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(iv) The proposed Development Agreement contains <br />matters required by California Government Code Section <br />65865.2 and the City's procedures and requirements for the <br />consideration of development agreements; <br />(v) The approval of and the City's entering into <br />the proposed Development Agreement will be in furtherance of <br />the purposes of the California Government Code in that such <br />Agreement will promote the orderly development of such prop- <br />erty, strengthen the public planning process, encourage <br />private participation in comprehensive planning and reduce <br />the economic costs of development; and <br />(vi) The proposed Development Agreement is <br />supported by adequate consideration from the Property Owner <br />in that the Property Owner among other things has agreed to <br />pay certain fair share impact fees to offset the impact of <br />the Property Owner's project on the City, which considera- <br />tion is in excess of what the Property Owner would otherwise <br />be required to provide to the City in connection with the <br />entitlements granted for the development of the subject <br />property. <br />SECTION 2. Approval. <br />The Development Agreement, a copy of which is <br />attached hereto as Attachment "A", is approved and the Mayor <br />and City Clerk are authorized to execute and deliver the <br />Development Agreement on behalf of the City. <br />-2- <br />