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HomeMy WebLinkAboutItem 5.13 Amendment to the First Amended and Restated Community Benefit Program Agreement and the Amended and Restated Affordable Housing Assistance Agreement Agenda Item 5.13 STAFF REPORT CITY COUNCIL Page 1 of 5 DATE: July 21, 2026 TO: Honorable Mayor and City Councilmembers FROM: Colleen Tribby, City Manager SUBJECT: Amendment to the First Amended and Restated Community Benefit Program Agreement and the Amended and Restated Affordable Housing Assistance Agreement with The Related Companies of California for the Amador Station Project (PLPA-2021-00019) Prepared by: Jason Earl, Senior Management Analyst EXECUTIVE SUMMARY: The City Council will consider approving an amendment to the First Amended and Restated Community Benefit Program Agreement and the Amended and Restated Affordable Housing Assistance Agreement with The Related Companies of California LLC (Related) for the Amador Station project. Amador Station is a future 300-unit affordable housing development located on Golden Gate Drive adjacent to the West Dublin/Pleasanton BART Station within the Downtown Dublin Specific Plan area. Related is requesting an extension to the Residential Allocation Terms as they continue to pursue funding for the project. STAFF RECOMMENDATION: Adopt the Resolution Approving an Amendment to the First Amended and Restated Community Benefit Program Agreement and the Amended and Restated Affordable Housing Assistance Agreement Between the City of Dublin and The Related Companies of California LLC for the Amador Station Affordable Housing Project. FINANCIAL IMPACT: None. No new appropriations are associated with this amendment. 270 Page 2 of 5 DESCRIPTION: Background BRIDGE Housing originally received approval for a two-phase affordable housing project on the vacant 3.6-acre site located adjacent to the West Dublin/Pleasanton BART statio n as shown in Figure 1. The property is bound by I-580 to the south, the Avalon West project to the west, the Connolly Station project to the north, and Golden Gate Drive to the east. The project site is located in the Transit-Oriented District of the Downtown Dublin Specific Plan (DDSP). Figure 1. Location Map On September 21, 2021 the City Council approved a Community Benefit Program Agreement and Affordable Housing Assistance Agreement with BRIDGE Dublin LLC (BRIDGE) for the Amador Station project. BRIDGE subsequently assigned its rights with respect to the property to The Related Companies of California LLC (Related). On February 21, 2023, the City Council approved the First Amended and Restated Community Benefit Program Agreement (Attachment 4) and Amended and Restated Affordable Housing Assistance Agreement (Attachment 5) and transfer of the Agreements to Related. Among other things, these agreements address project phasing, the timing for allocating residential units from the DDSP Development Pool to the project, and the amount and timing of the City’s Affordable Housing Funds and Alameda County Measure A -1 Bond funds that will be allocated to the project. The unit allocation time periods could be extended by the City Manager for at least one additional year provided that Related showed due diligence in pursuing funding for the affordable housing 271 Page 3 of 5 project and applied for building permits for the subphase. Over the past several years, Related has been coordinating with the City on their funding efforts including the submittal of the Affordable Housing and Sustainable Communities (AHSC) grant applications. In addition, they have submitted building permits for Subphases A1 and A2. Upon completion of these milestones, Related requested an extension of the unit allocation to these subphases, and these extensions were granted. Table 1 shows the original expiration dates and the extensions granted. Table 1. Original Subphase Expiration Date and Extension Granted Subphase Original Expiration Date Extended Expiration Date A1 12/31/2024 12/31/2026 A2 8/21/2025 8/21/2027 B1 8/21/2026 N/A B2 8/21/2027 N/A As noted above, Related has been diligent in identifying and pursuing funding sources to begin construction of the project. They successfully secured additional funding from BART and from the Bay Area Housing Finance Authority. However, due to the competitive nature of funding for affordable housing projects and the current funding climate, they are still short of the funding needed to begin construction. Therefore, the current request is to amend the Amended and Restated Community Benefit Program Agreement and the Amended and Restated Affordable Housing Assistance Agreement to extend the Residential Allocation Terms and make corresponding adjustments to the timing for