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<br /> determined that the Project will have no significant adverse
<br /> effect on the environment, on the basis of which a negative
<br /> declaration was adopted by the City Council.
<br /> E. City has determined that the Project is a development
<br /> for which a development agreement is appropriate. A development
<br /> agreement will eliminate uncertainty in the City's land use
<br /> planning for and secure orderly development of the Project. A
<br /> development agreement shall facilitate the orderly expansion of
<br /> the Shopping Center through completion of the Project, which
<br /> shall provide greater opportunities for traffic management and
<br /> cohesive, attractive site design and improvements and result in
<br /> important economic benefits, both direct and indirect, to the
<br /> City. Developer will incur substantial contractual obligations
<br /> and related costs in the development of the Project, which will
<br /> require extended negotiations with and long lead-time commitments
<br /> from additional major department and specialty store participants
<br /> in the Shopping Center. In exchange for the benefits to the City
<br /> and the general public of the expanded Shopping Center, Developer
<br /> desires to receive assurance that City shall grant permits and
<br /> approvals required for the development of the Project in
<br /> accordance with the Existing City Laws, subject to the terms and
<br /> conditions contained in this Agreement. In order to effectuate
<br /> these purposes, the parties desire to enter into this Agreement.
<br /> F. On August 20, 1992, after conducting a duly noticed
<br /> public hearing, the City Planning Commission recommended that the
<br /> City Council approve this Agreement, based on the following
<br /> findings and determinations: that this Agreement is consistent
<br /> with the objectives, policies, general land uses and programs
<br /> specified in the City's General Plan; is compatible with the uses
<br /> authorized in and the regulations prescribed for the land use
<br /> district (C-R (Regional Commercial) ) in which the Property is
<br /> located; is in conformity with public convenience, general
<br /> welfare and good land use practices; will not be detrimental to
<br /> the health, safety and general welfare of the City or the region
<br /> surrounding the City; will not adversely affect the orderly
<br /> development of property or the preservation of property values
<br /> within the City; and will promote and encourage the development
<br /> of the Project by providing a greater degree of certainty with
<br /> respect thereto.
<br /> G. Thereafter, on September 15, 1992 , the City Council
<br /> held a duly noticed public hearing on this Agreement and made the
<br /> same findings and determinations as the Planning Commission. On
<br /> that same date, the City Council made a decision to approve this
<br /> Agreement by introducing Ordinance No. 1578 (the "Enacting
<br /> Ordinance") . on October 6, 1992, the City Council adopted the
<br /> Enacting Ordinance. The Enacting Ordinance became effective on
<br /> November 5, 1992 .
<br /> NOW, THEREFORE, pursuant to the authority contained in
<br /> Government Code Sections 65864-65869. 5, and in consideration of
<br /> the mutual covenants and promises of the parties herein
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<br /> RECOrIDERS MEMO ---.}
<br /> LENBILITY FOR NICPORt,ING MD
<br /> CPPY1')G tifh•APSFACrOry Pi .1 POHTION
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