Traffic tfee Clause Samples

Traffic tfee. As a condition of the issuance of building permit for each residential dwelling unit within the boundaries of the P roperty, Developer shall pay City a one-time traffic mitigation fee as described herein ("Citywide Traffic tfee"). The Citywide Traffic tfee may be expended by City in its sole and unfettered discretion. The amount of the Citywide Traffic tfee shall be Twelve Thousand tfive Hundred Dollars ($ 12 ,500.00) per residential unit. The Citywide Traffic tfee shall be adjusted annually commencing January 1, 201 9 and annually thereafter by the change in the Caltrans Highway Bid Price Index (Bid Price I ndex) for Selected California Construction Items for the twelve (12) month period available on December 31 of the preceding year ("annual indexing"). In the event there is a decrease in the Bid Price I ndex for any annual indexing, the current amount of the fee shall remain until such time as the next subsequent annual indexing ,which results in an increase.