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<br /> 2 <br /> <br /> <br />Agreement, to inject a sufficient degree of certainty in the land use regulatory process to justify <br />the substantial financial investment associated with development of the Project. As a result of the <br />execution of this Development Agreement, both Parties can be assured that the Project can <br />proceed without disruption caused by a change in City planning and development policies and <br />requirements, which assurance will thereby reduce the actual or perceived risk of planning, <br />financing and proceeding with construction of the Project. <br />H. City is desirous of advancing the socioeconomic interests of City and its residents <br />by attracting advanced technology companies to the San Leandro fiber loop, attracting companies <br />that can create significant employment that will benefit from access to and create ridership for <br />BART and Alameda Contra Costa Transit; promoting pedestrian and bicycle access to downtown <br />San Leandro; promoting the productive use of property and encouraging quality development and <br />economic growth, thereby enhancing employment opportunities, including but not limited to <br />high-skilled technology and related professional employment, for residents and expanding City’s <br />property tax base. <br />I. City has determined that by entering into this Development Agreement: (1) City <br />will ensure the productive use of property and foster orderly growth and quality development in <br />City; (2) development will proceed in accordance with the goals and policies set forth in the City <br />of San Leandro General Plan (the “General Plan”) and will implement City’s stated General <br />Plan policies; (3) City will receive substantially increased property tax revenues; (4) City will <br />benefit from increased employment and housing opportunities for residents of City that are <br />created by the Project; and (5) the Project will contribute to the revitalization of Downtown <br />San Leandro. <br />J. Developer has applied for, and City has granted, the Project Approvals (as defined <br />in Section 1.7) in order to protect the interests of its citizens in the quality of their community and <br />environment. <br />K. City has undertaken, pursuant to the California Environmental Quality Act <br />(Public Resources Code Section 21000 et seq., hereinafter “CEQA”), the required analysis of the <br />environmental effects that would be caused by the Project and has determined those feasible <br />mitigation measures which will eliminate, or reduce to an acceptable level, the adverse <br />environmental impacts of the Project. The environmental effects of the proposed development of <br />the Property were analyzed by the Final Environmental Impact Report (the “2007 FEIR”) <br />certified by City on September 4, 2007 in connection with the TOD Strategy. City has also <br />adopted a mitigation monitoring and reporting program (the “MMRP”) to ensure that those <br />mitigation measures incorporated as part of, or imposed on, the Project are enforced and <br />completed. Those mitigation measures for which Developer is responsible are incorporated into, <br />and required by, the Project Approvals. <br />L. In addition to the Project Approvals, the Project may require various additional <br />land use and construction approvals, termed Subsequent Approvals (as defined in Section 1.7.6), <br />in connection with development of the Project. <br />M. City has given the required notice of its intention to adopt this Development <br />Agreement and has conducted public hearings thereon pursuant to Government Code