Lewis Acquisition Company Reimbursement Agreement 20230602

Home

H. The City determined that the Project presents certain public benefits and opportunities which are advanced by City and Kaiser entering into the Development Agreement, including (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. I. 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, Kaiser received by the Development Agreement assurance that it may proceed with the Project in accordance with the “Applicable Law” (as defined in the Development Agreement), and therefore entered into the Development Agreement. J. Per Development Agreement Section 8.01, “Developer may transfer and assign all or any portion of its interests, rights or obligations under this Agreement, the Project Approvals or Subsequent Approvals to third parties acquiring an interest or estate in the Project Site or any portion thereof including, without limitation, purchasers or ground lessees of lots, parcels or facilities.” K. Lewis Group intends on requesting to amend the Development Agreement in order to allow for a mix of development on the Retail Project Site that differs from what was outlined in the Development Agreement, as well as other potential changes to be determined (“Mixed Use Proposal”). L. Per Development Agreement Section 7.02.a, any Substantive Amendments to the development plan under the Project Approvals shall require approval of an amendment to the Development Agreement, with Substantive Amendments defined to include, among other things, the permitted uses on the Project Site and the density or intensity of use of the Project. M. Per Development Agreement Section 10.04, Kaiser (or its assignee) shall reimburse City for all of its reasonable and actual costs, fees and expenses incurred in drafting, reviewing, revising, processing and implementing the Development Agreement (including the conduct of the Periodic Review) and processing any future amendments, at such time as Kaiser (or its assignee) makes such formal request to the City to initiate the drafting and negotiation of any future Development Agreement amendments. NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS: 1. Reimbursement Costs. a. As the party that intends on requesting an amendment to the Development Agreement, Lewis Group shall be responsible for and shall pay the costs for all costs, fees, and expenses the City incurs in providing the services necessary and relating to the preliminary DocuSign Envelope ID: CE5BF197-2C9F-4CFB-A707-452BD5EBC70E