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09/27/2010 WHEREAS, Developer proposed, and the City Planning Commission approved, a revised project that includes approximately 231 residential units (the "Revised Project" which is also known as "One Marina"); and WHEREAS, in the future, Developer may apply for a separate Planned Community Permit, tentative map, and/or other necessary permits, and subject to Planning Commission review and approval may develop, 10,000 rentable square feet of community-serving retail space integrated with a hotel of up to 200 rooms, on a site reserved for both for such purposes; and WHEREAS, the City and Developer have reached mutual agreement and desire voluntarily to enter into a First Amendment to the Development Agreement to modify the requirements applicable to development of the Property to address the Revised Project as approved by the Planning Commission, and which among other modifications, addresses a change in minimum progress standards, a change in construction phasing, and certain modifications to affordable housing, childcare, and infrastructure requirements; WHEREAS, the Planning Commission has determined that the development of the Revised Project as approved by the Commission pursuant to a Planned Community Permit and as set forth in this Amendment is consistent with the intent of the Precise Plan; and WHEREAS, the Planning Commission has reviewed, and the City Council has determined that the environmental impacts of development pursuant to this Amendment are adequately analyzed and mitigated by measures identified in the EIR and the EIR addendum, and no further environmental review is required for approval of this Amendment under the California Environmental Quality Act; NOW, THEREFORE the Council of the City of Redwood City does ordain as follows: SECTION 1. This Ordinance incorporates, and by this reference, makes a part hereof, the First Amendment by and between the City of Redwood City and R.C. Peninsula Park, LLC substantially in the form on file with the City Clerk. SECTION 2. This Ordinance is adopted under the authority of Government Code Section 65864, et seq. SECTION 3. This First Amendment is consistent with the General Plan of the City of Redwood City, as amended, the Precise Plan as adopted, and the Zoning Ordinance as amended by the City. SECTION 4. Based on the findings set forth in this Ordinance and that Staff Report, the City Council hereby approves the First Amendment substantially in the form ATTY/ORD/ORD.337 090910 2 #2359 MUFF # 304