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Page 3 of 7 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />On September 13, 2021, the City Council approved the public access easement and various agreements <br />for Parcel F, located at 1304 El Camino Real. Construction of Parcel F was completed and accepted by the <br />City Council on October 23, 2023. Therefore, the recommendations herein address the remaining five <br />parcels, Parcels A through E. <br />Table 1 shows the ownership entity for each parcel. While Kopf & Kopf LLC (“Kopf A”) and Benjamin Kopf <br />Holding Co. (“Kopf B, C, E”) own multiple parcels, IQHQ Elco Yards, L.P. (“IQHQ”), and IQHQ TRS Elco Yards, <br />Inc. (“IQHQ TRS”) have entered into a ground lease for the various parcels., whereby IQHQ and IQHQ TRS <br />assumed all obligations and liabilities related to Parcels A through E. IQHQ and IQHQ TRS are collectively <br />referred to as “Developer.” <br />Table 1: Parcel Ownership and Leaseholder Entities <br />Parcel Owner Ground Lease Holder <br />A (Residential)Kopf & Kopf LLC IQHQ TRS Elco Yards, Inc. <br />B (Commercial)Benjamin Kopf Holding Co. IQHQ Elco Yards, L.P. <br />C (Commercial)Benjamin Kopf Holding Co. IQHQ Elco Yards, L.P. <br />D (Residential)IQHQ TRS Elco Yards, Inc. n/a <br />E (Commercial)Benjamin Kopf Holding Co. IQHQ Elco Yards, L.P. <br />On April 25, 2022, the City Council approved the Final Map and various agreements with the Developer, <br />including a Subdivision Improvement Agreement (SIA), for the Elco Yards development project. The SIA <br />required the developer to complete on-site and off-site improvements, including: <br />Reconstruction of streets within the frontages of Parcels A-E, including new pavement, sidewalks, curb <br />and gutter, and stormwater treatment. <br />Installation of new public domestic water and recycled water infrastructure in Beech, Lathrop, and <br />Cedar Streets. <br />The new domestic water main in Pennsylvania Avenue, between Cedar and Chestnut Streets, <br />is within Caltrain right-of-way, owned and operated by the Peninsula Corridor Joint Powers <br />Board (JPB). An executed license agreement between the Developer and JPB was required to <br />construct this facility. <br />Relocation and upgrade of a large sanitary sewer trunk main in the newly aligned Beech Street, <br />between El Camino Real and the Caltrain right-of-way. <br />Undergrounding of all overhead utilities within the project frontages <br />Expanded bridges crossing the stormwater channel at Lathrop Street and El Camino Real. <br />Construction of a creek pathway along the stormwater channel bordering Parcel A. <br />In addition to frontage improvements, the project’s conditions of approval required off-site <br />improvements. <br />Extension of a recycled water main to serve the project with recycled water immediately upon <br />construction. <br />7.G. - Page 3 of 104 <br />101