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03
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2017
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121917
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03
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12/13/2017 2:12:47 PM
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12/13/2017 10:56:51 AM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
12/19/2017
DESTRUCT DATE
15Y
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� � �43535 <br /> Improvements costs ("Net Estimated Traffic Mitigation <br /> Improvements Costs") is $954,750, as shown on tXbillA.t F. <br /> (b) Deve1opgr's Share of Net Esti mated Traffic <br /> ratiaation improvement Costs. A list of the currently <br /> identified projects that will contribute ("Contributing <br /> Projects") to the Traffic Mitigation Improvements Costs is <br /> shown on exhibit 7. (Said list has been compiled by the <br /> City based upon development projects as to which development <br /> agreements, applications or other submittals to the City or <br /> similar evidence of expected development existed as of <br /> October 1, 1997; said list of Contributing Projects shall be <br /> revised from time to time by the City as development <br /> expectations change.) Based upon the foregoing and subject <br /> to adjustment as hereinbelow provided, Developer's share of <br /> the Net Estimated Traffic Mitigation Improvements Costs <br /> (calculated as a percentage) shall be fifty and one-half <br /> percent (50.5%) ("Developer's Percentage Share") . <br /> Developer's share of the Net Estimated Traffic Mitigation <br /> Improvements Costs (in terms of present dollars) is, <br /> accordingly, $482,149 ("Developer's Estimated Required <br /> Payment") . Developer's Percentage Share and Developer's <br /> Estimated Required Payment shall be adjusted as specifically <br /> provided in this Section 3.2. <br /> (c) Developer's Payments. <br /> (i) Payment of Net Estimated Traffic Mitigation <br /> Improvements Costs. Subject to Developer's <br /> responsibility for increased costs (pursuant to <br /> subparagraph (q) below) and the City's responsibility <br /> for reimbursement to Developer (pursuant to <br /> subparagraph (e) below) , Developer (or its successor, <br /> including a major department store within the Shopping <br /> Center ("successor"]) shall pay to the City either the <br /> Net Estimated Traffic Mitigation Improvements Costs or, <br /> if the actual costs of particular Traffic Mitigation <br /> Improvements have been determined by bid, the Net <br /> Actual Traffic Mitigation Improvements Costs, for the <br /> Traffic Mitigation improvements, when (i) Developer (or <br /> its successor) obtains a building permit for any <br /> portion of the Project as identified on Iphibit F, And <br /> (2) the City Engineer reasonably determines that the <br /> LOS at any intersection identified on EXhibit D will be <br /> below LOS "D" following completion of the improvements <br /> covered by such building permit. If the circumstance <br /> referred to in clause (2) will not exist following the <br /> completion of such improvements (i.e. , no Traffic <br /> Mitigation Improvements must be completed at the time <br /> of such development) , then Developer (or its successor) <br /> shall pay to the City Developer's Estimated Required <br /> Payment (or allocable portion thereof, as referred to <br /> below) at such time as either (A) the City is obligated <br /> to pay Reimbursement Fees to a Contributing Project as <br /> provided in subparagraph (e) below, or (B) the City <br /> -4- <br />
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