Future Road Improvements. Section 13(b) of the Development Agreement is hereby deleted in its entirety and replaced with the following: (1) Foxbank shall provide a recent Traffic Impact Analysis upon execution of this Second Amendment. This TIA must incorporate all existing and permitted future development (i.e. Heartland Dental) and must be an 8 hour warrant analysis performed while school is in session and ▇▇▇▇▇▇’▇ is open. (2) At such time as the Property Owner applies for a building permit of 30,000 SF or more of gross floor area for one tenant. (3) At such time as the Property Owner reaches 25%, 50%, and 75% of the total acreage of 45.09 acres being developed. The analyses shall be reviewed by SCDOT and the Property Owner shall be responsible to construct any improvements or mitigations required by SCDOT at their own expense, but subject to reimbursement by the terms of paragraph 4, below. Property Owner agrees to construct a traffic signal at the Intersection, which meets the Town’s design for mast arms, subject only to SCDOT approval. Design, engineering, and construction of said signal must occur in a timely fashion. Upon the completion of the installation of the traffic signal, the Town or SCDOT shall accept, operate, and maintain the traffic signal, and the Property Owner shall be released from all obligations, responsibility and liability for the traffic signal. Any delay in intersection improvements caused by the Property Owner may result in the Town withholding permits or Certificates of Occupancy to projects located on the property. At such time as a Traffic Impact Analysis is required by this amendment, no building permits shall be issued for any projects on the property until such time as the analysis is complete, reviewed by SCDOT, and measures are in place to meet any required improvements or mitigations.
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Future Road Improvements. Section 13(b) of the Development Agreement is hereby deleted in its entirety and replaced with the following: F uture Road Improvements. The Parties agree that in order to more effectively accommodate the vehicular traffic associated with the known development plans for the region, including the Project, additional road improvements shall be a top priority. As such, the Property Owner agrees to perform regular Traffic Impact Analyses in order to ensure that road improvements are made at such time they are warranted. Such analyses will include an eight (8) hour traffic signal warrant analysis for the intersection of Foxbank Plantation Boulevard and U.S. Highway 52 (the “Intersection”) and must be performed while school is in session. Such analyses are required at the following times; provided, however, that no more than one traffic study is required per year:
(1) Foxbank shall provide a recent Traffic Impact Analysis upon execution of this Second Amendmentby December 31, 2021. This TIA must incorporate all existing and permitted future development (i.e. Heartland Dental) and must be an 8 hour warrant analysis performed while school is in session and ▇▇▇▇▇▇’▇ is open.
(2) At such time as the Property Owner applies for a building permit of 30,000 SF or more of gross floor area for one tenant.
(3) At such time as the Property Owner reaches 25%, 50%, and 75% of the total acreage of 45.09 acres being developed. The analyses shall be reviewed by SCDOT and the Property Owner shall be responsible to construct any improvements or mitigations required by SCDOT at their own expense, but subject to reimbursement by the terms of paragraph 4, below. Property Owner agrees to construct a traffic signal at the Intersection, which meets the Town’s design for mast arms, subject only to SCDOT approval. Design, engineering, and construction of said signal must occur in a timely fashion. Upon the completion of the installation of the traffic signal, the Town or SCDOT shall accept, operate, and maintain the traffic signal, and the Property Owner shall be released from all obligations, responsibility and liability for the traffic signal. Any delay in intersection improvements caused by the Property Owner may result in the Town withholding permits or Certificates of Occupancy to projects located on the property. At such time as a Traffic Impact Analysis is required by this amendment, no building permits shall be issued for any projects on the property until such time as the analysis is complete, reviewed by SCDOT, and measures are in place to meet any required improvements or mitigations.
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