Agmt 2007 John Benjamin Company - Laserfiche WebLink

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REIMBURSEMENT AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO AND THE JOHN BENJAMIN COMPANY FOR THE COST OF ENVIRONMENTAL CONSULTING SERVICES FOR PROPERTY IN THE WEST SAN LEANDRO/MACARTHUR BOULEVARD REDEVELOPMENT PROJECT AREA This Reimbursement Agreement ("Agreement") is entered into effective as of March 1'1 , 2007 ("Effective Date") by and between the Redevelopment Agency of the City of San Leandro, a public body, corporate and politic ("Agency") and the John Benjamin Company, a California corporation ("Developer"). Agency and Developer are hereinafter collectively referred to as the "Parties." RECITALS A. The economic growth and redevelopment of MacArthur Boulevard within the West San Leandro/MacArthur Boulevard Redevelopment Project Area is a priority of the City of San Leandro and the Agency. B. The Agency has recently invested a substantial amount of redevelopment funds for the development and improvement of the streetscape on MacArthur Boulevard. C. The Agency has identified certain properties on MacArthur Boulevard as being necessary to the continued investment in and improvement on and around Macarthur Boulevard. D. The Agency has deemed it appropriate to provide limited financial assistance for environmental remediation and/or environmental testing to the owners and/or developers of properties burdened with potential and/or confirmed environmental afflictions. E. The Developer has the option to purchase that certain real property located at 326-340 MacArthur Boulevard, San Leandro and known as Alameda County Assessor's Parcel Nos 076 0316 014 01 and 076 0316 012 01 (the "Property"). F. Developer intends to retain a consultant(s) ("Consultant") to conduct certain environmental analysis of the Property, including but not limited to the preparation of Phase I and/or Phase II environmental studies ("Environmental Studies"). G. In accordance with the terms and conditions set forth in this Agreement, Agency has agreed to reimburse Developer for funds expended by Developer for Environmental Studies related to the Property. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 1, reference. Recitals. The foregoing Recitals are true and correct and hereby incorporated by 2. Developer to Retain Consultant. As a necessary and indispensable part of its fact finding process relating to the environmental condition of the Property, the Developer shall retain, by means of contracts ("Consultant Contract"), the services of Consultant(s). Developer shall provide to Agency the Reimbursement Agreement