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= _ = _o� g.�,3 <br /> — CON3�RU�5.REIMBURSEMENT AGREEMENT <br /> = = FO�OWNTOWNPUBLIC PARKING FACILITY -• �� uNOex�aouwovueuc <br /> _ _ __'______"'___"_'________.-'" PARIQNGFACILlTY <br /> THIS C$�+IST� F2 �MBURSEMENT AGREEMENT (the "AgreemenY) is entered into <br /> =+*++s- '� of — , 2003, by and between the REDWOOD CITY <br /> REDE'�g},OPIO�LT AGENCY, a public body, corporate and politic (the '4gency'), the CITY OF <br /> — REDWO(3�CITY;�chaRer city and municipal corporation (the 'City'), and BHV INNISFREE <br /> = VENTURES� LLC a Calffomia limited liability company, in which Cinema Square, LLC, a <br /> �slifomia limtfed liability company, and Blake Hunt Ventures I, LLC, a Califomia limited liability <br /> compacr�are the sole members (the "Develope�'). <br /> Recitals <br /> A. The Agency is in the process of implementing the Reclevelopment Plan for <br /> Redevelopment Project #2, Redwood City Community Redevelopment Project (the "Pian"). <br /> B. The Agency, Developer and the City entered into an Amended and Restated <br /> Disposition and Development Agreement (the "DDA") for powntown Retail- <br /> Cinema and Parking Project (the "ProjecY) on January 8, 2003, for the development of a two-level <br /> - ea�eeae: �'werorwna puwc o.�+a <br /> I retail-cinema project and anPublic Parkina Facilitv_(the_°Pubiic_Parking_Facilit�') within_an_area_...-�" �,oi;ry <br /> defined in the DDA as the "Project Site " Terms defined in the DDA shall have the same meaning <br /> when used in this Agreement. <br /> C. In approving the DDA, both the City and the Agency determined that it would not be <br /> feasible or cost effective to competitively bid the Public Parking Facility portion of the Project <br /> because the Public Parking Facility will be located directly beneath the private improvements to be <br /> developed by Developer on an air rights parcel. As a result, the public and private portions of the <br /> Project will be structuralty and physically interrelated with each other. As specified in the DDA, <br /> construction of the Public Parking Facility on the Project Site is a necessary component of the <br /> Project. <br /> D. As specified in the DDA, Developer will construct the Public Parking Facility, and is <br /> responsibie for overseeing the design, development and construction of the Public Parking Facility <br /> portion of the Project, pursuant to the terms and conditions contained in this Agreement. w�maeaa: rmr. 9� <br /> w�am: seenv�o s3teeroao� <br /> 9126'03 1 <br /> I 569 �� a 1 p 33786'000 L <br /> ._....._..__'_ __...____.__..__..._......_.__._._._._______________________________________._.' <br /> D BB 100903/Agr.147 <br />