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WHEREAS, City has hired the professional services of Fehr & Peers to <br />perform preliminary traffic engineering and analyses (the "Traffic Studies") to <br />identify improvements to Woodside Road that will improve traffic conditions <br />along the Corridor; and <br /> <br /> WHEREAS, as of the date of City's approval of this Agreement, City has <br />not adopted a citywide or areawide traffic impact fee program applicable to the <br />Project pursuant to Government Code Section 66000, et seq. (the "Mitigation <br />Fee Act"; the "Citywide or Areawide Traffic Impact Fee Program" or "Traffic <br />Impact Fee"), nor has City established assessment districts or other financing <br />mechanisms to fund the Corridor Improvements or other roadway improvements <br />to mitigate traffic impacts from existing, approved, and pending development <br />along the Corridor; <br /> <br /> WHEREAS, City may consider the formation of a Citywide or Areawide <br /> Traffic Impact Fee Program pursuant to the Mitigation Fee Act and/or an <br /> Assessment District for the Corridor and/or other appropriate area, covering all or <br /> any portion of Property pursuant to the Municipal Improvement Act of 1911 (Sts. <br /> & Hy. Code § 5000, et seq.), the Municipal Improvement Act of 1913 (Sts. & Hy. <br /> Code § 10000, et seq.), or any fair share financing mechanism, and all related <br /> State and local laws governing the formation of Assessment Districts (the <br /> "Corridor Assessment District") in the future (the "Funding Programs:); and <br /> <br /> WHEREAS, the formation of a Citywide or Areawide Traffic Impact Fee <br /> Program and/or the Corridor Assessment District is not anticipated to feasibly <br /> occur prior to issuance of building permits for the Project; and <br /> <br /> F:~shared\Redwood\Council\ 2 <br /> Reso-320 <br /> FXS:rg <br /> 10/22/97 <br /> 13227 <br /> <br /> <br />