SAFEWAY COST REIMBURSEMENT 1999 - Laserfiche WebLink

. ~ i Recording requested by and after recording return to: Safeway Inc. 5918 Stoneridge Mall Road Pleasanton, CA 94588 Attn: Real Estate Law COST REIMBURSEMENT AGREEMENT ~~- THIS AGREEMENT ("Agreement") is entered into this ~ ~ day of ,~; , 199p8,~ by and between the CITY OF PLEASANTON, a municipal corporation ("City^)- "AFEWAY INC. ("Developer"). RECITALS A. Developer is the owner of certain real property located in the City of Pleasanton, County of Alameda, State of California, commonly known as 5900, 5906, 5912, 5918, 5920, 5930 and 5940 Stoneridge Mall Road, consisting of approximately 13.07 acres ("Property"), legally described in the attached Exhibit A. B. Pursuant to Planning Commission Resolution No. PC-98-57, dated July 22, 1998, Developer has received design review approval for an expansion of the Safeway headquarters facility, totaling approximately 209,000 square feet ("Project"). C. In connection with the development of the Property, Developer intends to fund the City's design and construction of a minimum six foot (6'0") wide public sidewalk located along the northwesterly and northerly sides of Stoneridge Mall Road from the Property to the existing sidewalk in front of the Stoneridge Corporate Plaza development located on the northeast corner of Stoneridge Mall Road and Embarcadero Court (collectively, "Improvements"), that will benefit the Property and other nearby properties as more fully described below. The Improvement will contain supplemental size and capacity in order to benefit the project and other anticipated development on nearby properties. D. Pursuant to Condition No. 9 of the Conditions of Approval of Z-98-71, the Developer was required to fund the Improvements. Condition No. 9 further provides that reimbursement from other benefiting properties will be provided to the Developer. E. Pursuant to the Conditions of Approval, Developer is entitled to reimbursement for that portion of the Improvements which it funds in excess of that required for the Project ("Reimbursable Costs"). The City agrees to administer the reimbursement to the Developer as set forth herein.