|
construction or funding of, public infrastructure or public improvements beyond those included in
<br />the Project Approvals, except as required or expressly permitted by this Agreement.
<br />Section 4.11 Sets of Project Approvals and Applicable Law. Prior to, or within a
<br />reasonable time after, the Effective Date, the Developer and City, at Developer’s expense, shall
<br />cooperate to prepare two sets of the Project Approvals and copies of the Applicable Law, one set
<br />for City and one set for Developer, to which shall be added from time to time with any Subsequent
<br />Approvals, so that if it becomes necessary in the future to refer to any of the Project Approvals
<br />and/or Applicable Law, there will be a common set available to the Parties. Failure to include any
<br />rule, regulation, policy, standard, or specification in the sets of Project Approvals as described in
<br />this Agreement shall not affect the applicability of such rule, regulation, policy, standard, or
<br />specification.
<br />ARTICLE 5. FEES, TAXES, AND ASSESSMENTS
<br />Section 5.1 Developer Impact Fees.
<br /> A. Definition of Impact Fees. For purposes of this Agreement,
<br />“Impact Fees” shall mean the monetary fees and impositions, other than taxes and assessments,
<br />charged by City and, except as otherwise expressly provided for herein, in effect as of the Effective
<br />Date, in connection with a development project for the purpose of defraying all or a portion of the
<br />cost of mitigating the impacts of a development project or the development of the public facilities
<br />and services related to a development project, including but not limited to the Affordable Housing
<br />Impact Fee, Art in Public Places In-Lieu Fee, Downtown Parking In-Lieu Fee, Parks Impact Fee,
<br />Sewer and Water Fees, Transportation Impact Fee, Emergency Water Tank Fee, and any other
<br />City “fee” as that term is defined by Government Code Section 66000(b).
<br /> 1. For purposes of this Agreement, “New Impact Fees” means
<br />those Impact Fees adopted by City after the Effective Date of this Agreement. New Impact Fees
<br />do not include replacements or escalation of Impact Fees.
<br /> 2. Affordable Housing Impact Fee. The Developer, in
<br />accordance with the Affordable Housing Ordinance, has agreed to donate and transfer the
<br />Affordable Site to the Affordable Housing Partner as an alternative to paying the Affordable
<br />Housing Impact Fee pursuant to Section 2.2 of this Agreement. Accordingly, once the City
<br />receives satisfactory documentation that the Affordable Site has been transferred and donated to
<br />the Affordable Housing Partner and the Affordability Covenant has been recorded against the
<br />Affordable Site, the Affordable Housing, or Section 2.2 has been otherwise satisfied in accordance
<br />with its terms, the 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. Parks Impact Fee. The Developer has agreed to construct
<br />and maintain the Teen Center, and allow for the City’s exclusive use, as described in Section 2.3.
<br />In order for the construction of the Teen Center to be considered for a credit against the Park
<br />Impact Fee, Developer shall provide the City with a fully executed Teen Center Lease Agreement
<br />as provided in Section 2.3(E). In addition, prior to the submittal of the first Vertical Building
<br />ATTY/ORD.0002/CC ORD APPROVING DEVELOPMENT AGREEMENT (901 EL CAMINO REAL) - EXHIBIT A
<br />REV: 04-23-25 VR
<br />
<br />Page 29 of 336
|