Traffic Signal. Developer shall fund and install a new traffic signal at the Project entry location on Avalon Boulevard between the I-405 interchange and 213th Street, in accordance with plans approved by the City’s Director of Public Works or his or her designee, which shall include approval of the projected costs. Developer will be eligible for reimbursement of up to 50% of the approved costs of the new traffic signal by City upon completion of the comprehensive redevelopment of the ▇▇▇▇ site (located to the east of the Property, north of E. ▇▇▇▇▇ ▇▇. ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇. to the I-405 freeway). Developer shall submit plans for the traffic signal with an estimate of the cost prior to issuance of the first building permit issued for the Project and shall complete installation prior to issuance of the first Project certificate of occupancy.
Appears in 2 contracts
Sources: Development Agreement, Development Agreement