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as freeway interchanges, are not placed on residential development. She felt businesses pay <br />more than their fair share already. <br /> <br />The roll call vote was as follows: <br />AYES: Councilmembers - Michelotti, Mohr, and Pico <br />NOES: Councilmember Dennis and Mayor Tarvet <br />ABSENT: None <br />ABSTAIN: None <br /> <br />(2) Park Obligation Agreements for Commercial. Office and Industrial Projects. (SR96: 105) <br /> Brian Swift presented the staff report. <br /> <br /> Ms. Dennis asked if there was a date when all these agreements had to be signed? <br /> <br /> Mr. Roush said it depends on which agreement. Some need no further Council <br />consideration and can be executed fairly soon. Other agreements involve processing <br />amendments to development agreements or reimbursement agreements. Hopefully, those can <br />be completed by the end of July. <br /> <br /> Mr. Tarver wanted to know why agreements were necessary and asked for explanation <br />of the categories or groupings. <br /> <br /> Mr. Roush indicated the agreements were a mechanism to transfer surplus funds to the <br />City from either NPID 1 or NPID 3. These funds would be the payment of the park obligation <br />and it is necessary to have official documentation authorizing use of those funds. If Council <br />simply imposed the fee, there would be no need for an agreement. <br /> <br /> Ms. Michelotti expressed her concern regarding Providian and asked if the condition had <br />been applied on the first two buildings constructed by First Deposit. <br /> <br /> Mr. Swift indicated it was not applied and only affixed to the third building. <br /> <br /> Mr. Roush indicated the Wells Fargo obligation will be paid in part by the NPID surplus <br />and in part by the assignment of the entitlement from the Dublin Boulevard reimbursement. The <br />difference would be paid by Wells Fargo when it pulls building permits for its office buildings. <br />In return, Wells Fargo wants to extend its development agreement to the year 2005 along with <br />the sewer agreement. Those matters will be proc~se~ separately. The traffic improvements <br />Wells Fargo is obligated to do will be constructed by Sears, since it is constructing sooner than <br />Wells Fargo. Wells Fargo will then reimburse Sears at the time Wells Fargo takes out its <br />permits. <br /> <br />05/07/96 -9- <br /> <br /> <br />