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<br />. . <br /> <br />C. The city desires to enter into this Development <br />Agreement with Developer in order to facilitate the <br />development of certain property (the "Property") known as <br />"Lake Center Professional Office Park" (the "Development"), <br />more fully described in Exhibit A and shown on the map set <br />forth on Exhibit B, both attached hereto. Such development <br />shall be in accordance with (i) Specific Development Plan <br />No. 58, adopted by the same ordinance of the City which <br />approved this Development Agreement (the "plan") and (ii) <br />Existing Development Regulations (as defined below); provided <br />however, no use which is permitted only pursuant to the <br />issuance of a conditional use permit by the Plan shall be <br />considered part of the "Development" within the scope of this <br />Development Agreement. The City has given notice of its <br />intention to adopt this proposed Development Agreement, has <br />conducted public hearings thereon pursuant to Government Code <br />section 65867, and the city's Resolution No. 82-98 and has <br />found that the provisions of this Development Agreement and <br />its purposes are consistent with the objectives, policies, <br />general land uses and programs specified in the city's <br />General Plan, the Plan, and the Existing Development <br />Regulations. In connection with its approval of the <br />Development, a Final Environmental Impact Report ("EIR") was <br />prepared and certified by the city Council on Ddo (1,# 14 f, <br />Ii!irL . <br /> <br />D. Developer has engaged, prior to the date of this <br />Development Agreement, in substantial development activity on <br />the Property, and has completed approximately fifty percent <br />(50%) of the construction of the Development Plan. In the <br />course of this work, Developer has provided significant <br />public benefits and has invested substantial amounts of money <br />in reliance on project approvals. continued development of <br />the Property will require the construction of substantial <br />public improvements in various phases, many of which <br />improvements will benefit both the Development and <br />surrounding areas. certain development risks and <br />uncertainties associated with the long term nature of the <br />Development, including the cost of the portion of these <br />public improvements, could discourage and deter Developer <br />from making the long term commitments necessary to fully <br />develop the Property; therefore, the parties desire to enter <br />into this Development Agreement in order to reduce or <br />eliminate uncertainties to such development over which the <br />City has control. <br /> <br />E. As permitted by law, the city and Developer <br />desire to establish design and development standards for the <br />entire build-out period of the Development, including all <br />phases thereof, the permitted uses for the Development, and <br />to identify the scope of public infrastructure improvements <br />to be required for and as a result of the Development. <br /> <br />OCll\DEC\CAL-PAC\CAL-PAC.AG4 2 <br />