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subsequent project(s) by the City or other developments, such as a project to upsize to a 30 -inch <br />outside diameter pipe for the segment along Marshall Street up through the intersection of the new <br />Franklin Street and James Street, if the City has awarded a construction contract or another <br />developer has received an approved permit for the construction of all or any portion of the City <br />Upsized Recycled Water Line before the Developer has received an approved permit for the <br />construction of the Project Recycled Water pipeline or the City Upsized Recycled Water Line <br />under this Section 5.3. <br />Section 5.4 Offsets and Credits. In the event an assessment district is lawfully formed <br />or a similar mechanism is created to provide funding for services, improvements, maintenance or <br />facilities which are substantially the same as those services, improvements, maintenance or <br />facilities being funded by the Impact Fees and/or fair -share contributions identified in Section 5.3 <br />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. Pur ose. As required by California Government Code Section 65865. 1, City <br />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. L 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 information 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 />ATTY/AG R/2025.085 — 901 EL CAM I NO REAL DA <br />REV: 08-01-25 VR <br />Page 28 of 48 <br />