RTJ - Laserfiche WebLink

I-680/West Las Positas Boulevard freeway interchange (the "Interchange Costs"). 2. Property Owner's Responsibilities. A. If City decides to form an assessment district or similar district (i.e., one in which owners of the property within the proposed district either must not protest or must affirmatively vote in favor of the formation of such district in order for the district to be formed) for the I-680/ West Las Positas interchange, Property Owner agrees that it either will not protest the establishment of the assessment (or similar) district, or will affirmatively vote for the creation of the district. The Property Owner will retain the right to protest that the allocation of costs among various properties is inequitable under any proposed funding mechanism. In no event will the Property, or any portion thereof, be assessed for more than its fair share of the Interchange Costs, based upon objective traffic studies using reasonable assumptions. B. Property Owner acknowledges that the City is considering other types of funding mechanisms to fund the Interchange Costs. These include, but are not limited to, a capital facilities fee, a traffic fee, and a general, specific or parcel tax. Any funding mechanism of the type referred to in the preceding sentence, if adopted by the City, will be adopted and implemented in accordance with all laws and requirements applicable to the same, and nothing in this Agreement is intended to modify in any way any of the rights of Property Owner, or the requirements to which City is subject, with respect to the implementation of any funding mechanisms; provided, however, that City agrees that any such funding mechanism to fund the Interchange Costs will permit payment to be amortized over a period of not less ten years. 3. City's Responsibilities. In the event the assessment mechanism or other similar funding mechanism appears to impose economically infeasible levels of costs upon the Property, the City shall explore alternative financing methods, provided, however, that the City retains the right to make the final determination of the appropriate funding mechanism. 4. Attorney's Fees. If City or Property Owner commences an action against the other property arising out of or in connection with this Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs of suit. -2-