Laserfiche WebLink
City of Tukwila My WebLink |HelpSearch Tips |About |Sign Out
Longacres Park Mitigation Agreement 12/6/95 <br />Page 2 <br />AGREEMENT <br />NOW, THEREFORE, in consideration of this and other good and valuable <br />consideration, the sufficiency of which is hereby acknowledged, the parties agree as <br />follows: <br />1. EIS Analysis <br />Mitigation measures set forth in this Agreement "Tukwila Mitigation Fees are <br />sufficient to mitigate impacts to the Tukwila transportation system of Alternative 1 as <br />analyzed in the Office Park EIS and summarized in the Renton Mitigation Document. <br />2. Basis of Mitigation/Mitigation Amount <br />The Tukwila Mitigation Fees have been calculated according to the methodology <br />set forth in the Draft Transportation Element in the City of Tukwila Draft Comprehensive <br />Plan (1993). Using this methodology, the vehicle trips, distribution of trips, and <br />corresponding mitigation payments generated by Alternative 1, were calculated as <br />follows: <br />Intersection <br />Location <br />Number of Cost per Mitigation <br />Veh. Trips Vehicle Trip Cost <br />1) Southcenter Pkwy/ Strander 156 140 21,840 <br />2) Andover Pk E /Strander 234 135 31,590 <br />3) Andover Pk W /Strander 117 377 44,109 <br />4) S 180 /SR 181 117 475 55,575 <br />5) Andover Pk E /Baker 0 377 0 <br />6) Andover Pk W /Minkler 117 392 45,864 <br />7) Southcenter Pkwy /S 168th 117 278 32,526 <br />8) W Valley /Strander 350 283 99,050 <br />9) Interurban Bridge Interchange 623 $1,122 699,006 <br />TOTAL TRIPS /FEES: 1,831 $1,029,560 <br />3. Payment <br />Because the construction of Alternative 1 is planned over a 10 -15 year period, <br />Tukwila has established two optional methods for payment of the Tukwila Mitigation <br />Fees. Boeing shall exercise, at its sole discretion, one of these options for payment of the <br />Tukwila Mitigation Fees. Option 1 recognizes the benefits to Tukwila of receiving the <br />total Tukwila Mitigation Fee in a single payment. In addition to the time value of money, <br />a single payment would provide Tukwila with a substantial amount of money at once, <br />thereby (a) avoiding the need to accumulate funds in smaller increments over a long <br />period of time before meaningful construction could begin and (b) facilitating the <br />acquisition of matching funds. Payment under Option 1 is nonrefundable and is not <br />subject to future rate increases. Boeing, as part of its decision to exercise Option 1, may <br />choose to negotiate with Tukwila to establish how, where, and when early payment <br />