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ATTACHMENT A <br /> <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />ATTY/RESO.0022/CC RESO APPROVING CONDITIONAL FUNDING COMMITMENTS FOR RISE CITY APARTMENTS AND 1580 MAPLE STREET – ATTACHMENT A <br />REV: 05-05-26 LF <br />Page 3 of 3 <br /> <br /> <br />1199\06\4215889.1 <br />Eligible City Costs The City will hold the second portion of the loan in a separate City controlled <br />cost recovery account that the City will manage and use to pay the following <br />costs: <br />• City staff and all third-party contracts that the City needs to <br />undertake for the land use and environmental review process for <br />the Property, including CEQA and NEPA review, if needed. <br /> <br />If any funds remain at the end of the predevelopment period, these <br />remaining funds may be rolled over into the Construction/ Permanent Loan, <br />which can be used to reimburse the applicant for expenses during <br />construction. <br /> <br />On City owned sites, the City may undertake studies on the property at its <br />own expense, for example the Alta Survey and Lot Merger, Preliminary Title <br />Report and the initial Phase 1 and Phase 2 environmental studies. <br />Disbursements In an effort to limit the administrative burden on staff, the City will only <br />disburse funds once the developer has accumulated costs of at least <br />$100,000 <br /> <br />