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Precise Plan Amendments, a Vesting Tentative Parcel Map, a Planned Community Permit, <br />and Use Permit, all subject to Conditions of Approval, Land Donation, Land Donation Agreement, <br />Affordable Housing Plan and Relocation Plan. Prior to issuing the permit approvals, the City <br />Council also approved a California Environmental Quality Act (“CEQA”) Guidelines Section <br />15183 Consistency Checklist which determined the action was exempt from further CEQA review <br />by adopting City Resolution No. ___________ (“CEQA Consistency Checklist”). This <br />redevelopment and land assembly, including all project approvals, is hereinafter collectively <br />referred to as the “901 El Camino Real Project.” <br /> <br />D. Assignor’s affiliate, KM-ECR, LLC, a California limited liability company, has a <br />legal and/or equitable interest in 920 Shasta Street (Assessor’s Parcel Number 053-343-110) and <br />122 Buckeye Street (Assessor’s Parcel Number 053-343-080), with a combined area of 0.82-acres <br />or 35,702 square feet, as depicted and more particularly described in Exhibit G-1 (“Affordable <br />Site”). In order to satisfy the requirements of Article 29 (Requirements for Affordable Housing) <br />of the Redwood City Zoning Code for the 901 El Camino Real Project and pursuant to the terms <br />of the Development Agreement, the Assignor agreed to donate and transfer the fee title of the <br />Affordable Site to Assignee for the development of ninety-nine (99) affordable residential <br />dwelling units and one (1) manager’s unit at the Affordable Site, at the affordability levels <br />specified in the Affordable Housing Plan (hereinafter collectively referred to as the “Affordable <br />Housing Project”). The Assignor, Assignor’s affiliate, Assignee, and the City also entered into an <br />Affordable Housing Land Donation Agreement (“Land Donation Agreement”), in which <br />Assignor’s affiliate agreed to donate the Affordable Site to Assignee under the terms and <br />conditions of the Land Donation Agreement, including a condition of a recorded affordability <br />covenant restricting the use of the Affordable Housing Site for the use of ninety-nine (99) <br />affordable units for a term of not less than fifty-five (55) years (“Affordability Covenant”). <br />Pursuant to Section 2.2(C) of the Development Agreement, Assignor agreed to execute and record <br />this Partial Assignment at the same time that the Affordable Site was transferred to Assignee. <br /> <br />E. Prior to or concurrently with entering into the Development Agreement, as <br />indicated by City Resolution Nos. ________, and as part of the development of the Affordable <br />Site, the City approved an Affordable Housing Plan, Relocation Plan, an Architectural Permit, <br />Vesting Tentative Parcel Map, Density Bonus with associated Concessions and Waivers, Land <br />Donation, and Land Donation Agreement, all subject to Conditions of Approval, hereinafter <br />collectively referred to as the “Affordable Housing Project Approvals”). Prior to approving the <br />Affordable Housing Project Approvals, the City Council also approved the CEQA Consistency <br />Checklist, which determined the action was exempt from further CEQA review, by adopting City <br />Resolution No. ___________ . <br /> <br /> F. Notwithstanding Assignor’s separate rights and obligations to construct and <br />develop the 901 El Camino Real Project under the terms of the Development Agreement, as <br />contemplated in the Development Agreement, Assignor desires to partially assign its vested rights <br />and obligations in the Development Agreement as those rights and obligations relate to the <br />development of the Affordable Site and Affordable Housing Project to Assignee, and Assignee <br />desires to accept and assume such rights and obligations. The purpose of this Partial Assignment <br />is to memorialize said partial assignment and assumption of the rights and obligations with respect <br />to the Affordable Housing Project under the Development Agreement, to evidence the transference <br />ATTY/ORD.0002/CC ORD APPROVING DEVELOPMENT AGREEMENT (901 EL CAMINO REAL) - EXHIBIT A <br />REV: 04-23-25 VR <br /> <br />Page 309 of 336