ORD 1597 - Laserfiche WebLink

2) Each parcel within the Property, along with all other North Pleasanton properties, shall also be responsible 'for its pro rata share of presently unforeseen traffic mitigation improvements within the North Pleasanton area benefiting and/or made necessary by North Pleasanton development. Participation in the funding of these unforeseen improvements shall generally be in accordance with the NPID #3 rules for determining benefitted properties and method of spread costs as described in subsection B(1) above. The total obligation of each parcel within the Property under this subsection shall not exceed such parcel's pro rata share of $1 million worth of additional traffic improvements in excess of the funds (approximately $3 million) curren~y in the NPID #1 Improvement Funds and available for further traffic improvements in the North Pleasanton area. The owners of each parcel within the property agree that the excess funds in the NPID #1 improvement funds shall remain available for future traffic improvements, and they agree not to request and/or participate in any effort to refund said excess funds. The $1 willion is in 1993 dollars and shall be adjusted annually using the Engineering Record News Consu'uction Cost Index, San Francisco Region, or comparable index. 3) The patties agree that the "Local Rules" in the respective Development Agreements permit the City to levy a regional traffic impact fee upon developments in the Property should the City determine such a fee is necessary. 4) The parties further agree that the above listed obligations are consistent with the "Local Rules" and "Limitations on Obligation to Fund Additional Mitigations" in the respective Development Agreements and, except as clarified herein, those limitations remain in full force and effect. Furthermore, the parties agree that, except as provided in this section, no further site specific traffic studies or mitigation improvements shall be required of new 5