Laserfiche WebLink
3. Dis os on of Transportation Sy m <br />Improvement Development Fees <br />(a) As used herein, "development fee" means a fee <br />imposed and paid to the Authority on any development (as <br />hereinafter defined) occurring within TSIP Areas A or B, the <br />expenditure of such fee revenues being limited to areawide <br />transportation system improvements benefiting such TSIP Area. <br />Until such time as the parties hereto change their development <br />fee to the levels to be -recommended by the Authority pursuant to <br />section 4C of this Agreement, each party shall adopt and maintain <br />ordinances and /or resolutions imposing development fees as <br />follows: In Santa Ana, the minimum fee for TSIP Area A shall be <br />--- - - - - - -- <br />$4.52 per square foot of gross floor area for any development, <br />and the minimum fee for TSIP Area B shall be 2$ of the cost of 11 _.- .- 11 construction for any development. In Tustin the minimum fee for <br />Area A shall be 2$ of the cost of construction for any <br />development and the minimum fee for Area B shall he an amount per <br />square foot of gross_floor area for any development, which amount <br />shall be $2.60 for commercial /office development, <br />$1 80 for "R & <br />D' development, and $1.00 for industrial development. The <br />parties hereto agree to have ordinances and /or resolutions <br />conforming to the foregoing in place by January 1, 1990. At such <br />time as the parties hereto receive recommended fee levels from <br />the Authority pursuant to section 4C of this Agreement, each <br />party shall adopt or amend its ordinances and /or resolutions to <br />impose development fees in accordance with such recommendation, <br />except that a party shall not be obligated to adopt a fee <br />recommended by the Authority if it determines in good faith that <br />9 <br />