95-137 - Boeing - Longacres Park Transportation Mitigation

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Longacres Park Mitigation Agreement 12/6/95 Page 3 moneys will be expended. Option 2 provides for incremental payments of the Tukwila Mitigation Fees to mitigate the impacts caused by specific phases of Alternative 1. The two options are as follows: 3.1 Option 1- December 31, 1995 Payment The total Tukwila Mitigation Fee will be discounted from $1,029,560 to $830,000 if the total fee is paid before December 31, 1995. If Boeing chooses to construct an alternative for the Longacres Park office development other than Alternative 1, fees paid under Option 1 will be credited against any fees assessed to mitigate the transportation impact of that alternative 3.2 Option 2 Incremental Payments Tukwila Mitigation Fees will be assessed against each phase of Alternative 1 in accordance with the specific impact resulting from that phase; provided, that the total Tukwila Mitigation Fee shall not exceed $1,029,560, unless, additional fees are imposed pursuant to Section 5 as set forth below. 4. Status of Transportation Projects The parties acknowledge that several projects referenced in Section 2 of this Agreement are currently being designed or constructed and in some cases have already been completed. The current status of such projects shall in no way impact Tukwila's authority to collect mitigation fees under this Agreement. 5. South 158th Street Limitations, Monitoring, Review The AM and PM peak hour trips for South 158th Street which are attributable to and that may be utilized by the Office Park development shall be limited to 390, which is the "existing condition" for South 158th Street as set forth in the Draft Transportation Element of Tukwila's Draft Comprehensive Plan (1993) Notwithstanding the foregoing, capacity on South 158th Street for AM and PM peak hour trips exceeding 390 that is created as a result of South 158th Street improvements may be utilized by, and only by, the entity financing those improvements. Improvements that may be necessary to increase the number of PM peak hour trips on South 158th Street to accommodate additional traffic generated by Alternative 1 shall be identified through the environmental review process for each phase of development. Tukwila shall periodically monitor AM and PM peak hour traffic volumes on South 158th Street to ensure that limitations are not exceeded by any specifically identifiable entity using the right -of -way. Monitoring will occur at least annually and more frequently if volumes approach the maximum peak hour trips. Monitoring methodology shall be consistent with traffic engineering practices and shall be mutually agreed upon by both parties prior to initiating any monitoring effort. In the event that peak hour limitations are exceeded, Tukwila reserves the right to review the need for additional improvements and to assess additional impact mitigation fees against the entity creating the unmitigated traffic impacts and any such additional impact fees shall be in addition to and not withstanding the total fees provided for in Section 3.2 above.