ORD 1792 - Laserfiche WebLink

F. The NSSP, the NSSP-EIR, the Concept Development Plan/Planned Unit Development Plan for a total of 48 dwelling units, as approved by the City Council on ., 199_, and the zoning designations of the Subject Property as Planned Unit Development, and this Agreement, are collectively referred to herein as the "Existing Approvals". G. In 1998 City approved a Specific Plan (the "HVSP") for the Happy Valley Specific Plan Area CHVSPA") pursuant to an Environmental Impact Report (the "HVSP EIR"). The HVSP provides for, inter alia, annexation of certain properties into the City. The City desires to obtain certain benefits for existing residents of the HVSPA in connection with Developer's implementation of the Project. H. The purpose of this Agreement is to facilitate the implementation of the NSSP through the development of the Project, thereby realizing the public benefits to City and private benefits to Developer described in these Recitals. The development of the Project requires a major investment by the Developer in public facilities, substantial front-end investment in on-site and off- site improvements, dedications of land, participation in other programs for public benefit and purposes, and substantial commitments of the resources to achieve both private benefits of the Project for the Developer and the public purposes and benefits of the Project for the City. The Developer will be unable to make and realize the benefits from such commitments of land and resources without the assurances of a realized Project provided by this Agreement. I. The City Council has found that, among other things, this Agreement is consistent with its General Plan; that this Agreement is compatible with the uses authorized in, and the regulations prescribed for, the NSSP; that this Agreement is in conformity with public convenience, general welfare and good land use practice; that this Agreement will not be detrimental to the health, safety, or general welfare; that this Agreement will promote the City's Housing Element goals and policies of encouraging diversified housing opportunities; and that this Agreement will not adversely affect the orderly development of property or the preservation of property values. J. Developer is willing, pursuant to the terms of this Agreement, to make expenditures and provide benefits to the City, including, without limitation, contribution to construction of a portion of the East-West Collector Street referred to in the NSSP (which ties into the By-Pass Road referred to in the HVSP at the easterly end of the Project), and to the construction and/or funding of infrastructure costs for existing residents in the HVSPA. K. City desires the timely, efficient, orderly and proper development of said Project. City believes it is in the public interest to provide for the vesting of Developer's rights to develop the Project in conformance with the Existing Approvals and the terms and conditions contained herein so that such vested rights shall not be disturbed by changes in laws, rules or regulations, including measures passed by initiative, that occur after the date of execution hereof. -2 - 10/21/99