Agmt98 Kaufman & Broad - Laserfiche WebLink

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Section 2.02 Timing of Traffic Mitigation Fee Payment. Owner shall pay the Fixed Fee upon issuance of the Project Building Permit and its share of the Restriping Costs and of the Additional Costs upon presentation of invoice from the City. Section 2.03 No Obligation to Pay Traffic Mitigation Fee. In the event Owner does not undertake Project and notifies City in writing that Owner does not intend to obtain the Project Building Permit, Owner shall not be obligated to pay any portion of the Traffic Mitigation Fee. SECTION 3. ASSESSMENT DISTRICT, CITYWIDE OR AREAWIDE TRAFFIC IMPACT FEE PROGRAM OR OTHER FUNDING PROGRAM. Section 3.01. Payment of Roadway Assessment District Fees or Citywide or Areawide Traffic Impact Fees. In the event City adopts a Funding Program within three (3) years of the Effective Date to fund transportation improvements, Owner shall be required to pay the fee established by the Funding Program (the "Funding Program Fees") in an amount not to exceed forty (40) percent of the Fixed Fee. Owner covenants and agrees that it will participate in and will not oppose the formation of Funding Programs provided that the date the City institutes the formation of the Funding Programs applicable to the Project occurs within three (3) years of the Effective Date. Section 3.02 Calculation of Roadway Assessment District Fees and/or Citywide or Areawide Traffic Impact Fees Payment. Owner shall pay the Funding Program Fees subject to the limitation set forth in Section 3.01, in Agmt-165 f/sh/sh/RC/Council FXS:rg 07/01/98; 07/17/98R107/22/98 7