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construct the necessary traffic improvements. To that end, City staff negotiated with <br />Costco to fund the JDEDZ transportation improvements that resulted in the following <br />proposal to fund the 821.5 million in necessary transportation improvements associated <br />with the JDEDZ impacts: <br />Proposal to Fund JDEDZ Transportation <br />Improvements <br />Design & Construction Cost <br />(Excluding ROW costs not <br />Required for Stoneridge Dr & 1- <br />680 Onramp Project) $19,970,000 <br />Right of Way (ROW) Estimate <br />(Includes Costco ROW) 1,500.000 <br />Total Project Cost $21,470,000 <br />Cost Sharing Design and Percent <br />Construction Amount of Total <br />JDEDZ <br />Transportation Impact Fee (TIF) <br />(Stoneridge Drive &I-680 <br />Onramp Project only) _ <br />City Contribution through Sales <br />Tax Share - 60% to City and <br />40% to Costco @ 1.5% interest <br />$6,400,000 <br />6,785,000 <br />30% <br />34% <br />Costco Cash Contribution* <br />6,785,000 <br />34% <br />Total Funding Sources $19,970,000 <br />Right of Way (ROW) Cost Sharing Proposal <br />Costco Owned ROW Contributed to project at no charge <br />Remaining required ROW that is <br />not contributed to the project at <br />no charge Shared 50/50 with the City but Costco's portion will be added to <br />the $6,785.000 sales tax sharing agreement at no interest. <br />*Includes Costco $3.7M required TIF contribution that would be converted to a direct cash contribution to the <br />transportation improvements <br />Other: <br />construction contract for the transportation improvements. <br />for 44% of total daily trips at full build out and 78% of the trips in Phase 1. <br />Transportation fee to charge subsequent JDEDZ development to <br />portion of the costs to implement transportation improvements. <br />1. Costco will issue and manage the <br />2. Costco is estimated to be responsible <br />The City proposes to establish a JDEDZ <br />reimburse the City for fronting their <br />S6.4 Million TIF Funding <br />As previously discussed, the Stoneridge Drive and 1-680 onramp project has been included <br />in the City's TIF since 1998 and is eligible to receive approximately $6.4 million in TIF <br />revenues. The City's FY 2017/18 through 2020/21 Capital Improvement Program (CIP) <br />allocates $6.4 million in TIF in FY 2018/19 for the Stoneridge Drive and 1-680 onramp <br />project. <br />Page 11 of 16 <br />