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2. The Developer, in accordance with the Affordable Housing <br />Ordinance, has agreed to donate and transfer, or cause the Affiliate to donate and transfer, the <br />Affordable Site to the Affordable Housing Partner as an alternative to paying the Affordable <br />Housing Impact Fee. Accordingly, once City receives satisfactory documentation that the <br />Affordable Site has been transferred and donated to the Affordable Housing Partner, the <br />Affordable Housing Impact Fee otherwise applicable to the Project and the Affordable Housing <br />Project shall be deemed satisfied, and the Developer shall not be required to pay an Affordable <br />Housing Impact Fee. <br />3. The Developer has agreed to construct and maintain the <br />Public Plaza Area and the Community Space and make them open to public use, as described in <br />Section 2.4. The Public Plaza Area is valued at more than the Park Impact Fee otherwise <br />applicable to the Project. Accordingly, if the Public Plaza Area project is subsequently approved <br />by the City Council to be included as a City Capital Improvement Program as provided in Section <br />5.4 below, once the Public Plaza Area and Community Space are constructed and the associated <br />agreements governing their community use are executed between Developer and the City in <br />accordance with this Agreement, the Park Impact Fee otherwise applicable to the Project and the <br />Affordable Housing Project shall be deemed satisfied and the Developer shall not be required to <br />pay a Park Impact Fees. <br />B. Payment of Im act Fees. For the period commencing on the Effective Date <br />and continuing until expiration of the Initial Term, Developer shall pay when due all Impact Fees <br />applicable to the Project and Affordable Housing Project in accordance with this Agreement in <br />effect as of the Effective Date at the rates in effect as of the Effective Date, subject to any rate <br />escalators in effect on the Effective Date or, in the absence of any built in rate escalators, the <br />Consumer Confidence Index ("CCP'). Neither the Project nor the Affordable Housing Project <br />shall be subject to New Impact Fees for the duration of the Initial Terrn. <br />Pa meat of Impact Fees for Extended Term. <br />a. First Extension Term. If the First Extension Term is <br />granted by the City Manager pursuant to Section 3.2.13.1, all Impact Fees applicable to the Project <br />and the Affordable Housing Project shall be calculated at the rates in effect as of the Effective <br />Date for the duration of the First Extension Term. Neither the Project nor the Affordable Housing <br />Project shall be subject to New Impact Fees for the duration of the First Extension Term. <br />b. Second Extension Term. If a Second Extension <br />Term is granted by the City Manager pursuant to Section 3.2.13.2 and a building permit is pulled <br />for either the Project or the Affordable Housing Project during the Second Extension Term period, <br />all Impact Fees, applicable to the development subject to such building permit shall be calculated <br />at the rates in effect as of the Effective Date, subject to any increases incurred as a result of the <br />Consumer Confidence Index ("CCP') in place as of the seventh (7t'') and eighth (8"') year of the <br />Second Extension Term. Neither the Project nor the Affordable Housing Project shall be subject <br />to New Impact Fees for the duration of the Second Extension Term. <br />22 <br />ATTY/AG R/2024.193 - GATEKEEPER DA - £900 BROADWAY <br />REV: 10-22-24 VR <br />