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development agreement with the City, the :City is assured that exactions <br />and restriction can be imposed. This will eliminate impacts that might <br />ght . <br />occur if multiple owners developed the Project site in a piecemeal, <br />disjointed manner. <br />( The Project will help to mitigate traffic problems in the area through .a <br />number of exactions and requlrernents, including the following: I) the <br />Project will participate in a proposed traffic assessment district; which <br />Will require commercial (but.not residential properties to contribute funds <br />)p ro p <br />for traffic improvements; and <br />(2)the.Project will provide the ri t- of -wa. • gh <br />for the Shoreline . Drive extension, and will advance the fundin for the <br />g <br />roadway improvements for the extension, which will provide relief for <br />circulation and traffic impacts beyond those needed to offset the impacts <br />of the . Prod ect. <br />(10) Pursuant to the Development Agreement for the Project, the Project <br />applicant has. agreed to pay the City $400,000 to use for purposes <br />benefitking the Redwood Shores community. Half of this fund ($200,000) <br />shall be .expended for a permanent fire station in Redwood Shores, while <br />the remaining $200,000shall be used to, fund a community center or for <br />any .other community purpose that the City determines to be appropriate. <br />G1) The Project will make significant contributions to the City's tax base <br />through (a) the increase in property tax increment generated through the <br />construction of the project; (b) the increase in sales tax in the immediate <br />area through the creation of demand for local retail .services caused by the <br />increase in .local employment; and (c) the increase in local hotel tax <br />generated when Project visitors stay at .adjacent hotels. <br />6, 0 FLING THAT THE PROJECT HEIR REFLECTS THE Cam' S <br />DEPENDENT JUDGMENT <br />The City hereby finds that the .Prof ect EIR reflects the City's independent <br />judgment. The facts . in support of this finding are . as follows: <br />{ 1 The Project EI .ores provided. to members of the Planning Comtnission <br />on 1996 and to the City Council on , 1996. The Planning <br />Commission and the City Council <br />reviewed the project I p rior to <br />dete M n M n g whether to approve the Pro " ect. <br />(2) The Addendum was prepared by the City, and includes information <br />provided .by the Project applicant. The Project Traffic Study and the <br />-35- <br />FNDNGP 1.DGC <br />5130196 10:51.AM <br />