AgdaPkt 2010-09-13 - Laserfiche WebLink

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7.8 Page 32 The Developerls allocable share to be paid ratably for the Blomquist Bridge and/or Bridge Elements shall be $2/851.00 per Residential Equivalent. 8. Financing Sources. City and Developer agree to use best efforts to pursue statel federal and local sources of fundsl including the Blomquist Bridge FundI to assist in financing the Improvements. Without limiting the generality of the foregoingl City and Developer agree to cooperate in efforts to obtain financing through the Statewide Communities Infrastructure Program r'SClpll)1 the California Infrastructure and Economic Development Bankl and other sources including without limitationl the formation of a CFD. 9. Right-of-Wav Acquisition. The Parties agree that Developer shall have no obligation to acquire right-of-way for any Improvementsl and that acquisition of any required right-of-way shall be City's responsibility, and Developer may proceed with the Revised Project and Developer shall pay its allocable share for each Improvement as set forth herein. 10. Development Impact Fees. The Developer shall pay to City the impact fees listed for the purposes described in Attachment A (the ((Development Impact Fees"). The Development Impact Fees shall be due and payable at the time of the issuance of building permits for the applicable phase of the Revised Project for which building permits are issuedl and at the rates in effect at that time. The amounts of the Development Impact Fees shown on Attachment A are for illustrative purposes onlYI as of the Effective Date of the Agreementl and are not intended to represent the actual Development Impact Fees that Developer would be required to pay during the Term of the Agreementl said actual fees to be determined at the time of issuance of each building permit. 11. Off-Site Improvement Costs. City agrees that Developer1s obligation under this Development Agreement to pay its allocable share of the costs for each Improvement shall not be increasedl provided that Developer pays Developer1s allocable share of the costs related to each such Improvement in accordance with this Amended Plan at the time of issuance of certificates of occupancy for each dwelling unit constructed on the Property pursuant to this Development Agreement. Notwithstanding anything to the contrary set forth hereinl unless another source of financing is identified for such Improvements, and subject to reimbursement in accordance with this Amended Plan, Developer shall be obligated to initially fund, or construct and installl as determined by the City, the Bair Island Road Improvements (defined in Section 2 above) even if the cost of such improvements exceeds the Estimated Cost set forth in Section 2 above. 12. Vested Right. The Parties agree that the list of Improvements is intended to address the public infrastructure needs of the Revised Projectl and that City shall not require Developer to pay for any additional public infrastructure improvements that serve both the Revised Project and surrounding areas, unless Developer seeks to modify or expand the scope of the Revised Project or otherwise seeks to develop additional property within the Peninsula Park Precise Plan beyond the development comprising the Revised Project. 1500351.7 9-08-2010 PCI 7