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remaining 56% of the total trips. However, because Costco would the first development to <br />occur in the JDEDZ and the transportation improvements have to be completed before <br />Costco can become operational, the City and Costco are covering 100% of the non -TIF <br />portion of the transportation improvements project costs. The City is picking up <br />approximately 89%4 of the transportation improvements associated with the non -Costco <br />land uses through the proposed sales tax sharing agreement with Costco. <br />The table below summarizes the allocation of the transportation improvements project <br />costs by land uses. To ensure all of the future developments in the JDEDZ contribute <br />towards the project costs, City staff is proposing to develop a JDEDZ Transportation Fee <br />that would be charged to future JDEDZ development applicants at the time they pull <br />permits with the City to develop their property with uses authorized in the JDEDZ. The City <br />will use the proceeds from the JDEDZ Fee to reduce the amount owed to Costco through <br />the proposed Sales Tax sharing agreements which, in turn, will reduce the years in which <br />the City would be required to share the sales tax generated from the Costco store with <br />Costco. <br />The City has engaged the services of Century Urban to help determine the amount of the <br />fee to charge each development applicant that wouldn't discourage development of the <br />JDEDZ. City staff will present options for a JDEDZ Transportation fee at a City Council <br />meeting later this summer or early Fall. At that time, the City Council will determine the <br />amount of a JDEDZ Transportation fee. <br />JDEDZ Transportation Improvements Project Costs Divided by Land Uses <br />Total Project Cost - Including ROW <br />$21,470,000 <br />Total Project Cost Excluding <br />Stoneridge Drive & 1-680 Onramp <br />Project (TIF Funded) <br />$15,070,000 <br />Allocation of <br />Project Allocation of <br />Percent of Costs Project Costs <br />Total Trips Including Excluding <br />JDEDZ Land Uses at Build -out ROW ROW <br />Costco <br />Hotels <br />Remaining Retail Land Uses <br />Total <br />44% $6,630,800 <br />12% 1,808,400 <br />44% 6.630.800 <br />$5,970,800 <br />1,628,400 <br />5,970,800 <br />100% $15,070,000 $13,570,000 <br />Non -Costco Portion to Recover in <br />Future JDEDZ Transportation Fee $8,439,200 $7,599,200 <br />4 Excluding ROW acquisition costs. <br />Or to repay an inter -fund loan or loan principal should the City Council choose that funding alternative. <br />Page 14 of 16 <br />