TRANSPORTATION CORRIDORY AGENCY - PUBLIC HEARING NOTICE - EST 1986

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(closure of short gaps). Number of lanes required is to be based upon traffic generated by proposed project. S. Participate, among other designated beneficiaries, in the San Joaquin Bills or Foothill/Eastern Transportation Corridor fee program. Subdivisions in which right -of -way, grading and improvements are required for the transportation corridors will be eligible for credit toward payment of the MTBB fees to the extent that the costs are included in development of the fee program. whenever subdivisions are conditioned to grade or improve portions of transportation corridors or dedicate right - of -way in excess of Major Arterial Highway Standards, and these costs exceed fees, the developer shall enter into an agreement prior to recordation of final tract or parcel maps to identify the difference in the dollar amount between the estimated costs of the grading, improvements, and /or right -of -way, and the calculated fees. Such agreements will establish the amount of reimbursement for which the subdivision is entitled. A developer shall be entitled to reimbursement for a period of fifteen (15) years after acceptance of improvements by the appropriate legislative body. If the estimated costs of the grading, improvements, and /or excess right of way are less than the calculated fee, a developer may relinquish credits in lieu of paying fees until credits are fully utilized with the remainder of the fee collected prior to issuance of building permits. In the event a development not requiring subdivision is conditioned to construct or grade portions of the transportation corridors or dedicate right -of -way, reimbursement agreements shall be executed prior to issuance of any building permits within the project boundaries. Developers will be allowed to apply credits earned on one project to another project within the same area of benefit owned by the same developer. In the event title to the land of a project changes, credits can be transferred to another developer with the title to the land upon written notification to the appropriate legislative body that is a party to the reimbursement agreement. Credits will otherwise be non transferable from one developer to another. Credits can be used for the purpose of reducing fees prior to completion and acceptance of grading, improvements or right -of -way dedication. However, no reimbursements shall be made until all grading, improvements or dedication are completed and accepted by the Board of Supervisors or City Council and funds are available for reimbursement as determined by the appropriate legislative body. The guidelines for determination of fee credits are as follows: 1. General Credit for right -of -way dedication, grading, and other improvements will only be given to the extent that the cost of such right -of -way or improvements are included in the calculation of fees in the Major Thoroughfare and Bridge Fee Program. -22-