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hereof to be paid by Developer under the Project Approvals or this Agreement, then such Impact <br />Fees and/or fair -share contributions payable by Developer shall be subject to reduction/credit in <br />an amount equal to Developer's new or increased assessment under the assessment district or <br />similar mechanism. Alternatively, the new assessment district or similar mechanism shall <br />reduce/credit Developer's new assessment in an amount equal to such Impact Fees to be paid by <br />Developer under the Project Approvals or this Agreement. In calculating any reduction or credit, <br />the Parties shall take into account the timing of payment of the Impact Fee and the new or increased <br />assessment. <br />Section 5.5 City of Redwood City Business license. Developer, at its expense, shall <br />obtain and maintain a City of Redwood City business license at all times during the Term, and <br />shall include a provision in all general contractor agreements for the Project requiring each such <br />general contractor to obtain and maintain a City of Redwood City business license during <br />performance of the work of construction. <br />ARTICLE 6. ANNUAL REVIEW <br />Section 6.1 Periodic Review. <br />A. Purpose. As required by California Government Code section 65865.1, <br />City and Developer shall review this Agreement and all actions taken pursuant to the terms of this <br />Agreement with respect to the development of the Project every 12 months following the Effective <br />Date to determine good faith compliance with this Agreement. Each annual review shall also <br />document the status of the Project development. <br />B. Conduct of Annual Review. The annual review shall be conducted as <br />provided in this Section 6.1. Each year, or by November 25 of each year, Developer shall provide <br />documentation of its good faith compliance with this Agreement during the year by submitting a <br />completed Annual Review Form in the form provided in Exhibit D ("Annual Review Form") and <br />such other infonnation as may reasonably be requested by the City Manager. <br />1. If the City Manager or designee finds good faith compliance by <br />Developer with the terms of this Agreement, Developer shall be notified in writing within thirty <br />(30) days and the review for that period shall be concluded. <br />2. If the City Manager is not satisfied that Developer is performing in <br />accordance with the terms and conditions of this Agreement, the City Manager shall prepare a <br />written staff report for the Council's consideration to specify why Developer may not be in good <br />faith compliance with this Agreement, refer the matter to the City Council, and notify Developer <br />in writing at least 15 business days in advance of the time at which the matter will be considered <br />by the City Council. This notice shall include the time and place of the City Council's meeting to <br />evaluate good faith compliance with this Agreement, a copy of the City Manager's report and <br />recommendations, if any, and any other information reasonably necessary to inform Developer of <br />the nature of the proceeding. <br />25 <br />ATTY/AGR/2024.193 - GATEKEEPER DA -1900 BROADWAY <br />REV: 10-22-24 VR <br />