My WebLink
|
Help
|
About
|
Sign Out
AGENDA FULL PACKET
City of Pleasanton
>
BOARDS AND COMMISSIONS
>
PLANNING
>
AGENDA PACKETS
>
2020 - PRESENT
>
2024
>
05-08
>
AGENDA FULL PACKET
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/20/2024 4:10:32 PM
Creation date
5/20/2024 4:08:58 PM
Metadata
Fields
Template:
CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
5/8/2024
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
101
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
8Dl,353'J <br />thereafter incurs costs in connection with the <br />completion of any Traffic Mitigation Improvements; such <br />payment may be made in installments, as necessary, in <br />order to satisfy the foregoing, and any such accrued <br />payment obligation shall continue as an obligation of <br />Developer (or its successor) to the extent the same <br />remains unpaid at the termination of this Agreement. <br />Notwithstanding the foregoing, Developer (or its <br />successors) may elect not to defer payment of <br />Developer's Estimated Required Payment as referred in <br />the preceding sentence, but rather may pay same to the <br />city upon issuance of the aforesaid building permit.) <br />The foregoing reference to "allocable portion" shall be <br />understood to refer to that circumstance where <br />Developer (or its successor) completes only a portion <br />of the project as referred to on Exhibit F; by way of <br />example, if Developer (or its successor) were to <br />construct an additional 100,000 sq. ft. of Floor Area <br />within the Shopping center, then Developer's allocable <br />portion of its Estimated Required Payment would be <br />17.9% (100,000 sq. ft. divided by the total Project <br />size of 558,000 sq. ft. as shown on Exhibit F) of the <br />total Estimated Required Payment for Developer (~., <br />0.179 x $482,149 = approximately $86,305). <br />ii) Increase in Net Estimated Traffic Mitiaation <br />ImDrovements Costs. Any portion of the Net Estimated <br />Traffic Mitigation Improvements Costs not paid to the <br />City by Developer by January 1, 1999 shall increase by <br />an interest factor equal to the Prime Rate from such <br />date to the date of payment. The term "Prime Rate" <br />shall mean the rate of interest which Wells Fargo Bank, <br />N.A. ("WFB") announces publicly at its main office in <br />San Francisco, California, as its "prime rate" for <br />unsecured commercial loans. If WFB no longer announces <br />a prime rate, the term "Prime Rate" shall mean the <br />reference rate", "base rate" or other comparable rate <br />which WFB announces in lieu of the prime rate. Changes <br />in the Prime Rate shall be effective as of the date <br />announced by WFB. <br />d) Liabilitv of contributina Pro;ects. In addition <br />to Developer'S property, other properties will benefit from <br />he Traffic Mitigation Improvements. The boundaries of such <br />benefitted properties are depicted on Exhibit G attached <br />hereto. As of October 1, 1997, the City has identified five <br />Contributing Projects" which will benefit from completion <br />of the Traffic Mitigation Improvements, as shown on <br />Exhibit F. The City has assigned each Contributing Project <br />including Developer's) a percentage share of the <br />responsibility for participating in the costs to complete <br />the Traffic Mitigation Improvements. That percentage share <br />of the Traffic Mitigation Improvements Costs of each of the <br />currently identified Contributing Projects and their <br />required payments are also shown on Exhibit F. Each <br />5-
The URL can be used to link to this page
Your browser does not support the video tag.