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6. PUBLIC HEARINGS A. PUBLIC HEARING AND INTRODUCTION OF ORDINANCE - FLATIRONS FUNDING, LIMITED PARTNERSHIP - Amend a Development Agreement for a 1,000,000 square foot office building complex, ("Electronics Arts Campus"), located at the northeast corner of Redwood Shores Parkway and Twin Dolphin Drive. (100) Location - 209 Redwood Shores Parkway, "CP" (Commercial Park District) and "PO" (Professional Office District.) APN 095-481-(010, 020, 030, 090,100.) Affidavit of Publication of Notice of Public Hearing on file in the Planning Division. 1. Staff Report; REPORT: Principal Plar¡ner Tom Passanisi, July 13, 1998 Principal Planner Passanisi presented the Staff Report. Using overheads he described the proposed Second Amendment to the existing Development Agreement and the Partial Assignment to the new owners who were purchasing a portion of the property. Planner Passanisi advised that the Second Amendment would include some of the proposed building sites moved about 100 feet to the south and the subsequent lot line adjustments. He advised that the Plan would still conform to the map and square footage, type and parking requirements outlined in the approved Planned Development Permit. Principal Planner Passanisi said that both the City's Architectural Review Board and Planning Commission had approved the relocation of the buildings. He said that part of the Second Amendment would include guaranteed sewer capacity up to 885,000 square feet of office space and the sale of additional capacity at a set rate of $2.50 per gallon per day, consistent with the existing agreement. Planner Passanisi described the request to add a "default position", and appropriate effective date. He also advised that dates in the Ordinance distributed in the Agenda Packet would be revised to reflect the approval date of the First Amendment as April 6 and recorded on April 15, 1998. Principal Planner Passanisi summarized the proposals to the Development Agreement: a change in the Exhibits, guarantee of sewer capacity, adding a default position, and establishing an effective date. He showed an overhead that outlined the old and the proposed building sites. Principal Planner Passanisi described Item. 6.B, the Resolution that would authorize the proposed Partial Assignment for the same Project. He said the new owners were not asking to change the previously approved Planned Development Permit and would comply with the approved square footage, parking, height and other requirements in REGULAR COUNCIL MEETING MINUTES BOOK NO. 57 WLY 13, 1998 MINUTES Page No. 078 PAGE 6