RES 97131 - Laserfiche WebLink

OCT 23 ' 9? 04: 45P'~1 CITY OF MAYwARti PW p , 2 WHEREAS, the LAVWMA export expansion project will require additional capacity in the EBDA system; and WHEREAS, EBDA is willing to accommodate and provtdc increased capacity subject to a unanimous vote of its board; and WHEREAS, HAYWARD has determined that traffic impacts of future development that will utilise increased LAVWMA capacity must be mitigated and can best be mitigated through payment of a traffic mitigation fee; and - WHEREAS, HAYWARD has determined that the consideration hereafter a;ret~ to by the parties adequately addres:es its concerns about traffic impacts eeturated by the LAVWMA expansion project; and WHEREAS, based upon the obligations I.AVWMA has agreed to undertaloe in this Agreamenc, HAYWARD has agreed not to chaIIenge the traffic impact atulysis contained in the environmental documenu for the LAVWMA expansion project; and WHEREAS, HAYWARD is unwilling to support any lean of the excess capacity in the EBDA interceptor-outfall system until such traffic impacts are fully mitigated; aril ~ WHF~tEAS, HAYWARD's affirmative vote for arty lease of the: excess capacity it contingent upon the traffic impacts an HAYWARD being fully mitigated; and WHEREAS, HAYWARD has determined that traffic impacts associated with increased LAVWMA capacity can be mitigated by the payment of the traffic mitigation fee provided herein. NOW THEREFORE, the parties a=rtx as follows: t . Interest Pay~enta. 1.1 Effective October 1, 1997, LAVWMA will make quarterly payments to HAYWARD in an amount equal to the interest that would be earned on the sum of S1,500,000 in Haywasd's Loeal Ageney Investment Fund Account (LAID held by the State Tre.a~urer. 1.2 HAYWARD will issue a dttailed invoice for the intatest payment to LAVWMA on or about the 1Sth of January, April, July grad Octobec. beginning January 15, Kw.»~- ~~ •2- town 10/27/97 MON 11:0 ['t'Z/RX NO li1291 0008