(a) Capacity Improvements at the Designated Intersections and Estimated Cost Thereof. The following capacity improvements were identified in the EIR (pages IV.B-50 through 85) and in Chapter 4.3, Section 5(a) of the Environmental Impact Report for the 1998-2010 Comprehensive Plan.
Intersection | Number and Name | Capacity Improvement* | Est. Cost ($)** |
B-5 | Page Mill Expressway/Hanover Street | Add southbound right-turn lane; restripe northbound approach | 1,072,469 |
C-1 | Middlefield Road/Oregon Expressway | Add north- and south-bound left-turn lanes | 1,212,617 |
new | Foothill Expressway/ Arastradero/Miranda | Add additional westbound lane on Arastradero at Miranda to provide two left-turn lanes and a right turn lane at Foothill | 4,598,554 |
D-2(a) | Page Mill Expressway/El Camino Real | Add right-turn lanes all approaches | 7,807,133 |
Total Estimated Cost of Capacity Improvements | $14,690,773 | ||
Notes:
* Full descriptions of the capacity improvements are contained n Chapter 4.3, Section 5(a) of the EIR for the 1998-2010 Comprehensive Plan.
** The estimated cost of the capacity improvements reflect the EIR estimates, revised in accordance with current rates, as set forth in a report entitled "Estimated Cost of Capacity Improvements for Stanford Research Park/El Camino Real Service Commercial (CS) Zone," prepared by Korne Engineering, June 2001.
(b) Estimated Development. Approximately 1,794,000 gross square feet of new development is estimated to occur under the zoning regulations established for the area. This figure represents the realistic, long-term, maximum development potential of the area, taking into consideration the existing roadway network, the planned capacity improvements and the planned transportation demand management program.
(c) Calculation of Fee. In order for new nonresidential development in the area to bear proportionately the cost of the identified capacity improvements, such new development shall pay a fee of $8.20 per gross square foot of development, determined by dividing the total estimated cost of $14,690,773.00 by the total permitted new development of 1,794,000 square feet. This fee shall be adjusted annually on July 1 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 in full to the city building inspection division prior to issuance of the building permit for the development. If no building permit is required for a change of use, the fee shall be paid in full prior to issuance of a certificate of use and occupancy.
(e) Special Fund. There is established a special Stanford Research Park/El Camino Real CS Zone Fund into which all fees, and any interest thereon, collected pursuant to this chapter, shall be deposited in a separate capital facilities account in a manner to avoid any commingling of the fees with other revenues and funds of the city. Upon receipt and entry to the accounting records for the fund, such moneys shall be considered committed to the designated improvements or alternative improvements in accordance with subsections (f) and (g) hereof.
(f) Use of Fund. The moneys in the fund shall be eligible for expenditure only for the capacity improvements at the designated intersections, as direct expenditures, or reimbursements if improvements are constructed prior to deposit of moneys into the fund, or for alternative improvements or alternative intersections that are determined by the chief transportation official, subject to the approval of the city council, to provide adequate feasible alternative mitigation of those impacts addressed in the EIR that are proposed to be mitigated by the capacity improvements in subsection (a) hereof. In no event shall fund moneys be used for regular road maintenance. The priority for spending moneys in the fund among the eight intersections shall be determined by the chief transportation official.
(g) Budget Approval. The uses proposed for expenditure by the moneys in the fund shall be reviewed annually by the city council along with its review of the capital improvement program, and fund moneys shall be appropriated for such expenditure in the manner provided for adoption of the annual budget by the charter of the city.
(Ord. 4744 § 1, 2002: Ord. 3894 § 1 (part), 1989)