ORD 2218 - Laserfiche WebLink

Section 1.02 Effective Date. This Agreement shall become effective upon the date that both the ordinance approving this Agreement becomes effective, and the ordinance approving the PUD Rezoning and Development Plan for the Project becomes effective (the"Effective Date"). Section 1.03 Term. The term of this Agreement shall commence on the Effective Date and extend ten(10)years thereafter(the"Term"). The City and Developer may extend the Term of the Agreement for up to an additional five(5)years. Article II. Standards,Laws and Procedures Governing the Project. Section 2.01 Vested Right To Develop. Developer shall have a vested right to develop the Project in substantial conformance with the terms and conditions of the Project Approvals, the Subsequent Approvals(defined below)(as and when issued),the Applicable Law(defined below) and amendments as shall,from time to time,be approved pursuant to this Agreement. Specifically, while Developer contemplates constructing the Project in accordance with the Project Design Review, Developer shall have the vested right to develop the Project with up to three buildings totaling approximately 381,062 square feet, the 6-story parking garage with 1,168 stalls, surface parking for 90 stalls, and related site improvements such as landscape modifications, stormwater treatment areas, and other related improvements in accordance with the PUD Rezoning and Development Plan referred to above. Section 2.02 Permitted Uses. The permitted uses and the density and intensity of use of the Project; the maximum height, bulk and size of the proposed buildings, provisions for reservation or dedication of land for public purposes and the location of public improvements; the general location of public utilities;and other terms and conditions of development applicable to the Project, shall be as set forth in the Project Approvals,as and when they are issued(but not in any limitation of any right to develop as set forth in the Project Approvals), and any Subsequent Approvals (defined below). Section 2.03 Applicable Law. "Applicable Law" shall mean the existing rules, regulations, official policies, standards and specifications governing permitted uses of the Project, governing density, and governing the design, improvements, and all other City regulations, and construction standards and specifications applicable to the Project as set forth in this Agreement and the Project Approvals, and in force and effect on the Effective Date. During the Term,to the extent there are any conflicts between the Project Approvals (including but not limited to conditions to any of the Project Approvals) and this Agreement, the terms and conditions of this Agreement shall govern. Section 2.04 Moratorium, Initiatives and Conflicting Enactments. To the extent consistent with state law (and excepting a declaration of a local emergency or state emergency as defined in Government Code §8558), if any ordinance, resolution or other measure is enacted subsequent to the Effective Date,whether by action of City,by initiative,referendum,or otherwise,that imposes a building moratorium, a limit on the rate of development, or a voter-approval requirement which would otherwise affect the timely development of the Project or Project Approvals or Subsequent 4412928 2 -3- June 5 2021