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ORIGINAL <br /> REIMBURSEMENT AGREEMENT <br /> BETWEEN THE CITY OF REDWOOD CITY AND <br /> HAMILTON & WINSLOW PROPERTIES LLC <br /> THIS REIMBURSEMENT AGREEMENT ("Agreement") is dated for informational <br /> purposes only as of the �_ day of , 201',�by and between the CITY OF <br /> REDWOOD CITY, a charter city and lifornia municipal corporation ("City"), and <br /> HAMILTON & WINSLOW PROPERTIE LLC, a California limited liability company <br /> ("Developer") (referred to herein individuall as "Party," or collectively, the "Parties"). <br /> RECITALS <br /> A. By Resolution No. 14609, adopted in September 2004, City established a Cost <br /> Recovery Policy for major planning applications that requires an applicant for planning <br /> approvals to pay the costs of processing the application. Reimbursement includes among other <br /> things the cost for City staff, consultants, including environmental consultants, and special legal <br /> counsel. Developer has filed an Application with the City which would be governed by <br /> Resolution 14609; therefore consistent with the intent and framework of Resolution No. 14609, <br /> the Parties agree to enter into this Agreement requiring Developer to reimburse City for City <br /> resources expended during its evaluation of Developer's proposed development of the Project <br /> (defined below). <br /> B. Developer has proposed a project located at 815 Hamilton, 2215 Broadway, 840 <br /> Middlefield which includes the construction of a new five-story retail/office building, plus two <br /> levels of underground parking (the "Project"). <br /> C. A portion of the proposed underground parking would lie beneath Theatre Way <br /> and Hamilton Street. In addition, the underground parking would connect to existing below- <br /> grade public parking that serves the existing Retail/Cinema development ("Cinema") to the east <br /> of the Project and to the contemplated future hotel site ("Hotel") that is west of the Project. <br /> D. The Parties are presently evaluating the feasibility of the proposed Project from a <br /> design, financial and market perspective, and, if desired by both Parties, they will commence <br /> negotiations on a proposed agreement or agreements between City and Developer that will allow, <br /> among other things, patrons of the Cinema and/or Hotel developments to use the Project's <br /> underground parking. <br /> E. The Parties desire to enter into this Agreement to implement the reimbursement policy of <br /> Resolution No. 14609 and specifically to cover the costs incurred commencing as of August 13, <br /> 2014 and to be incurred by City in connection with the negotiation, analysis, drafting and <br /> implementation of the potential agreements and processing of the Project application. Developer <br /> understands that its funding of such costs is at its sole risk and that nothing in this Agreement is <br /> or shall be construed to control or limit the City's exercise of discretion with respect to any <br /> aspect of evaluating the Project, or its ultimate determination to enter into an agreement or <br /> agreements regarding the Project or the associated parking, nor shall it be construed as making <br /> any commitment regarding the granting of any entitlements for development. Developer further <br /> ATTY/AGRlHAMILTON&WINSLOW REIMBURSEMENT AGREEMENT <br /> 82483.000 I 919492109.3 <br />