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<br /> conditions of this Agreement Specifically,brut without lttnttrng the generality of the foregoing,
<br /> the.Cvurity has found and determined;that there are no sul stantxal chan— tri.this ,xx 7{ect'oiC,ti
<br /> the circumstances under vsrhtchtsrc� ept is01?�undtketiP� tg5ts; ,gr � '. a }' Ich
<br /> involve new :m aets�hote4t, 4dern s �. # x: ,, h� l
<br /> p ; a _o e ; r� >. . al siIs
<br /> is retlured urcler C1J( ALt co ect�on vvth� anl n' 9; A ?pyx, °� � ry ;
<br /> e�--
<br /> r z xi v f ryy_ t, ,j. ri Tfi7c' r
<br /> su6seer adltt}otta envl��letalanalNM- df¢�t�enta#ot y �l1
<br /> V'.aa ' 1"�`�
<br /> including mitigattori tnr Rese�rvd llscettonaxy3p �rs ;
<br /> - C
<br /> Recital M The Co xununity is bung provided vcrtth cert in,Ur�an�ei�vices t ougli the
<br /> County, the Mo tarn House Committti#y Services l]ts�t# of "MfTCS "} as efl asoilier ppalte
<br /> agencies and Financing Mechm
<br /> aniss The board dfe
<br /> '.go, rvtsors has previously autltoned and
<br /> executed, on behalf.of CQ:unty,a Ptrbl�c Services Allocation Ageernett "PSA Areernerit")with
<br /> the MHCSD. The PSA Agreement sets forth those puhu6-_seratI,.to structs re to be
<br /> provided by the NMCSD and those public services'and inft'asttucture Which`are,to Ere pra idezl
<br /> by the County and other public agcnces. The PSA Agreement has been deteirmtnei to`be
<br /> consistent with the Existing Approvals.
<br /> Recital N. The Existing Approvals implement the'goals and policies of the.County's
<br /> General Plan and provide balanced and diversified land uses within'the Property and the
<br /> Community in order to maintain the overall quality of life and quality of the environment within
<br /> the County. The Existing Approvals impose appropriate standards and requirements with respect
<br /> to land uses, building heights and densities,jobs/housing balance and the creation of job
<br /> opportunities through the construction and development of the Community, affordable housing,
<br /> traffic, bicycle, pedestrian, and transit improvements, habitat protection and enhancement, open
<br /> space and recreational amenities, educational and childcare facilities, utilities and
<br /> communication facilities, landscaping and signage as development of the Property proceeds, and
<br /> measures for mitigating adverse environmental impacts in the County and the surrounding
<br /> region. The County believes that the orderly development of the Community will provide many
<br /> public benefits to County through the imposition of the foregoing standards and requirements
<br /> under the terms and conditions of this Agreement, including, without limitation, increased tax
<br /> revenues resulting in fiscal benefits to County, installation of on- and off-site public
<br /> improvements, construction of beneficial industrial and commercial facilities at locations
<br /> serviced by major local thoroughfares and regional transportation systems, provision of a balance
<br /> between permanent employment opportunities and residential capacity within the County and the
<br /> region, and the creation of job opportunities through the construction and development of the
<br /> Property, and the location of businesses therein.
<br /> Recital O. Development of the Property requires substantial capitalexpenditures and
<br /> investments with respect to construction and installation of major infrastructure and facilities,
<br /> both on-site and off-site. Developer's major objectives in entering into this Agreement include,
<br /> but are not limited to/the following: to obtain a degree of certainty subject to the Existing
<br /> Approvals and the terms of this Agreement, with respect to the permitted land uses, densities,
<br /> and major infrastructure required for the Property, in order to allow Developer to undertake and
<br /> complete the planning, public and private financing and development of the Property, and to
<br /> protect the capital investments that will be made by Developer, lenders, bond purchasers and
<br /> w02-SP:FPD\6148114 5.2 -4-
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