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ORIGINAL <br /> LICENSE AGREEMENT BETWEEN THE CITY OF REDWOOD CITY <br /> AND <br /> 601 MARSHALL STREET OWNER, LLC <br /> TH LIC E AGREEMENT ("AgreemenY') is entered into as aa day of <br /> 16 (the "Effective Date"), by and between THE CITY OF REDWOOD CITY, <br /> a chart ci and municipal corporation of the State of California ("CITY"), and 601 MARSHALL <br /> STREET OWNER, LLC, a California limited liability company ("LICENSEE"). <br /> RECITALS <br /> A. CITY owns real property located at 707 and 777 Bradford Street, California, as <br /> more particularly described in Exhibit A attached hereto and incorporated herein by reference <br /> ("City Property"). <br /> B. CITY acquired the City Property from the Redwood City Redevelopment Agency, <br /> for the purpose of continuing the affordable housing redevelopment of the City Property. <br /> C. CITY remains committed to development of affordable housing on this site and is <br /> planning for a senior affordable housing project. In the interim, CITY does not currently use the <br /> Property for any particular purpose. <br /> D. CITY recognizes that there are currently short-term parking constraints arising <br /> from the pressure of new development in the Downtown: <br /> E. LICENSEE is the developer for the construction project located at 601 Marshall <br /> Street ("Project"), a 124,120 square foot office development. <br /> F. The CITY has improved, including the subgrade of, the City Properry for interim <br /> parking uses to meet specific demands until the City Property can be developed as anticipated. <br /> G. During construction of the 601 Marshall Street Project, LICENSEE desires to use <br /> a portion of the City Property for construction worker vehicle parking of up to 40 spaces, as <br /> shown on the attached Exhibit B ("License Area"). <br /> H. CITY has determined that the temporary use proposed by LICENSEE provides a <br /> common benefit to the Downtown area. <br /> I. CITY is concurrently providing a license to Premia 550 Development LLC to use <br /> up to 40 spaces of the City Property for construction worker vehicle parking (as shown on the <br /> attached Exhibit B). <br /> J. CITY is also concurrently providing a license to the County of San Mateo for their <br /> shared use of the License Area of up to 70 spaces for employee vehicle parking (as shown on <br /> the attached Exhibit B). <br /> K. CITY is willing to provide to LICENS�E a license to use License Area for <br /> construction worker vehicle parking purposes during construction of the 601 Marshall Street <br /> Project, all on the terms set forth herein. <br /> Page 1 of 12 <br /> ATTY/AGR/2016.051/601 MARSHALL STREET LICENSE AGREEMENT <br /> REV:04-18-16 VR <br />