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F. The City has conducted duly noticed public hearings on this proposed Development <br />Agreement pursuant to Government Code section 65867 and has found that the provisions of this <br />Development Agreement and its purposes are consistent with the objectives, policies, general land <br />uses and programs specified in the City's General Plan. <br /> <br /> G. The development of the Property has been found by the City to provide substantial public <br />benefit and helps attain certain public benefits, including, without limitation: <br /> <br /> (a) The development of a municipal golf course in Happy Valley; <br /> <br /> (b) The permanent protection of a wildlife habitat that contains endangered species; <br /> <br /> (c) The dedication to the public of significant acreage as permanent open space; <br /> <br /> (d) The dedication of land to the public for use as part of an extensive <br />pedestrian/equestrian trail system; <br /> <br /> (e) The opportunity for all existing residents of Happy Valley to have City sewer and <br />water service to their homes, upon their payment of the cost of design and construction of water and <br />sewer facilities on their private property, including the payment of their applicable connection fees. <br /> <br /> H. There exists certain development risks and uncertainties associated with the long-term <br />nature of the Development, including the cost responsibility for providing water and sewer <br />infrastructure to the existing Happy Valley residents, which could discourage and deter Developer <br />or any subsequent owner of the Property from making long term commitments necessary to fully <br />develop the Property. Therefore, the parties desire to enter into this Development Agreement in <br />order to reduce or eliminate uncertainties to such development over which the City has control. <br /> <br /> I. The Development and the uses that Developer proposes in connection with the Property <br />have been extensively reviewed and considered by the City and its officers and departments, and such <br />proposed Development and uses have been found to accommodate the City's recommendations and <br />suggestions in order to protect the public's interest and to enhance the desirability, from the public's <br />perspective, of such proposed Development and uses. <br /> <br /> J. The City recognizes that Developer may sustain substantial losses if the City were to <br />default in its obligations or commitments herein undertaken, including, without limitation, the <br />substantial investment made by Developer to plan and obtain entitlement for the Development. <br /> <br /> K. The City, by electing to enter into contractual agreements such as this one, acknowledges <br />that the obligations of the City shall survive beyond the terms of the present City Council members, <br />that such action will serve to bind the City and future City Councils to the obligations thereby <br />undertaken, and this Development Agreement shall limit the future exercise of certain governmental <br />and proprietary powers of the City. By approving this Development Agreement, the City Council <br /> <br /> <br />