RecDoc 2013-166544 Conf - Laserfiche WebLink

Browse Search

anniversary of the Effective Date and with the additional annual payments due each of the four years thereafter. 3.9 Publicly Accessible Private Open Space. Developer shall designate, design and improve 2.4 acres of publicly accessible privately owned open space adjacent to Spinas Park in conjunction with the first phase of development which includes Net New Development and in accordance with the requirements of the Precise Plan. Within thirty (30) days of the completion of the required improvements on the 2.4 acre-open space area, the City and Developer shall execute and record the Easement and Maintenance Agreement attached hereto as Exhibit D, and incorporated herein by this reference. 3.10 City Report to Developer on Public Benefits. No more than once in any two-year period, Developer may request City to provide a written report documenting its expenditures of the Contributions. City shall provide the report to Developer within 60 days of Developer's request. In the event that the Contributions are expended in a manner inconsistent with this Agreement, the City shall be obligated to replenish the amount of improperly expended funds so that such funds may be used in a manner consistent with this Agreement. 3.11 Sales Tax Point of Sale Desi n�. Developer shall use good faith efforts to the extent allowed by law to require all persons and entities providing bulk lumber, concrete, structural steel and pre-fabricated building components, such as roof trusses, to be used in connection with the construction and development of, or incorporated into, the Project, to (a) obtain a use tax direct payment permit; (b) elect to obtain a subcontractor permit for the job site of a contract valued at Five Million Dollars ($5,000,000) or more; or (c) otherwise designate the Property as the place of use of material used in the construction of the Project in order to have the local portion of the sales and use tax distributed directly to the City instead of through the county-wide pool. Developer shall instruct each of its subcontractors to cooperate with the City to ensure the full local sales/use t� is allocated to City. To assist City in its efforts to ensure that the full amount of such local sales/use taY is allocated to the City of Redwood City, Developer shall provide City with an annual spreadsheet, which includes a list of all subcontractors with contracts in excess of the amount set forth above, a description of all applicable work, and the dollar value of such subcontracts. City may use said spreadsheet sheet to contact each subcontractor who may qualify for local allocation of use taxes to the City. 3.12 Broadway Roadway Configurations. Developer shall contribute $75,000 toward the cost of the City's evaluation of potential changes to the roadway configuration for Broadway to accommodate a potential, future streetcar, bicycle lanes, andlor parallel parking (the "Broadway Roadway Configuration Contribution"). 3.12.1 Payment. Developer shall pay City the full amount of the Broadway Roadway Configuration Contribution within 30 days of Developer's receipt of written notice that City has commenced its evaluation of potential roadway configuration changes for Broadway; however, if City does not commence its evaluation of potential roadway configuration changes for Broadway and provide written notice thereof to Developer within one year of the effective date of this Agreement, then Developer's obligation to make the Broadway Roadway Configuration Contribution shall be void. 25 ATTY/AGR/2013.134/STANFORD DEVELOPMENT AGREEMENT REV: 08-14-13 PT