RES 98088 - Laserfiche WebLink

the parties and not transmitted to the Joint TVTD Fee Account shall also be reflected within the SEP. The SEP shall also include guidelines to assure that Project Sponsors do not receive TVTD Fee revenues from the Treasurer (pursuant to Section 4(f)) for a Project in amounts more than are authorized in the SEP. c. The "Circulation Draft" of the first amended SEP (and all subsequent amendments) must be reviewed and approved unanimously by all of the Parties. The SEP must be reviewed at least once every two years bv the TVTC. Each revision shall require unanimous approval by the TV:FC. d. The TVTC shall consider the following criteria when establishing the priority of Transportation Improvement Projects in the SEP: (i) Project Readiness: Ability of Project Sponsors to move directIv to final design and construction, which could be represented by, among other things, completion of environmental documentation, inclusion of the project in the Regional Transportation Improvement Program, preparation of plans, specifications and estimates. (ii) Project Funding: Ability of project to "leverage" other funding, eligibility of the project for external funding, or commitment of external funding. (iii) Project Effectiveness: Ability of the project to address traffic congestion or safety problems. Section 12. Time of Payment The TVTD Fees shall be collected prior to the issuance of a building permit to the extent permitted by law. Section 13. Tri-Vallev Fee Adjustments a. Each Party shall include an automatic adjustment of the TVTD Fee as of March 1 of each year in its fee resolution or ordinance. The adjustment shall be based on the increase or decrease in the Engineering News- Record Construction Cost Index for the San Francisco Bay Area for the Joint Exercise of Powers Agreement Page 15 of 21 TVTD Fees for Traffic Mitigation June 2, 1998