Laserfiche WebLink
<br />2. The property owner(s) make such other arrang ements satisfactory to the City for the 127 <br />construction of, and payment for, the Road way Infrastructure Improvements. In lieu 128 <br />of the foregoing options, the property ow ner(s) can postpone development on its 129 <br />Parcel until all of the Roadway Infrastr ucture Improvements have been completed 130 <br />and fully paid for. 131 <br /> 132 <br />D. Twin Lakes Allocation Cost: In order to establish a me thod by which property owner(s) 133 <br />of property within the Twin Lakes Overlay District can develop a Block in a manner 134 <br />which will generate more Network Trips than has been allocated to such Block under 135 <br />Section E below, the City has prepared a nd adopted the TLIIR. The TLIIR identifies 136 <br />Roadway Infrastructure Improvements which ar e necessary to redevelop the Twin Lakes 137 <br />Redevelopment Area, provide s cost estimates for the Roadway Infrastructure 138 <br />Improvements, and allocates the cost between the Blocks based on cost per Network 139 <br />Trip. If development on a Block will genera te Network Trips in excess of the number 140 <br />allocated to that Block in Section E below, the property owner(s) of such Block may, as 141 <br />provided in Section C 1 above , enter into a voluntary development agreement which 142 <br />includes the payment of the Twin Lakes Roadway Improvement Cost Allocation Amount 143 <br />allocated to such Block in the TLIIR, as ad justed for the development to be constructed 144 <br />on such Block using the methodology set forth in the TLIIR. In addition to adjustments 145 <br />made when individual development proposals are made, adjustments to the costs in the 146 <br />TLIIR shall be made annually based upon the actual cost of Roadway Infrastructure 147 <br />Improvements constructed during the preceding y ear and the change in the estimated cost 148 <br />of Roadway Infrastructure Improvements not yet constructed from the previous year. 149 <br />Once a development agreement which includes the payment of the Twin Lakes Roadway 150 <br />Improvement Cost Allocation Amount for development which will generate Network 151 <br />Trips in excess of the number set forth in Section E for such Block has been entered into 152 <br />no further adjustments to the Twin Lakes Roadway Allocation Cost Amount shall be 153 <br />made with respect to the development de scribed in the development agreement. 154 <br />Subsequent development on a Block beyond that described in the development agreement 155 <br />shall require payment of an additional Twin Lakes Roadway Improvement Cost 156 <br />Allocation Amount in an amount determined by the methodology set forth in the TLIIR. 157 <br /> 158 <br />E. Allocation of Network Trips: Each Blocko w ithin the Twin Lakes Overlay District is 159 <br />hereby assigned the following Network Trips: 160 <br /> 161 <br />Block No. Network Trips <br />1a 98 <br />1b 49 <br />2 239 <br />3a & 3b 66 <br />4 452 <br />5 145 <br />6 80 <br />7 380 <br />8 319 <br />9 681