Agmt10 Redwood City Plant Site, LLC

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ORIGINAL REIMBURSEMENT AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND REDWOOD CITY PLANT SITE, LLC THIS ~~~RSEMENT AGREEMENT ("Agreement") is made and entered into on the ~ day 0 ,2010 by and between the CITY OF REDWOOD CITY, a charter city and CalIfornia m nicipal corporation ("City"), and REDWOOD CITY PLANT SITE, LLC a Delaware limited liability company ("Saltworks") (collectively, the "Parties"). RECIT ALS A. By Resolution #14609, adopted in September 2004, City established a Cost Recovery Policy for major planning applications that requires an applicant for planning approvals to pay the costs of processing the application. Reimbursement includes among other things the cost for City staff, consultants, including environmental consultants, and special legal counsel. B. Saltworks has a legal and/or equitable interest in approximately 1,436 contiguous acres of real property located within the City, east of Seaport Boulevard and north of US-l 01, as depicted in the attached Exhibit A-I, and as more particularly described in the attached Exhibit A-2 (the "Property"). C. Saltworks has submitted to City applications (collectively, the "Applications") for certain planning approvals, including environmental review, required for a project that Saltworks proposes to develop on the Property. The Applications request approval of a general plan amendment, rezoning and associated amendments to the zoning code, specific plan and development agreement (collectively, the "Entitlements"). D. City and Saltworks have entered into this Agreement to implement the reimbursement policy of Resolution #14609 pursuant to which City will review the Applications and Saltworks will fund that review. Nothing in this Agreement is or should be construed to be a covenant, promise, or commitment by City (including, without limitation, any agency, board, or commission of the City) to grant any Entitlement or to act to final decision on any Application, nor shall it prevent City (including, without limitation, any agency, board, or commission of the City) from acting on any Application in any manner other than that deemed proper by City. E. If City concludes that its environmental review document should be prepared to address the requirements of the National Environmental Policy Act (i.e., as ajoint EIR-EIS), then any additional work required thereby will be covered by this Agreement.