RecD08 2008-086768 (2) - Laserfiche WebLink

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. . of the City contained in this Agreement concerns the Project as identified in Recital 4 of this Agreement. In the event that the Developer or a successor in interest submits an application to the City to modify the Precise Plan or any other City Law to permit Developer to proceed with an alternate project, the City may disapprove such application, or may condition its approval on modifications to one or more provisions of this Agreement, the Precise Plan or other City Laws. (b) Certain Matters Covered bv Precise Plan. The (1) permitted uses of the Property, (2) density, intensity, rate and timing of development; (3) design, improvement, and construction standards and specifications, with respect to height and size of proposed buildings and other matters; and (4) provisions for reservation or dedication of land for public purposes for the Project, shall be those identified in the Precise Plan. (c) Dedication Requirements. Exactions and Fees. During the Tenn, the City dedication requirements, exactions and fees (each a tlMeasuretl), including without limitation processing and inspection fees, development impact fees and measures to mitigate environmental impacts mentioned in the EIR and EIR Addendum, applicable to the Project shall be those in effect as of the Effective Date~ modified only by Measures which either are specifically identified in the Precise Plan or which apply, on a basis which does not discriminate against the Property or the Project, to at least three (3) other sites within the City, and either: (i) whose effect is to apply to the Project an adjustment of the amount or magnitude of a fee or other exaction existing on the Effective Date; or (ii) which mitigate an impact of the Project that either was not identified in the EIR or the Precise Plan, or was identified but for which no mitigation measure was described or adopted; and further provided that credit is available to the Developer, when appropriate~ for public improvements completed or to be completed by the Developer at the Developer's expense (e.g., if Developer constructs or installs public improvements that serve a wider geographic area than the Property itself). (d) Timing of Development. Developer shall have the right to develop the Project at such time or times prior to the expiration of the Term as Developer deems appropriate within the exercise of its good faith business judgment, provided that the Project is developed substantially in compliance with any timing provisions of the Precise Plan and the provisions of this Agreement. Since the California Supreme Court held that the failure of the parties in Pardee Construction Co. v. City of Camarillo, 37 Ca1.3d 465 (1984), to provide for the timing of development resulted in a later-adopted initiative restricting the timing of development and controlling the parties' agreement, it is the express intent of City and Developer that Developer have the right to develop the Project at such rate and times prior to the expiration of the Term as Developer deems appropriate, provided that development is consistent with the express terms of this Agreement and the Precise Plan. City acknowledges that such a right is consistent with the intent, purpose and understanding of the Parties to this Agreement, and that without such a right, Developer's development of the Project would be subject to the uncertainties sought to be avoided by the Government Code Section 65864 et seq. and this Agreement. The Parties acknowledge that this Agreement contains no requirement that Developer must complete development of the Project or any phase thereof, or development of the Property or any portion thereof within the Term of this Agreement or within any particular time period, and that this Agreement confers upon Developer the right, but not the obligation to construct the Project in accordance with the Precise Plan and this Agreement. ATTY/AGRl2008.013 022708 6