a Final Environmental Impact Report (“FEIR”) and a Mitigation Monitoring and Reporting Program (“MMRP”) under the California Environmental Quality Act (“CEQA”) (set forth in Public Resources Code Section 21000 et seq.) which was considered by the City of Redwood City Planning Commission at a regular meeting held on November 1, 2022, and has been certified by the City Council by Resolution No. ___________ on ___________, 2022.