Res98 13427 - Laserfiche WebLink

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along the Woodside Road/Broadway Street and Seaport Blvd./Blomquist Road intersection and connecting roadways (the "Corridors"); and WHEREAS, as of the date of City's approval of this Agreement, City has not adopted a citywide or areawide traffic impact fee program applicable to the Project pursuant to Government Code Section 66000, et seq. (the "Mitigation Fee Act"; the "Citywide or Areawide Traffic Impact Fee Program" or "Traffic Impact Fee"), nor has City established assessment districts or other financing mechanisms to fund the improvements to the Corridors or other roadway improvements to mitigate traffic impacts from existing, approved, and pending development along the Corridors; and WHEREAS, City may consider the formation of a Citywide or Areawide Traffic Impact Fee Program pursuant to the Mitigation Fee Act and/or an Assessment District for the Corridors and/or other appropriate area, covering all or any portion of Property pursuant to the Municipal Improvement Act of 1911 (Sts. & Hy. Code § 5000, et seq.), the Municipal Improvement Act of 1913 (Sts. & Hy. Code § 10000, et seq.), or any fair share financing mechanism, and all related State and local laws governing the formation of Assessment Districts (the "Corridors Assessment District") in the future (the "Funding Programs:); and WHEREAS, the formation of a Citywide or Areawide Traffic Impact Fee Program and/or the Corridors Assessment District is not anticipated to feasibly occur prior to issuance of building permits for the Project; and WHEREAS, notwithstanding that City has not adopted such Funding Programs or established other funding mechanisms, City and Seaport Plaza F:~shared~Redwood~Council\ 2 Reso-488 FXS:rg/rnge 08/21/98; 08/25/98R; 09/03/98R