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E. The City, after meeting with members of the development <br />community, has adopted a Modified Growth Management Program for <br />developers with projects, such as this Project, with existing <br />growth management approval. <br />F. The goal of this program is to have the actual units <br />built in any year not to exceed that which is provided for in the <br />City's General Plan. <br />G. Developer desires to cooperate with the City in <br />carrying out this program because to do so will protect the <br />public health, safety and welfare. <br />NOW, THEREFORE, in consideration of the mutual promises <br />expressed herein, City and Developer hereby agree as follows: <br />I. GROWTH MANAGEMENT APPROVAL <br />A. City hereby grants growth management approval to the <br />Project for development according to the following schedule: <br />1994 30 units <br />B. As to these units, Developer designates the following <br />as production units and as custom lots: <br />Production Units: J?(~ <br />Custom Units: <br />C. Developer will use its best efforts to project actual <br />building starts, on a continuing basis, so the Council can gauge <br />actual construction when considering new approvals. In other <br />words, Developer must keep the City informed of its progress and <br />must apply to reallocate units if building permits for those <br />units are not obtained (or the public improvements for custom <br />lots are not completed) in the year so allocated. If a Developer <br />fails to apply for reallocation and building permits are not <br />obtained in the year in question (or the public improvements not <br />completed for custom lots), the Developer cannot obtain a <br />building permit until the Developer has reapplied for growth <br />management (under the Modified Program) and has been granted a <br />new year in which to obtain such permit. <br />- 2 - <br />