allocating the City’s Affordable Housing Funds and Measure A-1 Bond funds to the project. Analysis Residential Allocation Terms and Project Phasing Related is requesting to extend the unit allocation to allow additional time to obtain the funding needed to construct the project. They are also proposing to rename the project phases to increase clarity. Table 2 and Figure 2 show the proposed expiration dates and updated phasing names. Table 2. Phasing and Requested Expiration Date Former Subphase Renamed Phase Original Expiration Date Extended Expiration Date Requested Expiration Date A1 1 12/31/2024 12/31/2026 12/31/2028 A2 2 8/21/2025 8/21/2027 8/21/2029 B1 3 8/21/2026 N/A 8/21/2030 B2 4 8/21/2027 N/A 8/21/2031 272 Page 4 of 5 Figure 2. Phasing Plan Affordable Housing Fund The project phasing is the basis for allocating money from the City’s Affordable Housing Funds to the project. More specifically, the Affordable Housing Assistance Agreement states that the term of the $4.3 million predevelopment loan from the City’s Affordable Housing Fund is tied to the Residential Allocation Term for the second phase of the project. The proposed amendments would extend the loan term to be consistent with the revised Residential Allocation Term for Phase 2. Alameda County Measure A-1 Bond Fund $2.9 million of Alameda County Measure A-1 Bond funds specific to the City of Dublin are allocated for use in the first two phases of the project in the form of a loan. These funds must be used before the expiration of those funds. Alameda County extended the approval of the Measure A-1 funding reservation to April 22, 2027. However, the revised unit allocations for Phases 1 and 2 extend beyond that date. The Alameda County Housing Director may further extend the funding reservation period upon assurance by Related that the funding of the project is advancing in a manner that the Housing Director deems sufficient. However, the proposed amendments would allow the City to reallocate the A-1 Bond funds to a different affordable housing project, selected by the City, if Related does not or is otherwise unable to use these funds prior to the A -1 deadline established by the County. ENVIRONMENTAL REVIEW: 273 Page 5 of 5 The Project is located within the DDSP, which was the subject of an Environmental Impact Report (EIR), State Clearinghouse number 20100022005. The DDSP Final EIR was certified by City Council Resolution No. 08-11 dated February 1, 2011 and updated with addendums adopted by the City in Resolution No. 50-14, Resolution No. 126-19 and Resolution No. 79-20 (“Specific Plan EIR”). Pursuant to the California Environmental Quality Act (CEQA) Guidelines Section 15168, the Amendments to the First Amended and Restated Community Benefit Program Agreement and Affordable Housing Assistance Agreement are within the scope of the Project analyzed in the Specific Plan EIR and no further CEQA review or document is required. These Amendments do not impede, impair or otherwise seek to truncate or limit the City’s discretion in considering any future Project Approvals for conducting any future CEQA review as required by applicable law. STRATEGIC PLAN INITIATIVE: Priority 4: Housing Affordability Objective C: Proactively identify and facilitate opportunities to attract multi-family housing development on key sites. NOTICING REQUIREMENTS/PUBLIC OUTREACH: The City Council Agenda was posted, and a copy of this Staff Report was provided to the Applicant. ATTACHMENTS: 1) Resolution Approving an Amendment to the First Amended and Restated Community Benefit Program Agreement and the Amended and Restated Affordable Housing Assistance Agreement Between the City of Dublin and The Related Companies of California LLC for the Amador Station Affordable Housing Project 2) Exhibit A to the Resolution – Amendment to the First Amended and Restated Community Benefit Program Agreement Between the City of Dublin and The Related Companies of California LLC 3) Exhibit B to the Resolution – Amendment to the Amended and Restated Affordable Housing Agreement Between the City of Dublin and The Related Companies of California LLC 4) The First Amended and Restated Community Benefit Program Agreement Between the City of Dublin and The Related Companies of California LLC 5) Amended and Restated Affordable Housing Assistance Agreement Between the City of Dublin and The Related Companies of California LLC 274 Attachment 1 Reso. No. XX-26, Item X.X, Adopted XX/XX/2026 Page 1 of 2 RESOLUTION NO. XX – 26 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN APPROVING AN AMENDMENT TO THE FIRST AMENDED AND RESTATED COMMUNITY BENEFIT PROGRAM AGREEMENT AND THE AMENDED AND RESTATED AFFORDABLE HOUSING ASSISTANCE AGREEMENT BETWEEN THE CITY OF DUBLIN