PC 2000-49 - Laserfiche WebLink

neighborhood park exceed Six Hundred Fifty Thousand Dollars ($650,000), any excess shall be deducted from the "Final Park Fee Payment, (as, defined below). Property Owner shall pay the City its remaining park fees in the amour of. Seven:Hundred Eighty Nine Thousand Dollars ($789,000) (the "Final Park Fee Payment") concurrently with the close of escrow of the final single family dta~ched market rate residential unit in the Project. [Still under diseussion.] 3.5 Affordable Honsini Prom. The rights and obligations of the Property Owner with respect to the affordable housing component of the Project are set forth in the Affordable Housing Ag~-ment. The Affordable Housing Agreement includes the parties' understanding regarding the extent to which affordable housing units are subject to any public facilities, traffic development, affordable housing or other City fees. 3.6 Local Transnortation Imorovements and Fee Program [Still l~ing discussed.] (a) ~Ili~I~!3l~l~ia~. The Bernal Interchange improvements shall be funded in accordance with the Initial Project Approvals, including the Bemal Interchange Construction and Reimbursement Agreement. Property Owner's total obligation for Bemal Interchange improvements including items identified in Exhibit , attached hereto and incorporated herein by reference, shall not exceed Fifteen Million Dollars ($15,000,000). The funding mechanism shall provide for Property Owner to fund improvements such funding not to exceed Fifteen Million Dollars ($15,000,000). The Project shall not have to pay any City Traffic Development Fees ("TDF"). If funds advanced exceed the Project's total City TDFs described above, the Property Owner shall be allowed a reimbursement as described below. Improvements include the following: (i) Signalize the 1-680 southbound ramp intersection, at such time as the imersection meets traffic signal warrants and development of the Project occurs on the Central or Western Areas. Provide lane-widening, median-reconfignration' and re-striping betvmen the northbound and southbound off-ramp intersections to accommodate the configuration shown in Exhibit 15; Bernal Avenue Improvements of the PUD. (ii) Reimburse the developer of the northbound on- and off-ramp traffic signal for $__ of the costs associated with that signal installation, with reimbursement due upon issuance of the first building permit for a development project on the Central Area. Funds may be allocated towards this obligation as established in the agreement described above. (iii) Provide ultimate improvements to the northbound on-ramp and southbound off-ramp, as such improvements may be designed and approved by Caltrans, (iv) The City shall attempt to phase interchange improvements in such a manner as to maintain LOS "D" at intersections and ramps while making incremental improvements to the interchange. (v) Interchange improvements shall be undertaken by the City or others from Caltran's initial review through design and consU'uction. The Property Owners obligation shall solely be to fund the improvements done by others. 356~0/84937~V5 - 12 - 0~04~00