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11
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2022
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062122
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Last modified
6/17/2022 8:15:28 AM
Creation date
6/17/2022 8:09:10 AM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
6/21/2022
DESTRUCT DATE
15Y
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AGREEMENT <br />NOW, THEREFORE, in consideration of the foregoing recitals, the mutual covenants contained <br />in this Agreement, and other good and valuable consideration, the receipt and sufficiency of <br />which is hereby acknowledged, the Panics agree as follows: <br />ARTICLE 1. <br />DEFINITIONS <br />Section L I Definitions. In addition to the terns defined elsewhere in this Agreement, <br />the following capitalized words shall have the following meanings: <br />(a) "Agreement" means this Johnson Drive Economic Development Zone <br />Transportation improvement and Cost Allocation Agreement. <br />(b) "Auditor" is defined in Section 3.10. <br />(c) "City" is defined in the preamble. <br />(d) "City Engineer" means the City Engineer or his or her designee. <br />(e) "Cost Certification" is defined in Section 3.10. <br />(f) "Costco' is defined in the preamble. <br />(g) "Costco Acquisition Costs" is defined in Section 3.9. <br />(h) "Costco Construction Costs" means (i) the actual out of pocket costs paid <br />by Costco to third parties related to the design and construction of the JDEDZ Street <br />Improvements, excepting costs to pay Cost Overruns as further specified in this Agreement and <br />(ii) the actual out of pocket unreimbursed costs, up to Seven Hundred Ten Thousand Dollars <br />(S7 10,000), paid by Costco for Stoneridge Drive and 1-680 Project costs that do not constitute <br />Stoneridge Drive Cost Overruns. <br />(i) "Costco Contribution Amount" is defined in Section 4.2. <br />(j) "Costco Reimbursement Amount is defined in Section 4.2. <br />(k) "Costco Right of Way" means the portion of the Costco Site to be <br />dedicated to the City to allow for the JDEDZ Street Improvements adjoining the Costco Site <br />shown on Attachment 5. <br />(1) "Costco Sales Tax Share" means forty percent (40%) of the Sales Tax <br />generated by Costco at the Costco Site during the Tenn of this Agreement. <br />(m) "Costco Site" means the real property at 7200 Johnson Drive. <br />(n) "Costco Store" means that wholesale and general merchandise store <br />owned by Costco and located on the Costco Site. <br />1310 W2218870.8 <br />2nt2o1s <br />
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