Reso PC22-09 0083 PC Reso Recommending General Plan Amendment Approval Harbor View Project

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ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT REV: 10-28-2022 VR 20 under the Project Approvals or this Agreement. In calculating any reduction or credit, the Parties shall take into account the timing of payment of the Impact Fee or Exaction and the new or increased assessment. Section 6.3 Fair Share Contributions. As set forth in Section 9.7 below, Developer is required and agrees to comply with all mitigation measures adopted as part of the Project approvals. A number of adopted mitigation measures require Developer’s payment of fair share contributions. Without limiting Developer’s obligation to pay all required contributions, Developer agrees to pay the following fair share contribut ions required to mitigate transportation and other impacts pursuant to the FEIR. A. US 101/SR 84 Interchange Fair Share Contribution. Developer shall pay to City a US 101/SR 84 interchange improvement contribution (“US 101/SR 84 Interchange Fair Share Contribution”) in the amount of Five Million Seven Hundred and One Thousand Nine Hundred and Three Dollars ($5,701,903), plus the product of $5,701,903 times the percentage increase in CCI between the Effective Date and the date on which such payment is made in accordance with the terms of this Section 6.3.A. Developer will pay to City the US 101/SR 84 Interchange Fair Share Contribution prior to the issuance of the first building permit for the Project. City shall allocate the US 101/SR 84 Interchange Fair Share Contribution towards the costs of the US 101/SR 84 interchange improvement project and, therefore, payment of the US 101/SR 84 Interchange Fair Share Contribution shall be deemed to satisfy Developer’s obligations under MMRP Mitigation Measure TRA-1, 2-A, 7, 8 -A, 13, 15, 22, 23-A, and 29 to contribute its fair share to improvements to the US 101/SR 84 interchange improvement project. For the avoidance of doubt, Developer shall not be eligible to receive any credit towards Impact Fees as result of payment of the US 101/SR 84 Interchange Fair Share Contribution. Further, the US 101/SR 84 Interchange Fair Share Contribution shall be in addition to the US 101/SR 84 Public Benefit Contribution. B. Maple/Veterans Fair Share Contribution. Developer will pay to City a contribution (“Maple/Veterans Fair Share Contribution”) in the amount of Seventeen Thousand Seven Hundred and Seventy Dollars ($17,770), plus the product of $17,770 times the percentage increase in CCI between the Effective Date and the date on which such payment is made, which City shall allocate towards the costs of the Maple Street/Veterans Boulevard Intersection project and, therefore, payment of the Maple/Veterans Fair Share Contribution shall be deemed to satisfy Developer’s obligations under MMRP Mitigation Measure TRA-26 to contribute its fair share to improvements to the Maple Street/Veterans Boulevard Intersection project . Developer will pay to City the Maple/Veterans Fair Share Contribution prior to the issuance of the first building permit for the Project. For the avoidance of doubt, Developer shall not be eligible to receive any credit towards Impact Fees as result of payment of the Maple/Veterans Fair Share Contribution. Section 6.4 B lomquist Bridge Project Contribution Credit. Developer shall receive certain credits against the Blomquist Bridge Project Contribution, as set forth in this Section 6.4. The Blomquist Water Main Improvements Credit and the Pump Station Improvement Credit shall be calculated prior to Developer’s required payment of the Blomquist Bridge Project Contribution and Developer shall pay the Blomquist Bridge Project Contribution as set forth in Section 3.5C minus the Blomquist Water Main Improvements Credit and the Pump Station Improvement Credit.