Common use of Capacity Reservation Clause in Contracts

Capacity Reservation. Upon approval of this Preliminary Plat attached as Exhibit H and the execution of the Proportionate Fair Share Agreement, all necessary roadway capacity for the full development of the Property as outlined in the Studies shall be reserved by the City. The capacity reservation shall remain in effect until the expiration of this Agreement, or until December 31, 2025, whichever occurs sooner. Any amendment to the Property which increases the traffic impacts of the Project beyond those identified in the Studies shall require additional concurrency review and mitigation may be required for the increased impacts.

Capacity Reservation. Upon approval of this Preliminary Plat attached as Exhibit H and the execution of the Proportionate Fair Share Agreement, all necessary roadway capacity for the full development of the Property as outlined in the Studies shall be reserved by the City. The capacity reservation shall remain in effect until the expiration of this Agreement, or until December 31, 2025, whichever occurs sooner. Any amendment to the Property which increases the traffic impacts of the Project beyond those identified in the Studies shall require additional concurrency review and mitigation may be required for the increased impacts. The City agrees to issue the required permits for development of the Property in the manner set forth in this Agreement and the LDC.