PROJECT SPONSOR AGREEMENTProject Sponsor Agreement • May 15th, 2020
Contract Type FiledMay 15th, 2020Agreement #: 2961 AGREEMENT BETWEENTHE CITY OF MENLO PARK AND UPTOWN MENLO PARK VENTURE, LLC 5/15/2020 THIS AGREEMENT made and entered into at Menlo Park, California, this , by and between the CITY OF MENLO PARK, a Municipal Corporation, hereinafter referred to as "CITY," and UPTOWN MENLO PARK VENTURE, LLC, hereinafter referred to as “FIRST PARTY.”. WITNESSETH: WHEREAS, Uptown Menlo Park Venture, LLC, on behalf of Greystar, proposes to redevelop the property addressed 141 Jefferson Drive/172 Constitution Drive, 180 Constitution Drive, 186-188 Constitution Drive (Assessor’s Parcel Number 055-242-140, 055-242-030, 055-242-040), Menlo Park, with approximately 483 multi-family dwelling units (42 condominium units and 441 rental units) split between two apartment buildings with above grade two-story parking garages integrated into the proposed seven-story buildings. The project sites currently contain two single-story office buildings that would be demolished. The proposal includes a