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7. Condition of Site <br />The Agency will convey the Site in "as is" condition pursuant to the terms and conditions of the <br />Agreement. The Agency is not responsible for the cost of any remeditation that might be required <br />after conveyance of the Site to the Developer. <br />B. Project <br />The Project (Phase 1 or "Minimum Project") will consist of construction of a new, first-class <br />office complex. The architectural features and building materials will be of a higher quality <br />than would typically be found in a standard office complex. Core components of the Minimum <br />Project include construction of the following: <br />■ Two 3- and 4 -story office buildings with approximately 130,000 sq.ft. of net <br />rentable area (NRA) of office space plus common areas (i.e., one building of <br />80,000 sq.ft. NRA and another building with 50,000 sq.ft. of NRA); <br />■ A ground -floor restaurant within the office complex, containing not less than 2,000 <br />sq.ft. of NRA. <br />■ A minimum of 434 surface parking spaces with extensive parking lot landscaping; <br />■ High quality site amenities, including an upgraded plaza with a fountain at the <br />corner of San Leandro Boulevard and Davis Street; and <br />■ A creekwalk on the adjacent city property ("Adjacent Site") <br />Overall, the Minimum Project must conform to the provisions and property development <br />standards contained in the proposed Agreement. <br />A second phase ("Phase 2") containing 50,000 sq.ft. of net rentable office space could be built by <br />the Developer at a later date provided that a privately financed parking garage for 500+ cars is <br />constructed. This analysis is based on the Minimum Project, or Phase 1, development only, as <br />there is no obligation in the DDA to construct the second phase. <br />cvg� <br />Keyser Marston Associates, Inc. <br />19096.001\002-002.doc Page 9 <br />