ORD 2134 - Laserfiche WebLink

with CEQA, on the specific subject matter of the Subsequent Approval, and the City shall conduct such CEQA review as expeditiously as possible. ARTICLE 3 Developer Obligations Section 3.1 Obligations of Developer Generally. The parties acknowledge and agree that City's agreement to perform and abide by the covenants and obligations of City set forth in this Agreement is a material consideration for Developer's agreement to perform and abide by its long term covenants and obligations, as set forth herein. Section 3.2 City Development Fees and Exactions. Notwithstanding any provision herein to the contrary, Developer shall pay to City,in accordance with and subject to this Article 3, only those types and amounts of development impact fees and exactions, and other building permit and development-related fees, which are in effect as of the Effective Date. Included within attached DA Exhibit C is a complete list of the types and amounts of City development impact fees and exactions applicable to the Project(including those set forth below in this Article 3) (collectively, "City Impact Fees"), as well as a complete list of all other building permit and development-related fees applicable to the Project and collectible by City (for City's own account or on account of other agencies asset forth in Section 188) (all such other fees collectible by City for its own account are hereafter referred to collectively as "Other City Fees"). During the Tern,Developer shall pay only those periodic cost of living or similar indexed increases, decreases or adjustments in effect as of the Effective Date to City Impact Fees and Other City Fees. Developer may defer payment of City Impact Fees and Other City Fees until issuance of certificates of occupancy. An estimate off all City Impact Fees and Other City Fees is attached as DA Exhibit D. Section 3.3 Lower Income Housing Fee and Affordable Housing Contribution. Developer shall enter into an Affordable Housing Agreement (AHA) with the City that obligates Developer to pay the Lower Income Housing Fee in in amount of Eleven Thousand Two Hundred and Twenty Eight Dollars($11,228.00)for each housing unit included in the Project (which would result in a total$482,804.00 upon the issuance of the 43rd building permit for the Project). As consideration for the benefits of this Agreement, in addition to the Lower Income Housing Fee payment, Developer shall pay an affordable housing contribution in the amount of Twenty Three Thousand and One Hundred and One Dollars ($23,101.00) for each housing unit included in the Project(which would result in a total $993,344.00 upon the issuance of the 43rd building permit for the Project)(the "Affordable Housing Contribution"). The Lower Income Housing Fee shall be in-lieu of Developer providing affordable housing units on-site or off- site. The Affordable Housing Contribution shall provide additional support for affordable housing programs in the City in excess of that required by the Municipal Code Section 17.40.080.E. Consistent with Municipal Code Section 17.40.100, Lower Income Housing Fee and the Affordable Housing Contribution shall be paid at the time of issuance of a building permit for a residential unit. Notwithstanding Section 3.2 above, in no event shall the AHA permit adjustments to the Lower Income Housing Fee or Affordable Housing Contribution applicable to the Project through periodic cost of living or similar indexed increases. 6