ORD 1597 - Laserfiche WebLink

B. Recognizing (i) the traffic improvements completed to date and (ii) City policy to equitably spread the cost of traffic mitigation measures on a pro-ram basis over properties benefitting therefrom, and to ensure adequate provision for completion of additional tnffic mitigation improvements which may be made necessary by future development within the Property, further traffic mitigation improvements shall be required as follows: 1 ) Each parcel within the Property, along with all other North Platon properties, shall be responsible for its pro rata share of the one remaining unfunded traffic improvement currently planned for, and made necessary by, North Pleasanton development -- the W. Las Positas interchange improvements. Participation in the funding of this interchange shall generally be in accordance with the NPID #3 rules for detexnfining benefitted properties and method of spread of costs. These rules generally exclude residential properties, parcels less than two acres in size, propertin which were developed prior to approval of the major North Pleasanton projects, those properties (or portions thereof) which by existing agreement with the City are excluded from participation in NPID/'3, and those properties owned by public agencies (such as BART, Zone 7, etc.); these rules also spread intexchange benefits equally on an acreage basis throughout the benefitting areas. Such participation in this funding shall occur when the City determines it is necessary to avoid congestion greater than its General Plan standard. The total obligation of each parcel within the Property under this subsection shall not exceed such parcel's pro rata share of the lesser of the actual costs incurred for the W. Las Positas interchange improvements, or $9.8 n~illion. The $9.8 million is in 1993 dollars and shall be adjusted annually using the Engineering Record News Construction Cost Index, San Francisco Region, or comparable index. 4