PC-2026-17 - Laserfiche WebLink

12 circulation and reduce existing and future congestion in Pleasanton (“El Charro Road Improvement Contribution”). If paid to City in full by the third anniversary of the completion of annexation, the El Charro Road Improvement Contribution shall total Three Million Dollars ($3,000,000), and shall be divided by the total number of building permits being sought for the Project’s single-family market rate units ($3,000,000 / 189 = $15,873.02, rounded up), and such amount shall be paid by Developer to City at issuance of each residential building permit for a single-family market rate unit in the Project (including model homes) until the full $3,000,000 has been paid to City. In the event the full El Charro Road Improvement Contribution has not been paid to City by the deadline set forth above, each subsequent payment thereof shall be subject to those annual adjustments pursuant to the ENR Construction Cost Index for San Francisco in effect at the time of the building permit issuance for each residential unit. To the extent the Developer has not made full payment of the El Charro Road Improvement Contribution by the end of the term of this Agreement, any balance shall be paid to City no later than the expiration date of the Term of this Agreement. i. In connection with the construction of the relevant single-family homes, Developer shall construct a total of forty-eight (48) JADUs, which shall be deed-restricted to lower-income households that will promote and serve the housing needs of residents within the City. Said deed restriction shall be in substantially the same form as Exhibit ____ to the form of Regulatory AHA attached hereto as DA Exhibit B. j. To the extent permitted by applicable laws, Developer shall use good faith and commercially reasonable efforts to require all persons and entities providing Project-related construction materials and fixtures, including bulk lumber, concrete, structural steel and pre- fabricated building components, such as roof trusses, used in connection with the construction and development of, or incorporated into, the Project, to designate the Project Site as the place of use of material used in the construction of the Project in order to have the local portion of the sales and use tax distributed directly to City, all to the extent allowed by law. To satisfy the foregoing obligation, Developer shall instruct, in writing, its general contractor to cooperate with City as follows. To assist City in its efforts to ensure that the full amount of such local sales and/or use tax is allocated to the City, Developer shall include a provision in the relevant general contractor’s contract that instructs its general contractor to provide City with an annual spreadsheet, which includes a list of all subcontractors, a description of all applicable work, and the dollar value of such subcontracts. City may use said spreadsheet sheet to contact each subcontractor who may qualify for local allocation of use taxes to City. The terms of this subsection shall only apply to the construction of the buildings and structures in connection with the initial Project buildout and shall not apply to any subsequently performed tenant or individual lot owner improvement work within a building or structure Section 3.3 Vested Development Rights. Subject to annexation, the Project shall vest rights to construct and operate the Project on the Project Site in accordance with this Agreement and the Applicable Law, which shall include the following: a. The City’s General Plan and the Pleasanton Municipal Code (as modified by the Project Approvals), in effect on the Effective Date and the other Project Approvals; b. All other adopted City policies, ordinances, resolutions, rules, regulations, and standards applicable to development or use of the Project Site on the Effective Date, except that Developer shall: