PC-93-25 - Laserfiche WebLink

2) Each parcel within the Property, along with all other North Pleasa.nton properties, shall also be responsible for its pro rata share of presently unforeseen traffic mitigation improvements within the North Pleasa.nton area benefiting and/or made necessary by North Pleasa.nton development. Participation in the funding of these unforeseen improvements shall generally be in accordance with the NPID #3 rules for determining benefitted properties and method of spread costs as described in subsection B(l) above. The total obligation of each parcel within the Property under this subsection shall not exceed such parcel's pro rata share of $l million worth of additional traffic improvements in excess of the funds (approximately $3 million) currently in the NPID #1 Improvement Funds and available for further traffic improvements in the North Pleasa.nton area. The $1 million is in 1993 dollars and shall be adjusted annually using the Engineering Record News Construction Cost Index, San Francisco Region, or comparable index. 3) The parties agree that the "Local Rules" in the respective Development Agreements permit the City to levy a regional traffic impact fee upon developments in the Property should the City determine such a fee is necessary. 4) The parties further agree that the above listed obligations are consistent with the "Local Rules" and "Limitations on Obligation to Fund Additional Mitigations" in the respective Development Agreements and, except as clarified herein, those limitations remain in full force and effect. Furthermore, the parties agree that, except as provided in this section, no further site specific traffic studies or mitigation improvements shall be required of new development occurring on the Property. However, site-specific traffic improvements reasonably related to particular site development approvals may be required by the City. 5 II