Agenda - Council - 09/13/2004 - Laserfiche WebLink

Home

18. ]¸9. with title to the Subject Property and are binding on the Developer and its successors and assigns. Until the City levies the special assessment, the special assessment constitutes a pending special assessment. Once the City levies the special assessment and subject to Section 7.~3 below, Developer must pay the installments of special assessment certified for payment with annual real estate taxes when and as they become-due. The pending special assessment described in this Section 7.12 are allocated among the lots and outlots the Master Final Plat creates in the maturer set ibrth on the attached Exhibit F. If a subsequent Final Plat for a Phase subdivides one or more of the lots or outlots referenced on Exhibit F, the City must allocate the special assessment pending or levied against that lot or outlot among the lots and outlots created by such Final Plat. The Developer or a Secondary Developer, if applicable, must prepare and submit to the City, for its review, a proposed allocationof the pending or levied special assessment among the lots and outlots created by such Final. Plat. The City must adopt the Developer's or, if applicable, a Secondary Developer's proposed allocation if the Developer's or, if applicable, a Secondary Developer's proposed allocation is done on a per square foot basis. The City may accept or reject other proposed allocations in its sole and absolute discretion. The City and the Developer agree that notwithstanding the actual cost of the Phase II Roadway Improvements, the City will not assess more than $ [How is $1,341,235 split between Phase I and Phase II?] against the Subject Property for the City Phase II Roadway Improvements. Section 7.14 is hereby added to the Master Development Agreement to .read as follows: 7.14 AUAR ROADWAY IMPROVEMENTS. The City and the Developer aclmowledge the importance of upgrading the regional roadways with the AUAR Roadway Improvements. The Developer acknowledges that the' AUAR requires mitigation of potential impacts that may result from the full build-out of the RTC Project. The Developer will continue to work with the City to pursue alternative strategies, including, for example, a traffic demand management plan, to mitigate any such impacts, so that the RTC Project complies with the requirements of the AUAR. The City Developer acknowledge that the AUAR Roadway lmpt:ovements shall be constructed on a timetable to be determined by.the City. The City may design and undertake to construct the AUAR Roadway Improvements as and when the City deems necessary and appropriate. The City may construct the AUAR Roadway Improvements in one or more phases as it deems appropriate in its sole and absolute discretion. Section 7.16 is hereby added to the Master Development Agreement to read as follows: 1684445v2 7 -327-