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7 <br />Under this extended Agreement (2003- 2006), the City/District will designate one of its <br />three representatives to the Redwood Shores Community Association, and Redwood <br />Shores Properties will designate one of its three representatives to the Redwood <br />Shores Owners Association and one to the Shores Businees Center Association. This <br />new representation will reflect the additional needs from local residents and business <br />owners, and enable them to co- manage the remaining facility fee balance. <br />Once the planned projects are completed, this newly configured group would also deal <br />with the dissolution of the GID Committee and the distribution of any surplus fund, as <br />stated in the Agreement. <br />Alternative <br />Not approve the Amendment to the Development Agreement, and /or modify it as <br />necessary. <br />Fiscal Impacts <br />The approval of this Development Agreement extension will insure the continuous <br />revenue, which supports the infrastructure construction in the Redwood Shores <br />General Improvement District 1 -64, as well as complete build -out of necessary <br />facilities. <br />Chu Chang truce Liedstrand d Everett <br />Supervising Civil Engineer Community Development Services Director City Manager <br />CHU:ss <br />sAbrary/reports/chWGID 1 -64 Development Agreement Extension — e Amend <br />