Agmt01 Western Innisfree Ventures LLC

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2. Requested Agency's assistance in acquiring the properties Developer has been unable to acquire or control as of the Effective Date; 3. Initiated the planning process for a zoning text amendment, use permit, Planned Development Permit, and architectural review (the "Project Approvals") for the development of the Project; 4. Entered into that certain "Advance Funding Agreement-Redwood City Redevelopment Agency-Downtown Retail-Cinema Project," dated September 9, 1999 (the "Advanced Funding Agreement"), whereby Developer agreed to advance funds or reimburse Agency for payment of Agency expenses and consultant services in connection with implementing the ERN, including, but not limited to, the costs ofplarming, environmental review, acquisition, relocation, financial analyses and legal services, but excluding Agency and City staff time; 5. Negotiated the terms and conditions of the Initial Agreement; and 6. Entered into an agreement with the Building and Construction Trades Council - San Mateo County, committing to construct the Project with only union signatory contractors and subcontractors. C. Subsequent to execution of the Initial Agreement, the Agency, the City and the Developer have: 1. Reconsidered the scope, design and development of certain portions of the Project as initially described in the Initial Agreement, and have agreed upon certain changes in the scope, design and development of the Project, all as hereinafter set forth herein, and have negotiated the terms of this Agreement, including the Schedule of Performance attached hereto as Attachment 4 (the "Schedule of Performance"). The Schedule of Performance shall be subject to revisions from time to time as mutually agreed upon in writing by the Parties. The City and the Agency, respectively, acknowledge that the City Manager of the City shall be authorized to approve on behalf of the City, and the Executive Director of the Agency shall be authorized to approve on behalf of the Agency, the making of any such revisions to the Schedule of Performance that are non-material. 2. Agreed to enter into this Agreement on the terms and conditions contained herein. §104 The Redevelopment Plan This Agreement is subject to the provisions of the Redevelopment Plan as adopted by Ordinance No. 1862 and as amended by Ordinance No. 1911, Ordinance No. 2007 and Ordinance No. 2085 of the City ("Redevelopment Plan") which is incorporated herein by reference and made a part hereof as though fully set forth herein. The Agency agrees that prior to the issuance of the Certificate of Completion, no amendment of the Redevelopment Plan by the Agency which changes the uses or development permitted on the Project Site or changes the restrictions or controls that apply to the Project Site, 3 DOCSSF1:648942~4 9975-5 C14 120502