Loss of Building Efficiency Due to Take of Expansion Site Sample Clauses

Loss of Building Efficiency Due to Take of Expansion Site. Sound Transit acknowledges that use of the Xxxxx site will restrict the University’s ability to expand Xxxxx Xxxx. Sound Transit agreed to pay for a study to assess the increased cost of the Xxxxx Xxxx expansion project caused by Sound Transit’s project. The parties agree that the increased cost based on current zoning requirements is $1,400,000 damages to building development potential. Sound Transit agrees to pay this amount to the University by the date for possession and use under Article V of this Agreement. The parties acknowledge that any compensation provided herein may not be an eligible Federal project cost. However, Sound Transit’s responsibilities to the University under this section are not diminished or negated if this compensation is deemed by FTA not to be an eligible Federal project cost. Sound Transit has expressed an interest in supporting a height increase at the Xxxxx expansion site to create more development capacity. At this point, a height increase is speculative, because it would require action by the City of Seattle. There is insufficient information to pursue this height increase issue at this time. Further consideration is needed in order to determine the feasibility and desirability of a height increase. The increase under consideration should raise the height limit from 65 feet to 90 feet for the Xxxxx expansion site, and should be a transferable development right that could be used elsewhere within the campus zone containing Xxxxx Xxxx.
Sample 1
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