Reso25-08 0106 PC Reso 1548 Maple DA 4th Amendment

Browse Search

“Developer proposes to develop the Property with up to 131 three-story for sale, market- rate townhomes at a density of approximately 17 units per acre, as well as associated open space, circulation and parking, and infrastructure (“Project”). Developer proposes to develop the Property with a 131 market-rate townhome development with open space, streets, walkways, parking areas, bay trail improvements, waterfront amenities, and other on- and off-site infrastructure (“Project”).” 3.Satisfaction of Blomquist Extension Contingencies. The Parties acknowledge and agree as follows: (a)City obtained the County Authorization and satisfactorily completed the Abatement Work prior to the County Segment Outside Date; (b)Developer has completed the Demolition Work (as defined in the Tri-Party Agreement); and (c)As of the Fourth Amendment Effective Date, Developer has obtained all Non- County Authorizations (as defined in Section 3.3.C. of the Development Agreement as amended by the Second Amendment) and agrees that it shall use best efforts to prevent the expiration of any Non-County Authorizations prior to completion of the Blomquist Extension Work. 4.Blomquist Extension Work. Subsections C. and D. of Section 3.3 of the Development Agreement (Blomquist and Maple Street Extension/ Reconfiguration and Land Exchange) are deleted in their entirety and replaced with the following (deletions shown in strike out; additions shown as double underlined): “C. Blomquist –Developer and County Segments. Subject to the terms of this Section 3.3C, Developer, at its expense, shall construct or cause the construction of the Blomquist –Developer Segment and the portions of the Blomquist Street Extension located on the County-owned parcel designated as APN 050-532-020 and on the adjacent improved, but substandard, City-owned Maple Street right-of-way located between the Blomquist – City Segment and U.S. Highway 101 (collectively, the “Blomquist – County Segment”) as depicted on Exhibit C. The Parties acknowledge that the Blomquist – Developer Segment and Blomquist – County Segment are linked in that construction of one segment, without the other, would not serve the interests of the City or its residents or the inhabitants of the Project. The Parties further acknowledge that Developer’s ability to construct or cause the construction of the portion of the Blomquist – County Segment located on the County- owned property is contingent upon (i) City delivering directly to Developer, or obtaining from the County of San Mateo, an appropriate license or right of entry authorizing Developer and its contractors and subcontractors to enter upon, the County property for purposes of performing such work (the “County Authorization”) and (ii) City notifying Developer that it has completed the Abatement Work (as defined in the Demolition Agreement attached to and as defined in the Tri-Party Implementation Agreement). City shall have until August 1, 2023, or such later date as Developer and City may agree in writing, each in its sole discretion (subject to extension for an Abatement Force Majeure Event as described below, “County Segment Outside Date”) to obtain the County ATTY/RESO.0106/PC 1548 MAPLE DA 4TH AMENDMENT - EXHIBIT B 11-13-25 VR Page 4 of 12