RecDoc 2013-166544 - Laserfiche WebLink

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expanding the City's economic base. The long-term occupancy of land contributes to community stability by providing services and jobs, and encouraging employees to become involved and active members of the community. City also desires to gain the public benefits of the Project, including funding for improvements and community benefit programs under the Existing Approvals and this Agreement, which are in addition to those dedications, conditions and Exactions required by laws or regulations, and which advance the planning objectives of, and provide benefits to, the City. H. Project Provides Substantial Benefits. For the reasons recited herein, City and Developer have determined that the Project is a development for which this Agreement is appropriate. This Agreement will minimize uncertainty regarding Existing Approvals and Subsequent Project Approvals, thereby encouraging planning for, investment in and commitment to use and development of the Property. Continued use and development of the Property will in turn provide substantial employment, economic and other public benefits to City, thereby achieving the goals and purposes for which the Development Agreement Statute was enacted. I. Consistent with General Plan. City has given the required notice of its intention to adopt this Agreement and has conducted public hearings thereon pursuant to Government Code section 65867. As required by Government Code section 65867.5, City has found that the provisions of this Agreement and its purposes are consistent with the goals, policies, standards and land use designations specified in the General Plan. J. Enacting Ordinance. On September 9, 2013 the City Council introduced Ordinance No. 2400 approving this Agreement and authorizing its execution, and adopted that Ordinance No. 2400 on September 23, 2013. That Ordinance ("Enacting Ordinance") became effective on October 23, 2013. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and other valuable consideration, the Parties hereby agree as follows: ARTICLE 1 ADMINI5TRATION 1.1 Definitions. "Administrative Amendment" is defined in Section 7.2.1. "Affiliated Party" is defined in Section 6.1. "Agreement" shall mean this Development Agreement between City and Developer, including all Exhibits hereto. "Applicable City Regulations" means (a) all City ordinances, rules, regulations, official policies, standards and specifications set forth in this Agreement and the Existing Approvals, including the specific conditions of approval adopted with respect to the Existing Approvals; (b) with respect to matters not addressed by this Agreement or the Existing Approvals but governing permitted uses of the Property; building locations, sizes, densities, intensities, design and heights; site design, setbacks, lot coverage and open space; parking; and Exactions, those ordinances, rules, regulations, official policies, standards and specifications in force and effect on the 3 ATTY/AGR/2013.134/STANFORD DEVELOPMENT AGREEMENT REV: 08-14-13 PT