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WHEREA~, each of the Tri-Valley jurisdictions adopted the $oim Exercise of <br />Powers Agreement (JEPA) for the Tfi-Valley Transportation Development Fees <br />(TVTDF); and <br /> <br /> WHEREAS, all TVTC jurisdictions have resolved to cooperatively participate <br />and adopt uniform TVTD Fee rates; and <br /> <br /> WHEREAS, the TVTD Fee applies to new development in all seven-member <br />jurisdictions within the Tri-Valley area; and <br /> <br /> WHEREAS, revenues from the TVTD Fees are used to fund the regional <br />transportation improvements identified in the Tfi-Valley Transportation Plan/Action Plan <br />(TVTP/AP) and the Strategic Expenditure Plan (SEP); and <br /> <br /> WHEREAS, the TVTC commissioned a "fee ncxus study" in 1996 to establish <br />the TVTD Fee based on traffic impacts from new development and the costs for the <br />transportation improvcmcnts identified in the TVTP/AP; and <br /> <br /> WHEREAS, the adopted fee in 1998 for Office development was only 10.3% of <br />the resulting fee from the "fee nexus study" for this type of land use; and <br /> <br /> WHEREAS, the adopted fee in 1998 for Industrial development was only 11.5% <br />of the resulting fee from the "fee nexus study" for this type of land use; and <br /> <br /> WHEREAS, the 1-580/I-680 Interchange Improvements project is now complete; <br />and <br /> <br /> WHEREAS, the estimated total cost for the existing ten TVTDF projects has <br />increased by approximately 65%; and <br /> <br /> WHEREAS, the construction cost index for the San Francisco Bay Area has risen <br />by approximately 14% since the adoption of the TVTD Fee in 1998; and <br /> <br /> WIiEREAS, an estimated $10.20 million in cash flow deficit is anticipated to <br />occur by fiscal year 2009-10 based on the current expenditure plan and the scheduling <br />requirements of TVTDF projects; and <br /> <br /> WHEREAS, the gap between fee revenues and regional transportation <br />improvcment costs has left some projects unable to be fully funded, and will likely result <br />in the delayed delivery of these improvements; and <br /> <br /> WHEREAS, Subsection 13.b of the .IEPA specifies that for non--automatic <br />TVTD Fee adjustments agreed upon by the Parties, the amount of the adjustment shall be <br /> <br />Addendum I <br />3oint Exercise of Powers Agreement <br />TVTD Fees for Traffic Mitigation <br /> <br />Page 2 of $ <br /> 1/31/03 <br /> <br /> <br />