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<br />and (2) agreement to participate in assessment districts or <br />PyE l,yi <br />other funding mechanisms for certain improvements, -to <br />be done prior to the issuance of a building permit on Parcels <br />"~-~~- "C" of the project site; and <br />~ti'HEREAS, the studies required are currently underway, <br />but the final cost and method of allocating the cost among <br />several projects has not yet been determined, it being the <br />City's desire to spread the total cost of the studies fairly <br />among participating projects; and <br />WHEREAS, Developer desires to secure building permits <br />for the above-referenced project as soon as possible, prior ' <br />to the completion of, and determination of the financing of, <br />the studies required; and <br />WHEREAS, City may adequately protect its interest in <br />securing payment for the studies through this agreement and <br />finds that it is in the public interest to allow Developer <br />to proceed in advance of their completion. <br />nOtJ, THEREFORE, City and Developer hereby agree as <br />follows: <br />I. TRAFFIC FACILITIES <br />Developer agrees to place the project site into an <br />assessment district or districts for the construction of all <br />of the facilities necessary for the amelioration of traffic <br />congestion caused by development of the subject property <br />including its direct and cumulative traffic impact. Facilities <br />necessary shall be those deemed necessary by the City. The <br />assessment district or districts shall be formed at the time <br />deemed necessary by the City. <br />,, -2- <br />