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ATTY/ORD.0002/CC ORD APPROVING DEVELOPMENT AGREEMENT (901 EL CAMINO REAL) REV: 04-23-25 VR Page 3 of 6 Affordable Site to Abode Communities, a California nonprofit public benefit corporation (“Affordable Housing Partner”). The City must approve Abode Communities as a qualifying designee for the development of ninety-nine (99) deed-restricted affordable rental units, as set forth in an Affordable Land Donation Agreement. The Affordable Site is occupied and the City must approve accepting an occupied site and approve a Relocation Plan for the residential households and for the non-residential tenants to be relocated as part of the development of the Affordable Site. The Applicant's affordable housing obligation with regards to the Project will be considered fulfilled only upon completion of the land transfer of the Affordable Site to the qualifying Affordable Housing Partner or as otherwise specified in the Development Agreement; and WHEREAS, the City and the Applicant have negotiated the terms of a Development Agreement that, among other things, includes the following terms: (1) the Applicant shall convey the Affordable Site to the Affordable Housing Partner for the development of ninety-nine (99) deed-restricted affordable rental units, subject to an Affordability Covenant recorded against the Affordable Site for a period of fifty-five (55) years; (2) the Applicant agrees to partially assign and transfer its rights and obligations under the Development Agreement to the Affordable Housing Partner, as set forth in the Partial Assignment and Assumption Agreement; (3) the Applicant shall develop an approximately 6,450 square foot Teen Center/Multi-Purpose space at the Property for use by the City and City-approved third-party operators without charge, subject to a lease agreement; (4) the Applicant shall construct a new segment of Franklin Street and provide to the City a right-of-way dedication; (5) the Applicant shall create passive open space with a larger day-lighted creek and provide ongoing maintenance; (6) the Applicant shall relocate and construct an upgraded bus shelter for the SamTrans bus stop on the El Camino Real frontage of the Project; (7) the Applicant agrees to make certain public improvements including an approximately 3,900 sq. ft. public plaza on private property, new bicycle lanes along El Camino Real and James Avenue, new pedestrian lights, and plant 81 new trees in the street, plaza, and new creek area, 8) the Applicant shall use good faith efforts to require all persons and entities providing construction materials to obtain either a use tax direct payment permit, a subcontractor permit for contracts valued at Five Million Dollars ($5,000,000) or more, or otherwise designate the Property as the Sales Tax Point of Sale Designation; (9) the Applicant shall use its best efforts to employ union labor in constructing the Project; and (10) the Applicant shall use or make a good faith effort to employ or engage local vendors for contracts that exceed Twenty Five Thousand Dollars ($25,000); and WHEREAS, on April 15, 2025, at a duly noticed public hearing, the Planning Commission made the required findings for approval of the Development Agreement and recommended approval of the Development Agreement and Project approvals to the City Council; and WHEREAS, in compliance with the California Environmental Quality Act (“CEQA”) regulations, on April 28, 2025, the City Council found that, pursuant to a CEQA Guidelines Section 15183 Consistency Checklist, dated April 1, 2025 (“CEQA Consistency Checklist”), the Project is exempt from further environmental review pursuant to Public