Agmt99 Pacific Shores Center - Laserfiche WebLink

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7. Reconfiguration of Parcels on Property. Subject to Planning Commission approval and payment of processing fees, Pacific Shores may at any time reconfigure, or increase the number of, the Pazcels comprising the Property as may be necessary to develop the Property, or to sell, lease or finance a portion of the Property in connection with the development of the Project, including the building, leasing, sale or financing of any facility included in the Project Open Space. Pacific Shores sha11 initiate the reconfiguration or subdivision through an application under the Existing Development Regulations. City shall accept any application submitted under this section and shall process it in accordance with the Existing Development Regulations. If no new parcels are created and the reconfigured pazcels otherwise meet the requirements of the Existing Development Regulations, City shall process the application as an application for a lot line adjustment regardless of the number of lot lines adjusted or the new configuration of the e�sting parcels. However, if requested, Pacific Shores shall record a pazcel map or record of survey to evidence such adjustment. If new parcels are created, City shall process the application as an application for a subdivision. City shall not require or impose any Exactions as a condition of, or in connection with, approval of the application. 8. Pacific Shores Infrastructure. (a) Pacific Shores agrees that all of the improvements on the Project Site shall be constructed by Pacific Shores at Pacific Shores' expense, including the Private Loop Road, all of the Pacific Shores Infrastructure and the Project Open Space, except as provided in Paragraph 9 with respect to Public Facilities. (b) City sha11 permit the name "Seaport Boulevard" to be used as the street name for the Private Loop Road but City may condition the use of such name on the installation of a notice at the entrance to the Private Loop Road to the effect that the continuation of the roadway is a private street. Pacific Shores may also choose to post such a notice, even if not required by City, and to take such other measures as shall be necessary to prevent implied dedication for public use of any portion of the Project Site, including the Private Loop Road. (c) If the Public Facilities are constructed by Pacific Shores at its expense, City shall accept dedication thereof upon completion subject to City Council approval, which approval shall not be unreasonably withheld or delayed. 9. Financing of Public Facilities. (a) City and Pacific Shores intend that the construction of the Public Facilities be, at Pacific Shores option, at Pacific Shores' direct expense or be fmanced by a District which will encompass the Project Site and, to the extent other property owners are interested or benefit, such other property. City agrees, at Pacific Shores' request, to cause a District to be created to finance the construction of the Public Facilities in accordance with K:\DOC\0002\0033\AGR\CI1'4.DA6 �� 29-DeC-199B AT I5:00