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186 RESOLUTION NO. 89-124 PAGE TWO Exercise of Powers Agreement Creating the San Joaquin Hills Transportation Corridor Agency, dated as of October 21, 1988 (the "JPA"). The Fee Program and the JPA are on file in the City Clerk's Office and are incorporated herein by reference. SECTION 2: The estimated cost of these major thoroughfares and bridges to be constructed pursuant to the Fee Program and the JPA, excluding financing costs associated with such construction, is in 1988 dollars as follows: San Joaquin Hills Transportation Corridor Foothill/Eastern Transportation Corridor $ 560 million $1,500 million The Fee Program is designed to collect 48.44% of the costs of construction of the San Joaquin Hills Transportation Corridor and 48.48% of the Foothill/Eastern Transportation Corridor. SECTION 3: The interim increase of the Development Fees in accordance with the Schedule attached hereto as Exhibit A, is hereby approved and ordered. It is hereby acknowledged that this interim increase will be reviewed by the City in calendar year 1990 to determine, among other things, an appropriate share of financing costs to be attributed to new development and to confirm the adequacy of the Fee Program. SECTION 4: The Development Fees for development within the Areas of Benefit are based on the trip ends generated by the development as determined from the trip generation tables included in the Fee Program, and shall be assessed upon new development based upon the number of dwelling units included in the development (for residential projects) or the gross square footage of the development (for non-residential projects). SECTION 5: The purpose of the increase of the Development Fees is to reflect certain cost increases in connection with the construction of bridges over waterways, railways, freeways and canyons, and construction of major thoroughfares in Orange County, as more fully described in the Fee Program and in the reports of the Transportation Corridor Agencies. SECTION 6: The Development Fees are to be used pursuant to the provisions of the Fee Program, and the provisions of the Fee Program are hereby ratified as if approved on this date. SECTION 7: The City Council hereby determines that there is a reasonable relationship between the use of the Development Fees and the type of development projects on which the Develop- ment Fees are imposed. This determination is based on the