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documentation, ihdusion of the proiect in the Regional <br /> Transportation Improvement Program, preparation of plans, <br /> specifications and estimates. <br /> <br /> (ii) Proiect Funding: Ability of project to "leverage" other funding, <br /> eligibility of the proiect for extemal funding, or commitment of <br /> external funding. .- <br /> <br /> (iii) Proiect Effectiveness: Ability of the proiect to address traffic <br /> congestion or safety problems. <br /> <br /> Section 12. <br /> Time of Payment <br /> <br />The TVTD Fees shall be collected prior to the issuance of a building permit to the <br />extent permitted by law. <br /> <br /> Section 13. <br /> Tri-Vallev Fee Ad!ustments <br /> <br /> a. Each Party shall' include an automatic adiustment of the TVTD Fee as <br /> of March 1 of each year in its fee resolution or ordinance. The <br /> adiustment shall be based on the increase or decrease in the <br /> Engineering News-Record Construction Cost Index for the San <br /> Francisco Bay Area for the period ending December 3 1 of the <br /> preceding calendar year. <br /> <br /> b. In addition to the automatic adiustrnent provided in the TVTD Fee, <br /> the Parties may agree to adjust the TVTD Fee to reflect revisions in <br /> the proiect list in the Tri-Valley Transportation Plan/Action Plan, <br /> program revenue, increases in land values over the infiationary <br /> increase or other factors. The amount of such adiustments shall be <br /> included in a written addendum to this Agreement that shall be <br /> approved by each Party and in amendments of each adopted fee <br /> resolution or ordinance. Concerted efforts shall be made to attract <br /> and obtain other funds from other available revenue sources for which <br /> the proiects are eligible. <br /> <br /> Joint Exercise.of Powers Agreement Page 16 of 22 <br /> TVTD Fees for Traffic Mitigation April 24 1998 <br /> <br /> <br />