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two-story health club; (iii) addition of 290 parking spaces to the existing parking structure; and (iv) until commencement of the office tower, surface parking on the Office tower pad as Phase II (as defined in the Development Agreement). 5. The City and Owner additionally wish to amend the Development Agreement to require Owner to pay the City $200,000.00 concurrently with the issuance of the first building permit in full satisfaction of all Exhibit E ELK Mitigation Measures - Project Impact Summary "Traffic and Circulation" mitigation measures other than Traffic and Circulation Mitigation Measure Nos. 1 (TDM program) and 2 (bus turnout), and Exhibit E to the Development Agreement ELK Mitigation Measures - Cumulative Impact Summary "Traffic and Cimulation" mitigation measures. 6. The City and Owner additionally wish to amend the Development Agreement to permit the maximum density and intensity for the Property to be developed to consist ifa maximum of 280,000 square feet of commercial office space (of which up to 5,000 may be ground floor retail/service), a 35,000 square foot health club, and 1,588 parking spaces to be located in the detached parking structure or subterranean parking or surface parking on the Phase II office pad prior to development thereof 7. The City and Owner additionally wish to amend the Development Agreement to require Owner to add an additional $10,000.00 to the cost of the work of public art to be placed on the Property, such that a total of $35,000.00 must be devoted to the work of public art. B. Findings The parties hereto acknowledge and find the following to be true: 1. This Amendment is intended to assure adequate public facilities at the time of development. 2. This Amendment is intended t0~assure development in accordance with City's General Plan, applicable Specific Design Zoning and Capital Improvement Plan. 3.. This Amendment will permit achievement of goals and objectives as reflected in the City's General Plan and all applicable Specific Design Zoning. 4. Owner is required by existing City regulations to provide mitigation for certain impacts and pay certain regulatory fees as conditions of approvals through the regulatory process. : 5. This Amendment will allow City to realize extraordinary and significant public infrastructure facilities and other supplemental benefits in addition to those available through the existing regulatory process. 2 EXItlBIT 1 Ordinance No. NS-2518 :