AND THE RELATED COMPANIES OF CALIFORNIA LLC FOR THE AMADOR STATION AFFORDABLE HOUSING PROJECT WHEREAS, BRIDGE Dublin LLC proposed to develop certain vacant property on Golden Gate Drive (APNs 941-2842-002-00 & 941-2842-004-00) (“the Property”), which is within the Transit Oriented District of the Downtown Dublin Specific Plan Area, and as part of its propo sal desired to develop 300 units of affordable housing on an approximately 3.6-acre site (“the Project”); and WHEREAS, on September 21, 2021 the City Council adopted Resolution No. 115-21 approving a Community Benefit Program Agreement and Affordable Housing Assistance Agreement with BRIDGE Dublin LLC; and WHEREAS, BRIDGE Dublin LLC has subsequently assigned its rights with respect to the Property to Related Companies of California LLC (“Developer”), and on February 21, 2023 the City Council adopted Resolution No. 17-23 approving a First Amended and Restated Community Benefit Program Agreement and Restated Affordable Housing Assistance Agreement between the City of Dublin and the Developer; and WHEREAS, despite diligent efforts the Developer has so far been unable to secure sufficient funding for the development of the Project; and WHEREAS, the Developer is requesting an extension to the Residential Allocation Terms, as set forth in Section 4.5 of the Community Benefit Agreement, Predevelopment Loan Term in Subsection 5(a)(iii) and County A-1 Bond Assistance in Subsection 6(c) of the Affordable Housing Assistance Agreement. Despite diligent efforts, Developer has been unsuccessful in securing sufficient funding to begin construction on Phase A (consisting of Subphases A-1 and A-2 and now referred to as Phase 1 and Phase 2). Developer has submitted for building permits and received extensions for the Term and Residential Allocations for Phase 1 and Phase 2; however, those extensions are nearing expi ration. Developer is also requesting corresponding extensions for Phase B (consisting of Subphases B -1 and B-2, now referred to as Phase 3 and Phase 4). Developer has not yet secured building permits or received extensions for the Term and Residential Allocations for Phases 3 and 4, and has not pursued building permits for those phases because it is focused on securing funding for and constructing Phases 1 and 2 before beginning work on Phases 3 and 4; and WHEREAS, the Parties desire to extend the term of the residential allocation as necessary to allow the Developer sufficient time to obtain funding and construct the Project on the Property . NOW, THEREFORE, BE IT RESOLVED that the Dublin City Council hereby approves the Amendment to the First Amended and Restated Community Benefit Program Agreement and the Amended and Restated Affordable Housing Assistance Agreement between the City of Dublin and The Related Companies of California LLC, attached as Exhibit A and Exhibit B to this Resolution (the “Amendments”). 275 Reso. No. XX-26, Item X.X, Adopted XX/XX/2026 Page 2 of 2 BE IT FURTHER RESOLVED that the City Manager is authorized to execute the Amendments, attached hereto as Exhibit A and Exhibit B, and make any necessary, non-substantive changes to carry out the intent of this Resolution. PASSED, APPROVED, AND ADOPTED BY the City Council of the City of Dublin, on this 21st day of July, 2026 by the following vote: AYES: NOES: ABSENT: ABSTAIN: ______________________________ Mayor ATTEST: _________________________________ City Clerk 276 1 AMENDMENT TO FIRST AMENDED AND RESTATED CITY OF DUBLIN COMMUNITY BENEFIT PROGRAM AGREEMENT WITH THE RELATED COMPANIES OF CALIFORNIA, LLC, Golden Gate Drive (APNs 941-2842-002-00 & 941-2842-004-00) This Amendment to the First Amended and Restated Community Benefit Program Agreement ("Amendment") is entered into on July 21, 2026 (the “Effective Date”), by and between the City of Dublin, a municipal corporation ("City"), and The Related Companies of California, LLC, a California limited liability company ("Developer"). City and Developer are, from time-to-time, individually referred to in this Agreement as a "Party," and are collectively referred to as “Parties.” RECITALS A. Developer’s predecessor, BRIDGE Dublin LLC, proposed to develop certain vacant property on Golden Gate Drive (APNs 941-2842-002-00 & 941-2842-004-00) within the Specific Plan Area (“the Property”), which is within the Transit Oriented District of the Specific Plan Area, and as part of its proposal desires to develop 300 units of affordable housing on an approximately 3.6-acre site (“the Project”). B. BRIDGE Dublin LLC and the City entered into a Community Benefit Program Agreement dated as of September 21, 2021 (the “Original Agreement”) which sets forth certain community benefits to be provided by BRIDGE Dublin LLC