RES 88084 - Laserfiche WebLink

EXHIBIT A Reimbursement Principles and Procedures for Bernal Avenue Extension - Del Valle Parkway to Stanley Boulevard The following reimbursement principles and procedures shall be followed in reimbursing owners for a portion of the cost of construction of Bernal Avenue between Del Valle Parkway and Stanley Boulevard: 1. Benefit Area. "Benefit Area" shall be those properties designated on Exhibit "B" attached hereto and incorporated by reference herein. 2. Reimbursement Principle. Each property within the Benefit Area shall bear its share of costs in accordance with the level and intensity of future development on that property, based on the traffic generating effects of that future development. 3. Establishment of Fee. The reimbursement fee, based on the reimbursement principle above, is hereby established as follows: (a) The Kottinger Ranch area as shown on Exhibit B and consisting of 215 single-family residential units shall pay a fee equal to Ninety-Three Dollars ($93.00) per unit; (b) All other properties shall pay the following fee: (1) Two Hundred Fifty Nine Dollars ($259.00) per single-family residential dwelling unit; (2) One Hundred Ninety-Four Dollars ($194.00) per multiple family residential dwelling unit; (3) Commercial and/or non-residential use: a fee equal to the single-family unit equivalent traffic generation, as determined by the City Planning Director, and calculated by the following formula: fee = Total ADT for the pro~ect 10 ADT/SF unit x $259.00/SF unit, (c) An annual interest rate of eight percent (8%) shall be added to the fee for each calendar year after December 31, 1988, for fees established in this section. 4. Time of Collection. City will collect reimbursement fees at the time of first subdivision or issuance of a building permit, whichever comes first. - 1 -