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REV: 07-29-2021 VR <br />REIMBURSEMENT AGREEMENT <br />BETWEEN THE CITY OF REDWOOD CITY AND <br />LANE 1900 BROADWAY OWNER <br />THIS REIMBURSEMENT AGREEMENT (“Agreement”) is dated for informational <br />purposes only as of the ____ day of _____________, 2021 by and between the CITY OF <br />REDWOOD CITY, a charter city and California municipal corporation (“City”), and LANE 1900 <br />BROADWAY OWNER, LLC a California limited liability company (“Developer”) (referred to <br />herein individually 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 approvals <br />to pay the costs of processing the application. Reimbursement includes among other things the <br />cost for City staff, consultants, including environmental consultants, and special legal counsel. <br />Developer has filed an Application with the City, which would be governed by Resolution 14609; <br />therefore, consistent with the intent and framework of Resolution No. 14609, the Parties agree to <br />enter into this Agreement requiring Developer to reimburse City for City resources expended <br />during its evaluation of Developer’s proposed development of the Project (defined below). <br />B. Developer has proposed a project located at 1900 Broadway, Redwood City, <br />California which includes the construction of a mixed-use office, retail and affordable housing <br />project (the “Project”). <br />C. The Parties desire to enter into this Agreement to implement the reimbursement <br />policy of Resolution No. 14609 and specifically to cover the costs incurred commencing as of July <br />1, 2021 and to be incurred by City in connection with the processing of the Project application. <br />Developer understands that its funding of such costs is at its sole risk and that nothing in this <br />Agreement is or shall be construed to control or limit the City’s exercise of discretion with respect <br />to any aspect of evaluating the Project, nor shall it be construed as making any commitment <br />regarding the granting of any entitlements for development. Developer further acknowledges and <br />understands and accepts the risk that the City may elect to discontinue this process completely at <br />any point whatsoever. <br />D. Developer acknowledges and understands that Developer shall be required to fund <br />City’s costs associated with obtaining any land use approvals or entitlements in furtherance of <br />development of the Project. The parties understand that the intent is to provide that City shall <br />recover all costs associated with the review, evaluation, and processing of the Project. <br />E. The Parties intend that as a result of this Agreement, by implementing the <br />reimbursement policy, all costs and expenses associated with City’s review, evaluation, <br />consideration, and processing of the Project applications and inspection of the Project, including <br />but not limited to compensation for all City employee staff time and payment of all third party <br />consultant contracts including legal consultants, shall be paid using funds deposited in advance <br />with City by Developer for such purpose and that City shall not be required to advance City funds <br />or incur any liability to cover such costs and expenses. <br />ATTY/AGR.2021.201/Lane 1900 Broadway Owner (Page 1 of 9) <br />August11