in connection with the development of the Property. C. BRIDGE Dublin LLC subsequently assigned its rights with respect to the Property to Developer. The City and Developer entered into a First Amended and Restated Community Benefit Program Agreement on February 21, 2023 (as amended and restated, the “Agreement”). D. Developer has diligently pursued financing for the Project, including applications for available public funding sources, and requires additional time to complete the financing and commence construction. E. Developer is requesting an extension of the Residential Allocation Terms set forth in Section 4.5 of the Agreement for each phase of the Project. Phase 1 and Phase 2 are currently subject to previously approved extensions that are nearing expiration. Developer also seeks corresponding Residential Allocation Terms for Phase 3 and Phase 4 to reflect the revised phasing and anticipated development schedule for the Project. Attachment 2 Exhibit A to the Resolution 277 2 F. The Parties desire to extend the term of the residential allocation as necessary to allow the Developer sufficient time to obtain funding and construct the Project on the Property. NOW, THEREFORE, with reference to the foregoing recitals and in consideration of the mutual promises, obligations and covenants herein contained, City and Developer agree as follows: AGREEMENT 1. Amendment to Residential Allocation Term and Extensions. Subsection 4.5 of the Agreement is hereby amended to read as follows: 4.5 Residential Allocation Terms and Extensions. The terms of the Residential Allocations pursuant to this Section 4 (“Residential Allocation Term”) shall expire on the following dates: 4.5.1 Phase 1 Residential Allocation Term: December 31, 2028. If Developer is unable to utilize Measure A-1 financing, Developer may submit an updated financing plan that does not include Measure A-1 funds. Provided the City Manager reasonably determines that the revised financing plan demonstrates a viable path to financing and development of Phase 1, the Residential Allocation Term shall remain in effect through December 31, 2028 (and thereafter remain eligible for extensions pursuant to Section 4.5). 4.5.2 Phase 2 Residential Allocation Term: August 21, 2029. 4.5.3 Phase 3 Residential Allocation Term: August 21, 2030. 4.5.4 Phase 4 Residential Allocation Term: August 21, 2031. Notwithstanding the foregoing, upon the written request of Developer to City for an extension of one or more of the Residential Allocation Terms for a period of one or more years, City Manager shall not unreasonably disapprove such request if the City Manager finds, in his or her reasonable discretion, all of the following: (i) Developer has diligently applied for funding reasonably available for the applicable Phase in accordance with a financing plan reasonably acceptable to the City Manager, and (ii) Developer has obtained City approval of, or has submitted a complete application for, building permits for the applicable Phase (as shown on the revised Exhibit A) (the “Extended Residential Allocation Date”). 2. Renaming of Project Phases. a. All references in the Agreement to Phase A-1 shall be revised to Phase 1. 278 3 b. All references in the Agreement to Phase A-2 shall be revised to Phase 2. c. All references in the Agreement to Phase B-1 shall be revised to Phase 3. d. All references in the Agreement to Phase B-2 shall be revised to Phase 4. e. All references in the Agreement to Phase A shall be revised to Phases 1 and 2. f. All references in the Agreement to Phase B shall be revised to Phases 3 and 4. 3. No Other Amendments. Except as amended by this Amendment, the Agreement shall continue unmodified and in full force and effect. All terms not separately defined herein shall have the meanings as defined in the Agreement. IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be executed as of the date set forth above. CITY: City of Dublin, a municipal corporation _________________________________ Colleen Tribby, City Manager Attest: _________________________________ Marsha Moore, City Clerk Approved as to form _________________________________ John D. Bakker, City Attorney DEVELOPER: The Related Companies of California, LLC, a California limited liability company By: Name:Ann Silverberg Title: Vice President 279 1 AMENDMENT TO AMENDED AND RESTATED AFFORDABLE HOUSING ASSISTANCE AGREEMENT Amador Station Housing Project This Amendment to the Amended and Restated Affordable Housing Assistance Agreement ("Amendment") is entered into as of July 21, 2026 (the “Effective Date”), by and between the City of Dublin, a municipal corporation ("City"), and The Related Companies of California, LLC, a California limited liability company ("Developer") (collectively, the “Parties”). RECITALS A. Developer and City have entered into an Amended and Restated Affordable Housing Assistance Agreement ("Agreement") dated February 21, 2023, with respect to the Developer’s Amador Station four-phase housing development project (the “Projects”). B. Developer and City desire to make certain changes to the Agreement to conform with changes which are concurrently being made to the Amended and Restated Community Benefit Agreement between the Parties with respect to the Projects. NOW, THEREFORE, City and Developer agree as follows: 1. Amendment to Predevelopment Loan Term. Subsection 5(a)(iii) of the Agreement is hereby amended to read as follows: iii. The term of the Predevelopment Loan will be equal to the later of (i) the Phase 2 Residential Allocation Term pursuant to Section 4.1 of the First Amended and Restated Community Benefit Program Agreement, or (ii) the Extended Residential Allocation Date for Phase 2 pursuant to Section 4.5 of the First Amended and Restated Community Benefit Program Agreement, as amended by the Amendment to the First Amended and Restated Community Benefit Program Agreement dated July 21, 2026, if applicable. To the extent the term stated herein conflicts with any of the Predevelopment Loan documents, the term as set forth herein shall prevail. 2. Amendment to Residential Allocation Term and Extensions. Subsection 6(c) of the Agreement is hereby amended to read as follows: c. In the event that (a) Developer does not or is otherwise unable to commence construction on the Phase 1 Project prior to the end of the Phase 1 Residential Allocation Term or the Extended Residential Allocation Date for Exhibit B to the Resolution Attachment 3 280 2 Phase 1, if applicable, as those dates are established pursuant to the Community Benefit Agreement as amended by the Amendment to the First Amended and Restated Community Benefit Program Agreement dated July 21, 2026, or (b) Developer does not or is otherwise unable to close the County A1 Bond Program loan for the Phase 1 Project prior to the deadline for closing such loan, as established by the County of Alameda including any extensions to the deadline by the County of Alameda, the City may reallocate the $2,900,000 share of the County A1 Bond Program funds to a different affordable housing project selected by the City in its sole discretion. 3. Renaming of Project Phases. a. All references in the Agreement to Phase A-1 shall be revised to Phase 1. b. All references in the Agreement to Phase A-2 shall be revised to Phase 2. c. All references in the Agreement to Phase B-1 shall be revised to Phase 3. d. All references in the Agreement to Phase B-2 shall be revised to Phase 4. e. All references in the Agreement to Phase A shall be revised to Phases 1 and 2. f. All references in the Agreement to Phase B shall be revised to Phases 3 and 4. 4. No Other Amendments. Except as amended by this Amendment, the Agreement shall continue unmodified and in full force and effect. All terms not separately defined herein shall have the meanings as defined in the Agreement. 281 3 IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be executed as of the date set forth above. CITY: City of Dublin, a municipal corporation _________________________________ Colleen Tribby, City Manager Attest: _________________________________ Marsha Moore, City Clerk Approved as to form: _________________________________ John D. Bakker, City Attorney DEVELOPER: The Related Companies of California, LLC, a California limited liability company By: Name:Ann Silverberg Title: Vice President 282 DocuSign Envelope ID: DFFF789D-8DB0-47A7-A857-6644AEDEAC7B FIRST AMENDED AND RESTATED CITY OF DUBLIN COMMUNITY BENEFIT PROGRAM AGREEMENT THE RELATED COMPANIES OF CALIFORNIA, LLC, Golden Gate Drive (APNs 941-2842-002-00 & 941-2842-004-00) This First Amended and Restated Community Benefit Program Agreement (as amended and restated, the "Agreement") is entered into on February 21 . 2023 (the "Effective Date"), by and between the City of Dublin, a municipal corporation ("City"), and The Related Companies of California, LLC, a California limited liability company ("Developer"). City and Developer are, from time-to-time, individually referred to in this Agreement as a "Party," and are collectively referred to as "Parties." RECITALS A. On February 1, 2011, the City adopted Resolution No. 9-11 establishing a "Downtown Dublin Specific Plan" (the "Specific Plan"), which sets forth a comprehensive set of guiding principles, standards, and design guidelines for the implementation of future development in Downtown Dublin ("the Specific Plan Area"). B.The Specific Plan regulates the density of development allowed in the Specific Plan