Resolution 2015-13 - Laserfiche WebLink

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standards_and agreements, subject to any reimbursement which may be provided for in such ordinances,resolutions, standards,and agreements; to make such other improvements as required by City ordmances and resolutions; to guarantee construction of all required improvements; and, if requested by Louisville, to dedicate to Louisville any or all other improvements required by City ordinances and resolutions and other applicable standards. 9. Public Improvements — Streets. Owner shall at its expense design and construct (i) Hecla Dnve from Highway 42 through the Property to connect with the existing Hecla Dive west of the Property; (n) Kayla Avenue for its full length north-south through the Property; and (iii) all Highway 42 street improvements along the full frontage of the Property, including without limitation, piping of existing ditches The foregoing improvements shall be completed ' with the first phase of public improvements for development of the Property, in accordance with the approved final plat(s) and associated subdivision agreement(s) and City-approved construction plans. 10. Traffic Signal. Owner shall be responsible for and shall pay or reimburse the City for 50%of the cost of a traffic signal installation at the intersection of Hecla Drive and Highway 42. In fulfillment of such obligation, Owner shall pay to the City, within 30 days of the date of CDOT's issuance of its written approval for the traffic signal installation, an amount equal to 50% of the then-current City engineering estimate of cost of the traffic signal installation based upon a mutually acceptable industry standard for cost estimating. The City shall apply such funds to capital costs mcurred for installation of the traffic signal. 11. Trail Improvements. Owner shall at its expense design and construct trail connections and improvements throughout the Property connecting, m accordance with the approved final plat(s), to existing and planned trails within the City. 'Such improvements shall include without limitation construction of the regional trail connection along the north boundary of the Property, which shall be completed with the first phase of public improvements for development of the Property, in accordance with the approved final plat(s) and associated subdivision agreement(s) and City-approved construction plans. Owner and the City agree to mutually support efforts to fund and construct-a pedestnan underpass to connect the regional trail along the north boundary of the Property with regional trails east of Highway 42. 12. Fee Waivers; Other Assistance. In accordance with longstanding policy supporting City assistance with impact fees and related costs of affordable housing development, and in exchange for Owner's commitments m this Agreement regarding age-restricted housing, affordable housing, and tenant selection preferences, as well as dedication of Owner's property to the City and design, construction, and guarantee,of the public 'improvements described in sections 8, 9, 10,and 11, Louisville agrees to work with Owner m good faith to reach a mutually satisfactory agreement within 60 days of execution of this Agreement as to a schedule of waived, reduced, or deferred City plan review fees, permit fees, or other appropriate financial incentives by the City Such other financial incentives may include,without limitation, sharing the costs of public infrastructure the Owner is required to construct. Any Isuch proposed agreement shall be subject to separate approval by governing bodies of the BCHA and City. Failure of the parties to reach agreement on a financial incentive package shall not affect the requirements of paragraphs 6.a through 6.c of this Agreement, which requirements may only be released by separate,written amendment to this Agreement or as required by law 5