Reso 23-08 PC Reso 0030 Reso Recommending Approval of Amend. No. 3 to the 1548 Maple DA05.02.2023

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RESOLUTION NO._____ A RESOLUTION OF THE PLANNING COMMISSION OF THE CITY OF REDWOOD CITY RECOMMENDING THAT THE CITY COUNCIL APPROVE THE THIRD AMENDMENT TO THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND 1548 MAPLE LLC WHEREAS, Government Code Sections 65864 through 68569.5 provide the statutory authority for development agreements, including amendments thereto, between municipalities and owners of real property; and WHEREAS, the City of Redwood City (“City”) and 1548 Maple, LLC (“Developer”) are parties to a Development Agreement approved by City Council Ordinance No. 2445 adopted on May 21, 2018 (“Original Development Agreement”), as amended by two minor Insubstantial Amendments to the Development Agreement: a First Amendment to Development Agreement dated February 22, 2021 (“First Amendment”) and a Second Amendment to Development Agreement dated January 24, 2022 (“Second Amendment”) (the Original Development Agreement as amended by the First Amendment and Second Amendment is hereinafter referred to as the “Development Agreement”); and WHEREAS, the Development Agreement addresses development of a 131 market-rate townhome development with open space, streets, walkways, parking areas, bay trail improvements, waterfront amenities, and other on- and off-site infrastructure (“Project”) on that certain real property located at 1548 Maple Street (Assessor Parcel numbers 052-532-010, 052- 532-020 & 052-532-030), Redwood City, CA (“Property”); and WHEREAS, the Development Agreement requires Developer to, among other things, construct three segments of an extension of Blomquist Street from Maple Street to Redwood Creek, with Developer’s obligation to construct one of the three segments, the Blomquist-County Segment, conditioned on City acquiring within a specified time frame the necessary right-of-way for such segment from the County of San Mateo (“County”); and WHEREAS, City, Developer and County worked diligently and in good faith during 2020 and 2021 to negotiate a tri-party agreement among City, County and Developer (“Tri-Party Agreement”) and various other ancillary agreements, which provided, among other things, for (i) County to convey to City certain County-owned property at 1580 Maple Street including the necessary right of way area for the Blomquist-County Segment, in exchange for City’s conveyance to County of certain City-owned property located at 1469 Maple Street, and (ii) Developer to demolish the existing improvement on the 1580 Maple Street property following County vacation thereof with the costs of such demolition shared by County, City and Developer; and WHEREAS, the COVID-19 pandemic substantially impeded Developer’s ability to complete various pre-development tasks during the 5-year Initial Term of the Development Agreement; and WHEREAS, a lawsuit filed on August 2, 2018, and dismissed on October 15, 2018, resulted in a Force Majeure Delay that extended the Initial Term by seventy-four (74) days (“Litigation Force Majeure Delay”); and ATTY/RESO.0030/PC RESO RECOMMENDING APPROVAL OF AMEND.NO.3 TO THE 1548 MAPLE DA REV: 04-17-2023 VR Page 1 of 13 23-08