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S. :djg-c 4/15/82 ORIGINAL ORDINANCE 1859 MAY 24 7982 ORDINANCE APPROVING AND AUTHORIZING EXECUTION OF DEVELOPMENT AGREEMENT WITH REIV700D SHORES (GID 1-64); THEREBY ESTABLISHING FACILITIES CHARGE WHEREAS, Goverrmient Code Sections 65864-65865.5 authorize the City to enter into binding development agreements with persons having equitable or legal interests in real property for the development of such property; and WHEREAS, Redwood Shores, Inc. proposes to develop land that it owns in the area known as Redwood Shores in the City of Redwood City and to enter into an agreement with the City for such development; and WHEREAS, the Planning Commission, after noticed public hearing, has found that such agreement is consistent with the General Plan for Redwood Shores and has recommended to this Council that the agreement be approved; and WHEREAS, after noticed public hearing and upon finding that the agreement is consistent with the General Plan, this Council, also acting on behalf of General Improvement District No. 1-64 desires to approve and authorize execution of the development agreement with Redwood Shores, Inc. including the establishment of a facilities charge for the financing of public facilities within the area covered by said agreement; NOW, THEREFORE; THE COUNCIL OF REDWOOD CITY, for itself and on behalf of General Improvement District No. 1-64, does hereby ordain as follows: SECTION 1. That certain agreement, entitled "Development Agreement - GID 1-64" by and between the City of Redwood City, General Improvement District 1-64 and Redwood Shores, Inc., a copy of which is on file in the office of the City Clerk to which copy reference is hereby made for full particulars thereof, is hereby approved. SECTION 2. This Council does hereby find that the above referenced agreement is consistent with the General Plan. 1859