Common Contracts
1 similar Project Sponsor Agreement contracts
PROJECT SPONSOR AGREEMENTProject Sponsor Agreement • July 2nd, 2020
Agreement #: 2986 AGREEMENT BETWEENTHE CITY OF MENLO PARK AND SP MENLO, LLC THIS AGREEMENT made and entered into at Menlo Park, California, this 7/10/2020 , by and between the CITY OF MENLO PARK, a Municipal Corporation, hereinafter referred to as "CITY," and SP MENLO, LLC, hereinafter referred to as “FIRST PARTY.”. WITNESSETH: WHEREAS, SP Menlo, LLC, proposes to redevelop the property addressed 111 Independence Drive (Assessor’s Parcel Number 055-236-120), Menlo Park, with approximately 93,379 square foot, eight‐story multi‐family apartment building with 105 dwelling units. The site is currently developed with a 15,000 square‐foot single‐story office building, which would be demolished as part of the proposed project. The proposal includes a request for an increase in height, density, and FAR under the bonus level development allowance in exchange for community amenities and a density bonus under the City’s BMR Ordinance in exchange for onsite BMR units.The site is located within the
