ORD 1814A - Laserfiche WebLink

46. (c) Property Owner shall reimburse the developer of the new Bemal Avenue bridge over the Arroyo de la Lagtma fifty percent (50%) of the cost of the new bridge, not to exceed $700,000 as set forth in a development agreement. Reinthursement shall occur as bridge is being constructed and invoices are received, or at the close of escrow of the last home on the Western Parcel, whichever occurs first~ (d) A full fourth lane to act as a deceleration/acceleration lane shall be built from the commercial/office private road entrance to Valley Avenue and an appropriate merge lm~c and deceleration lane on Boreal Avenue between Valley Avenue and the extension of Street W. Bernal Avenue/l-680 Interchange Improvements. In lieu of paying the City's Local Traffic Fee, the Project shall fund Bernal Avenue-I-680 imerchange improvements designed to achieve LOS D conditions at this imerchange's intersections and ramps. The funding mechanism shall be specified in the Development Agreement which shall provide for Property Owner to fund improvements, such funding not to exceed fifteen million dollars ($15,000,000). The agreement shall provide that any funds which may be advanced to the City should be used as a credit against the Project's otherwise payable City Traffic Development Fee. If funds advanced exceed the Projecfs total City Traffic Development Fees described above, the agreement shall provide a mechanism for reimbursement. Improvements include both interim impmvemants and major reconstruction of the interchange. Interim improvements include: Signalize the 1-680 southbound ramp imersection at such time as the intersection meets traffic signal warrants and development of the Project occurs on the Central or Western Areas. This improvement shall not be required prior to eighteen (18) months from the effective date of project approval. Provide lane-widening, median-reconfiguration, and re-striping between the northbound and southbound off-ramp intersections to accommodate the configuration shown in Exhibit 15; Bernal Avenue Improvements. Reimburse the developer of the northbound on- and off-ramp traffic signal for 50 pement of the costs associated with that signal installation as described in the City-Bemal Corporate Park Reimbursement Agreement, with reimbursement due upon issuance of the first building permit for a development project on the Central Area. Funds may be allocated towards tiffs obligation as established in the Development Agreement. Major reconstruction is subject to CalTrans review and approval; improvements contemplated include ultimate improvements to the northbound on-ramp and southbound off-ramp, as such improvements may be designed and approved by CalTrans. Conditions of Approval Page 26 of 49 Revised August 21, 2000