Agmt98 Good Night Inn - Laserfiche WebLink

Browse Search

Building Permit for the Project, owner shall not be obligated to pay the Funding Program Fees. Section 3.06 No Further Traffic Impact Fees. Except as expressly provided for in Section 3, Owner shall have no further obligation to participate in, pay, contribute, or otherwise provide any other traffic fees or exactions imposed by City, or contribute fees, assessments or taxes, or be subject to other exactions or funding programs or mechanisms in connection with the Project. In the event Owner seeks any other approval, development permit, or entitlement from the City regarding the Project which do not materially impact the traffic condition at, or in the vicinity of, Whipple AvenueNeterans Boulevard intersection, City shall not subject Owner to any further obligation to pay, contribute, or otherwise provide Traffic Mitigation Fee or Citywide or Areawide Traffic Impact Fees, or any other traffic fees or exactions. Section 3.07 Use of Funds. The payments referred to in Section 2 above, are intended to be payments toward certain mitigation of the traffic impacts generated by the Project. It is the intention of the City to use the funds received from Owner pursuant to Section 2, above, toward improvements at, or in the vicinity of, the Whipple AvenueNeterans Boulevard intersection, and/or other traffic mitigation improvements in the vicinity of the Project within ten (10) years of the Effective Date of this Agreement. All funds received from Owner may, at City's discretion, be deposited to City's general funds. Owner understands and agrees that the construction of the improvements above referred is, at City's discretion, subject to City's receipt of matching funds from Agmt-212 f/sh/shlRC/Council FXS:rg 11/9/98,11/17/98, 1'2/143/98 6