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7.A. - Page 5 <br /> funds between the proposed allocation amounts as the City's needs and goals both shift <br /> and become more clearly defined. The connection of Stanford University and the <br /> benefits of a long-term relationship with the City are most clearly seen when the <br /> educational opportunities are employed. <br /> Recreation and Wellness <br /> The Development Agreement anticipates a contribution to the development of a new <br /> multi-use center at Red Morton Park. Stanford's commitment to this City project is <br /> $200,000 per year for five years, beginning on the first anniversary of the Agreement. If <br /> the City moves forward sooner with the project, the full remainder of the $1,000,000 is <br /> due to the City within 30-days of its request. <br /> Arts and Music Contribution <br /> In support of the City's lively performing arts programs, the five year commitment is <br /> $50,000 per year. The first payment comes to the City after the first year of the <br /> Development Agreement. The City Council will direct the distribution of these funds. <br /> Education Contribution <br /> As with the Arts and Music funding, this is also a five-year commitment to the Redwood <br /> City Educational Foundation, at $50,000 per year. <br /> Bicycle Svstem Improvements <br /> Above the transportation and traffic improvements required in the Environmental Impact <br /> Report, Stanford and the City recognize the importance of enhanced alternative modes <br /> of transportation. Not only for the new employees to the project area, but for the <br /> surrounding community. These funds develop more bicycle lane improvements <br /> between their property and the Downtown, Caltrain Station, and Middlefield Road. <br /> These funds ($450,000) become available prior to issuance of a building permit for any <br /> new development on the property. <br /> Bus Shelter Improvements <br /> The $100,000 become available at the time a building permit is issued for any project <br /> that increases the gross building square footage beyond 1,000,000 square feet. These <br /> funds will provide better bus shelters within one-half mile of the project site, with the <br /> intent of improving the public transit experience and thereby encouraging increased <br /> transit ridership. <br /> Broadway Roadway Configuration Study <br /> 5 <br />