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MJP : dft 08 / 28 / 90R ( 018 / 43 ) <br /> MJP : dft J8 / 30 / 90R <br /> of the City . Pursuant to the above-stated policy of the <br /> City Council , and in consideration of the rights to develop <br /> the property pursuant to this Agreement , Developer shall pay <br /> to City , for construction of Facilities within the District , <br /> fees as hereinafter described : <br /> ( 1 ) Fees shall be payable on an " E . D . U . " (Equivalent <br /> Dwelling Unit ) basis , at the time building permits are <br /> applied for , for all phases of the Project , including <br /> the hotel , in accordance with the actual square footage <br /> applied for by Developer . <br /> ( 2 ) The E . D . U . equivalency charges shall be as adopted by <br /> the City Council in accordance with the Redwood Shores <br /> Development Agreement paragraph 8 , which establishes a <br /> procedure for establishing fees . " CD <br /> " (b ) Credits for Construction of Public Facilities . <br /> O <br /> The following projects which Developer is required to C'°, <br /> CAD <br /> construct pursuant to various development approvals for the C17 <br /> Project shall be considered Facilities for the purpose of <br /> District financing , and City shall give to Developer <br /> credits , in the amounts hereinafter set forth , against the <br /> payment of facilities fees . <br /> The Facilities and the amounts to be credited , are as <br /> follows : <br /> Project Maximum Credit <br /> ( 1 ) Exterior levee system $ 173 , 000 <br /> ( 2 ) Signalization 160 , 000 <br /> ( 3 ) Pump station and force main 385 , 000 <br /> ( 4 ) Marine Parkway ( 50 % ) * 400 , 000 <br /> ( * Developer is solely liable for 100 % but will be credited <br /> for 50 % of the actual construction cost of this Project . ) <br /> Credits shall be given as of the completion of each <br /> project , and shall apply toward the payment of future <br /> facilities fees . Credit will be given based on the lesser <br /> 10 <br />