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(a) Estimated Improvements and Costs. The following operational improvements and their estimated costs were identified in the San Antonio/West Bayshore EIR:
(1) Feasibility study for a second left-turn lane on westbound Middlefield at San Antonio
(2) Right-turn lane on westbound Charleston at San Antonio (including feasibility study)
(3) Signalized intersection at Ford Aerospace driveway (including feasibility study)
(4) Interconnections of area traffic signals
(b) Estimated Development. Approximately four hundred fifty thousand gross square feet of new nonexempt development is allowed under the zonings established for the area.
(c) Calculation of Fee. In order for all new projects to bear proportionately the cost of the operational improvements in the area, a project shall pay a traffic impact fee of one dollar and twenty cents (five hundred forty thousand dollars divided by four hundred fifty thousand square feet) per gross square foot of development. This per-square-foot fee shall be adjusted on July 1, 1986 and annually thereafter by an amount equal to the change in the construction cost index for the preceding year, as determined by the Engineering News Record, the McGraw Hill Construction Weekly.
(d) Payment. The fee shall be paid as set forth in Chapter 16.64 of this code.
(e) Special Fund. A special San Antonio/West Bayshore Fund shall be established by the city where all traffic impact fees, and any interest thereon, collected pursuant to this chapter shall be held separate from all other city funds.
(f) Use of Funds. The moneys in the San Antonio/West Bayshore Fund shall be eligible for expenditure only for the operational improvements described in subsection (a) of this section or for alternative improvements in the area as determined by the chief transportation official, subject to the approval of the city council. In no case shall any of the moneys be used for regular road maintenance.
(Ord. 5400 § 3, 2016: Ord. 3665 § 1 (part), 1986)