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4 I.City has determined that the Project provides certain public benefits and opportunities which are advanced by City and Developer entering into this Agreement. This Agreement will, among other things: 1.provide for the construction of high quality single family and multifamily housing units that will satisfy a portion of City’s share of the regional housing needs, 2.provide dining and hospitality opportunities for residents of the City and their families and guests in a scenic area of the City, 3.provide revenues necessary for City to remove outdated materials and infrastructure in the marina and the associated parking area and create a new Park Element in order to remove blight and provide recreational opportunities for City residents, 4.provide revenues necessary for City to reconstruct the Mulford-Marina Branch Library in order to enhance library resources and services for City residents, 5.provide for the upgrading and reconstruction of Monarch Bay Road and a variety of other roads, trails, and other infrastructure projects in the Shoreline-Marina area of the City, 6.reduce uncertainties in planning and provide for the orderly development of the Project; 7.ensure that development will proceed in accordance with the goals and policies set forth in the City of San Leandro General Plan (the “General Plan”) and will implement City’s stated General Plan policies; 8.mitigate many significant environmental impacts; 9.strengthen the City’s economic base with a variety of long-term jobs, in addition to shorter term construction jobs; 10.provide for and generate substantial revenues for the City in the form of tax revenues (including real property taxes and assessments, sales and use taxes, utility user taxes, transient occupancy taxes, City business license taxes, and 911 taxes), sales proceeds, ground rents, fees, exactions and other fiscal benefits; and 11.otherwise achieve the goals and purposes for which the Development Agreement Legislation was enacted. J.In exchange for the benefits to City described in the preceding Recital H, 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” (as defined herein), and therefore desires to enter into this Agreement. The Parties intend that the provisions of this Agreement related to vested rights and land uses will apply only to those portions of the Property that are conveyed to Developer in fee or by long-