Ord. 2547 - Laserfiche WebLink

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LEASE AGREEMENT BY AND BETWEEN CITY OF REDWOOD CITY AND EL CAMINO REAL HOLDINGS JV, LLC FOR TEEN CENTER USE (901 El Camino Real, Redwood City) This Lease Agreement (“Lease”) is entered into this ____ day of _______, 20__ (“Effective Date”) by and between the City of Redwood City, a California charter city and municipal corporation (“City”), and El Camino Real Holdings JV, LLC, a California limited liability company (“Owner”), collectively “Party or Parties.” RECITALS A. Owner is the owner of certain real property located at 901 El Camino Real, Redwood City, California, Assessor’s Parcel Number ________________, as more particularly depicted on Exhibit 1 attached hereto, (“Property”). B. Owner has entered into a Development Agreement with City, effective ____________, 202__ (City Ordinance No. ____ and County Recorder’s Document No. ______) (“Development Agreement”), to facilitate Owner’s development and construction of a six (6) story mixed-use commercial office and research and development/laboratory project, consisting of approximately 305,225 square feet of office, and approximately 3,900 square feet of open space area, including related parking and infrastructure, and associated land assembly including the realignment and installation of a new Franklin Street right-of-way, hereinafter referred to as the “Office Development Project.” C. As a community public benefit offered by the Owner as part of the Development Agreement and in addition to constructing the Office Development Project, Owner has agreed, at Owner’s sole cost and expense, to design, construct, and furnish an approximately 6,450 square foot teen center/multi-purpose space facility on the Property, which includes a 180 square foot back-of-house storage area for mechanical or audio equipment, equipment storage and cleaning supplies, to be leased to the City free of rent, for teens to use for study facilities, meetings, events, educational purposes, cultural celebrations and similar gatherings (hereinafter collectively referred to as “Teen Center”). D. Sections 2.3(A) and 2.3(B) of the Development Agreement, which is incorporated herein for reference, includes the key and essential terms of the Parties’ intent as to the design and construction or installation of the Teen Center, the hours for the City’s exclusive use of the Teen Center, and the respective obligations of the Parties in connection with the maintenance and use of the Teen Center. Upon execution of this Lease, it is the Parties’ intent that this Lease shall supersede and replace Section 2.3(B) of the Development Agreement, and that Section 2.3(B) shall have no further force and effect. ATTY/ORD.0002/CC ORD APPROVING DEVELOPMENT AGREEMENT (901 EL CAMINO REAL) - EXHIBIT A REV: 04-23-25 VR Page 318 of 336