BRANAGH-MAIN ST PLEASANTON - IN LIEU PKNG AGMT 1997

~ ~ 2. In Lieu Payment. Developer shall pay an amount necessary to provide off-street parking facilities within the Area of Benefit far the Project.. a. Cost of Spaces in Parkin4 Facility. Developer's share of the off street parking facility shall be calculated as the proportionate share of Developer's required number of spaces compared to the total number of spaces in the parking facility, with the Developer's cost being that percentage of the total cost of the parking facility (including, but not limited to, acquisition, design, and construction): Developer's Cost = Developer's Required Spaces Total Spaces in Facility x Total Facility Cost The parking facility is to be an average cost, surface parking lot with normal City required improvements. The share of parking facility attributable to one parking space is a 9' x 29.5' paved space and aisle (share), concrete curb/gutter, and fronted by an automatically irrigated landscape strip 9' x 5' wide. The estimated total cost of such a parking space in the downtown is Four Thousand Four Hundred Dollars ($4,400.00). b. Developer's Required Spaces. The number of spaces the Developer is required to provide is as follows: 2nd Floor Office 24 spaces 1st Floor - 50% Retail 9 spaces 1st Floor - 50% Restaurant 15 spaces 48 spaces required c. Number of In-lieu spaces. The number of in-lieu spaces that is required for the Project is as follows: Required parking spaces 48 spaces 10% Reduction for combining lots <5> spaces Credit for 13 spaces on site <13> spaces Credit for public's use of 13 on-site spaces <13> spaces Total in Lieu required 17 soaces d. Pavment. Assuming that the 10% reduction identified in 2b above can be attained due to combining the Property's parking with the Bank of (AGREEMENTSUNLIEUPKSAM) 2