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May 25, 2010 -Execution Copy regulations. A proposal for the Retail Project will need to fulfill all CEQA requirements and receive City Council approval prior to the initiation of construction. I. City has determined that the Project presents certain public benefits and opportunities which are advanced by City and Developer entering into this Agreement. This Agreement will, among other things, (1) reduce uncertainties in planning and provide for the orderly development of the Project; (2) mitigate many significant environmental impacts; (3) provide public services and roadway and circulation improvements; (4) strengthen the City's economic base with a variety of high quality long term jobs, in addition to shorter term construction jobs; (5) provide for and generate substantial revenues for the City in the form of one time and annual fees and exactions and other fiscal benefits; (6) provide a comprehensively planned, integrated, seismically safe medical center campus that includes a modern state-of--the-art hospital and community amenities; and (7) otherwise achieve the goals and purposes for which the Development Agreement Statute was enacted. J. In exchange for the benefits to City described in the preceding Recital, together with the other public benefits that will result from the development of the Project, Developer will receive by this Agreement assurance that it may proceed with the Project in accordance with the "Applicable Law" (defined below), and therefore desires to enter into this Agreement. K. The City Council, after conducting a duly noticed public hearing, has found that this Agreement is consistent with the General Plan and has conducted all necessary proceedings in accordance with the City's rules and regulations for the approval of this Agreement. L. On Apri122, 2010, following a duly noticed public hearing, the Planning Commission recommended that the City Council approve this Agreement. Following City Council certification of the EIR, adoption or approval of the General Plan Amendment, the PD Zoning, and the PD Project, the City Council, following a duly noticed public hearing, adopted Ordinance No. 2010-007, approving and authorizing the execution of this Agreement. AGREEMENT NOW, THEREFORE, in consideration of the premises, covenants and provisions set forth herein, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: ARTICLE 1. DEFINITIONS "Administrative Project Amendment" shall have that meaning set forth in Section 7.01(a) of this Agreement. "Agreement" shall have that meaning set forth in the Introductory Paragraph of this Agreement. Page 3 of 36 1424669.1 Kaiser Medical Center and Retail Project Development Agreement