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04-21-14-WS
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04-21-14-WS
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<br />Plaza redevelopment. In adopting the special assessment roll for the TS Improvement, the City shall <br />comply with the formula contained in the Covenants. <br />J. Development of Lot 2. Prior to the issuance of building permits for Lot 2, Arden <br />Plaza shall provide a long-term plan for the existing retail center and parking lot as part of the approval <br />for Phase II. <br />K. Future Improvements/Assessments for the B-2 District Streetscape. The City <br />anticipates constructing streetscape improvements on County Road E, adjacent to Lot 2. Arden Plaza <br />hereby agrees to waive its right to appeal any special assessments levied against Lots 2 or 3 for <br />streetscape improvements, associated with the implementation of the Guiding Plan for the B-2 District, <br />provided that: <br />1. Such special assessment does not exceed an amount equal to $350 per lineal <br />foot on County Road E; <br />2. The property within the Plat that is subject to the terms of this Restated <br />Agreement is specially assessed in the same manner as other similarly situated properties; <br />3. To the extent that the City, as part of its Streetscape Improvement Project, <br />does not remove any sidewalk improvements constructed by Arden Plaza as part of this Restated <br />Agreement, the City agrees to negotiate in good faith with Arden Plaza to determine a credit for sidewalk <br />improvements when determining the assessment amount. <br />4. In the event that the City, as part of its Streetscape Improvement Project, <br />removes any sidewalk improvements constructed by Arden Plaza as part of this Restated Agreement, <br />Arden Plaza shall receive credit against its proposed special assessment for Streetscape Improvements. <br />The credit shall be 100 percent of the sidewalk improvement cost less depreciation based on a <br />9 <br /> <br />
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