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<br />. <br /> <br />. <br /> <br />(iv) until commencement of the office tower, surface parking on the office tower pad as Phase II <br />(as defined in the Development Agreement). <br /> <br />5. The City and Owner additionally wish to amend the Development <br />Agreement to require Owner to pay the City $200,000.00 concurrently with the issuance of the <br />first building permit in full satisfaction of all Exhibit E EIR Mitigation Measures - Project <br />Impact Summary "Traffic and Circulation" mitigation measures other than Traffic and <br />Circulation Mitigation Measure Nos. I (TDM program) and 2 (bus turnout), and Exhibit E to the <br />Development Agreement EIR Mitigation Measures - Cumulative Impact Summary "Traffic and <br />Circulation" mitigation measures. <br /> <br />6. The City and Owner additionally wish to amend the Development <br />Agreement to permit the maximum density and intensity for the Property to be developed to <br />consist if a maximum of 280,000 square feet of commercial office space (of which up to 5,000 <br />may be ground floor retail/service), a 35,000 square foot health club, and 1,588 parking spaces to <br />be located in the detached parking structure or subterranean parking or surface parking on the <br />Phase II office pad prior to development thereof <br /> <br />7. The City and Owner additionally wish to amend the Development <br />Agreement to require Owner to add an additional $10,000.00 to the cost of the work of public art <br />to be placed on the Property, such that a total of $35,000.00 must be devoted to the work of <br />public art. <br /> <br />B. Finding' <br /> <br />The parties hereto acknowledge and find the following to be true: <br /> <br />I. This Amendment is intended to assure adequate public facilities at the <br />time of development. <br /> <br />2. This Amendment is intended to assure development in accordance with <br />City's General Plan, applicable Specific Design Zoning and Capital Improvement Plan. <br /> <br />3.. This Amendment will permit achievement of goals and objectives as <br />reflected in the City's General Plan and all applicable Specific Design Zoning. <br /> <br />4. Owner is required by existing City regulations to provide mitigation for <br />certain impacts and pay certain regulatory fees as conditions of approvals through the regulatory <br />process. <br /> <br />5. This Amendment will allow City to realize extraordinary and significant <br />public infrastructure tacilities and other supplemental benefits in addition to those available <br />through the existing regulatory process. <br /> <br />6. Many of the extraordinary and significant benefits identified as <br />2 <br />