ORD 1815A - Laserfiche WebLink

3.14 Reimbursement. Nothing in this Agreement precludes City and Property Owner from entering into any reimbursement agreements for the portion (if any) of the cost of any dedications, public facilities and/or infrastructure that City may require as conditions of the Project Approvals or the Subsequent Approvals, to the extent that they are in excess of those reasonably necessary to mitigate the impacts of the Project. 3.15 Desil!n!Develonment Standards and Conditions. Notwithstanding the provisions of the Existing Standards, the following design/development standards shall apply to the Project: (a) Property Owner is desirous of having assurances that at the time of the Initial Project Approvals, it will be vested to build 581 residential units on the Property (in addition to the 750,000 square feet of commercial/office development). The Initial Project Approvals provide for two alternative land use plans, designated on the Specific Plan and PUD as Alternatives A and B. Alternative A provides for 121 lots on the Central Parcel (in addition to 100 apartment units), 232 lots on the Western Area, and 128 lots on the Eastern Area; Alternative B provides for 249 lots on the Central Area (in addition to 100 apartment units), 232 lots on the Western Area, and no lots on the Eastern Area. The reason for the difference between the Alternatives is that in order to construct residential units on the Eastern Area, Property Owner must obtain one or more permits (in a form and subject to conditions reasonably acceptable to Property Owner) from Other Regulatory Agencies, including, without limitation, the U.S. Corps of Engineers ("Necessary Permits"). Examples of conditions imposed by Other Regulatory Agencies to which Property Owner may reasonably object would include (i) any condition that would unduly delay the issuance of a Necessary Permit before the end of the twenty-four (24) month period referred to below, (ii) any condition that would result in improvements that would be financially unreasonable and/or (Hi) any condition, including, without limitation, any Biological Mitigation measure(s), that would frustrate or unduly burden development of the Property, or any portion thereof, authorized by the Project Approvals and/or any proposed development of the Public Parcel. In recognition that it will take time to obtain the Necessary Permits, but also in recognition that Property Owner will incur carrying costs, infrastructure costs and other costs and expenses while the Necessary Permits are being sought, the Property Owner shall have twenty-four (24) months from the Effective Date to obtain the Necessary Permits in order to develop Alternative A. In seeking to obtain the Necessary Permits for the Eastern Area, Property Owner shall proceed in good faith and take all reasonable and necessary steps to obtain the Necessary Permits and City shall cooperate fully in that effort, Property Owner shall submit to City a monthly written report describing what steps it has taken to obtain the Necessary Permits and responses of the Other Regulatory Agencies regarding such Permits. Nothing in this Section 3.15(a) is intended to preclude Property Owner and City from mutually agreeing to reducing the number of lots/units in Alternative A and relocating such units into areas reflected on Alternative B such agreement not to be unreasonably withheld. As used in this Agreement, the term "Alternative A" shall mean Alternative A as it is described in the first paragraph of this Section 3,15(a) above or any variation thereof that is agreed upon by the parties and the term "Alternative B" shall mean Alternative B as it is described in the first paragraph of this Section 3.15(a) above or any variation thereof that is agreed upon by the parties. 35690/&49375v14 - 18- 08l2S1OO