Area by establishing a "Base Floor Area Ratio (FAR)" for development in each of the three districts within the Specific Plan Area. C.The Specific Plan also establishes a pool of additional development potential, in the form of 1,320,220 square feet of non-residential development, 150 hotel rooms and 2,500 residential dwelling units (collectively "the Excess Capacity") apportioned among the three districts in the Specific Plan Area. The pool can be used by developers that wish to develop a project that exceeds the Base FAR up to a defined "Maximum FAR" and by developers that wish to develop residential dwelling units. Developers wishing to utilize said Excess Capacity must participate in the Community Benefit Program and enter into a Community Benefit Program Agreement with the City. D.Developer's predecessor, BRIDGE Dublin LLC, proposed to develop certain vacant property on Golden Gate Drive (APNs 941-2842-002-00 & 941-2842-004-00) within the Specific Plan Area ("the Property"), which is within the Transit Oriented District of the Specific Plan Area, and as part of its proposal desires to develop 300 units of affordable housing on an approximately 3.6-acre site ("the Project"). In exchange for requesting residential units from the Downtown Dublin Specific Plan Development Pool to enable development of the Project, BRIDGE Dublin LLC proposed to provide a 300-unit affordable housing project built in two phases (with two subphases per phase), with certain units to be furnished, a ground floor cafe or similar use within the Project, plaza enhancements to the West Dublin/Pleasanton BART connection, and "affordable unit credits" as further set forth below ("the Community Benefit"). E. A Site Development Permit for the Property was approved by the Planning Commission on August 10, 2021. In addition, BRIDGE Dublin LLC and the City entered into a Community Benefit Program 1 Attachment 4 283 284 285 286 287 288 289 290 291 DocuSign Envelope ID: DFFF789D-8DB0-47A7-A857-6644AEDEAC7B AMENDED AND RESTATED AFFORDABLE HOUSING ASSISTANCE AGREEMENT Amador Station Housing Project Attachment 5 This Amended and Restated Affordable Housing Assistance Agreement ("Agreement") is made and entered as of February 21 , 2023, by and between the City of Dublin ("City") and The Related Companies of California, LLC, a California limited liability company ("Developer"). RECITALS A.Developer proposes to develop approximately 3.59 acres of vacant property located on the west side of Golden Gate Drive, north of Interstate 580, in the City of Dublin, designated as APN Nos. 941-2842-002-00 and 941-2842-004-00 (the "Property"). The Property is or will be divided into two portions designated as the "Phase A Site" and the "Phase B Site." B. Developer intends to develop the Property in four phases, with approximately 164 apartment units to be constructed on the Phase A Site in the aggregate across two subphases, and approximately 136 apartment units to be constructed on the Phase B Site in the aggregate across two subphases. C.City and BRIDGE Dublin LLC, a California limited liability company ("Original Developer"), have entered into a "Community Benefit Agreement" with respect to the Community Benefits to be provided by Original Developer in connection with the Property. Pursuant to the Community Benefit Agreement, City and Original Developer have entered into an Affordable Housing Assistance Agreement dated as of September 21, 2021 with respect to the affordable housing obligations of each party for the Property ("Original Agreement"). D.Original Developer has assigned its rights with respect to the Property and the Projects to Developer. City and Developer have entered into a First Amended and Restated Community Benefit Program Agreement, dated concurrently with this Agreement, which amends and restates the parties' obligations pursuant to the Community Benefit Agreement. E.By this Agreement, City and Developer intend to amend and restate the Original Agreement, which shall be superseded by this Agreement and shall be of no further force or effect hereafter. NOW, THEREFORE, with reference to the foregoing recitals and in consideration of the mutual promises, obligations and covenants herein contained, City and Developer agree as follows: 1.Acquisition of Leasehold Interests. Developer will negotiate in good faith towards a Purchase and Sale Agreement and Joint Escrow Instructions for the assignment to Developer oflong-term leasehold rights to the Property, consisting of the lessee's rights under the Ground Lease between the San Francisco Bay Area Rapid Transit District ("BART") as lessor and CREA/Windstar Dublin 2.43 Acres, LLC, as lessee, dated March 10, 2006, as 1 292 293 294 295 296 297 298 299 300 301