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7.A. - Page 4 Community Sustainability Fund These funds are available to provide additional program funds for the Neighborhood Street Enhancement Program, provide other infrastructure needs to promote sustainable neighborhoods throughout Redwood City, or other efforts, as determined by the City Council. These funds flow to the City when building permits are issued for new development, based on the percentage of that new development compared with the programmed net new square footage (982,000 square feet). As with all programs, the amount of this fund increases annually by the CCI noted above. Water Tank Improvements As part of its Water Master Plan, the City has identified the need for a 3 million gallon water storage tank along the Highway 101 corridor. Stanford has agreed to contribute $1,500,000 toward the design and construction of this vital infrastructure. These funds are due with the issuance of building permits based on the proportionality of the new development to the net new programmed development. Storm Water Improvements Stanford recognizes the impacts of flooding on its property as well as the adjoining residential neighborhoods. Because the City is actively working on a flood relief project along the Bayfront Canal and through restoration of salt ponds to seasonal wetlands, Stanford's $1,000,000 commitment to assisting with this effort is made available within 30 days of the execution of the Development Agreement. The Development Agreement requires these funds to be spent or encumbered within seven years because the City is moving well toward a beneficial solution. Economic Development Through this program Stanford will provide $5,000,000 worth of benefit to the City through entrepreneur training programs for Redwood City residents, businesses, and City staff. Examples of programs anticipated at this time are five years of an Entrepreneur's Boot Camp, the specifics of which will be developed between the City Manager and the Stanford Graduate School of Business. This program would be available to 40 people annually and topics could include Strategy, Personal Leadership, Marketing, Critical Thinking, Negotiation, Innovation, and Entrepreneurship. Also under consideration is a management program for City Employees that could enable more than 50 employees to experience Stanford University's programs. An Entrepreneurship Hosting series of two events per year over a five-year period is also considered. These events are envisioned as a speaker series with networking opportunities. Finally, the University is offering funding for openings in its Executive Education Open Enrollment Program to participants selected by the City Manager. Critical to the success of these programs is the ability of the City to amend the scope of the programs and to move 4