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9. Ensure that the foregoing objectives are achievable through prepar 7.A. - Page 251 approval of a comprehensive land use plan addressing such issues as development standards, design guidelines and capital improvement plans and policies. The Precise Plan is intended to set forth the following features: superior development and urban design guidelines and standards; circulation policies and capital improvements for, among other things, improved vehicular, pedestrian, and bicycle circulation, neighborhood street enhancements (NSEP), transit and campus transit hub improvements, Transportation Demand Management (TDM), emergency water supply and a recycled water system connection, storm drainage and flood protection, and provision of a publicly accessible open space area adjacent to Spinas Park. The Precise Plan also contains implementation strategies for, among other things, a Development Agreement between the Stanford University and the City of Redwood City, sustainability and resource efficiency, TDM, NSEP, shuttle service, financing and maintenance of capital improvements, and development impacts, monitoring and phasing. The Precise Plan's Implementation Chapter IV also describes, among other things, the Project's Transportation Demand Management (TDM) Program and shuttle service designed to reduce peak hour auto trips by approximately 18%, a Neighborhood Streets Enhancement Program and new bicycle ways that are to be funded by Stanford University to implement complete streets/ pedestrian/ bicycle improvements within surrounding residential neighborhoods. Refer to the Precise Plan tables on pages 74- 75 and 85 and the MMRP for a summary of the improvements and improvement timelines that are required as conditions of project approval. Development Aqreement The Planning Commission is also being asked to recommend City Council approval of a Development Agreement (DA) between the City of Redwood City and Stanford University for Precise Plan Blocks A-E. (Attachment 6) The DA was negotiated by staff in consultation with the Council Subcommittee based on fiscal and economic studies prepared by the City's economic consultant, Keyser Marston Associates (KMA), that were previously provided to the Planning Commission and City Council at a Joint Study Session held on November 8, 2010. The following guiding principles, approved by the City Council in September 2009, were also used to help guide the negotiation process between Redwood City and Stanford University: 1. Provide positive mutual benefits: • Mutual benefit to City, nearby neighborhoods & Stanford project 2. Provide community based benefits: • Address project impacts beyond EIR/Precise Plan required mitigation; or • Provide benefits that Stanford, as a unique academic institution, is best situated to provide 3. Fiscal Balance: • Support Council's goal of long-term fiscal sustainability