Bike Sharing Program Clause Samples

Bike Sharing Program. Developers shall participate in any bicycle sharing program operated by the City or any third party operator as required by this Section. Developers shall set aside two areas within the Open Space for bicycle sharing stations that are visible, accessible and compatible with the operation of the Project. The two areas shall not be required to exceed ten (10) feet in depth and twenty-five (25) feet in width. The Developers or the Owners’ Association shall have the right to relocate the areas made available for such bicycle sharing station, subject to the approval of a Minor Modification from the Planning Director, from time to time so long as the new location continues to be of a similar size and reasonably located given the requirements of the bicycle sharing program. On the Initial Contribution Date, Developer of the Building receiving the first building permit shall make a contribution of $20,000 for use in connection with the funding of any bicycle sharing program implemented or to be implemented by the City or any third party with the approval of the City. Beginning in the year following the Initial Contribution Date, and continuing for the Life of the Project, Developers shall make an annual contribution for such purpose concurrently with the submittal of Developers’ annual compliance monitoring report in an amount equal to $8,000 for each Building in the Creative Office Phase for which a Certificate of Occupancy has been issued plus $3,000 for each Building in the Residential Office Phase for which a Certificate of Occupancy has been issued up to a maximum annual aggregate amount for all Developers of $25,000. Until a bicycle sharing program has been established, either by the City or by a third party with the approval of the City, the amounts required to be contributed hereunder shall be used for the funding of bicycle infrastructure or other bicycle programs in the City. Neither any Developer nor the Owners’ Association shall have any obligation to fund or operate any such program or incur any costs associated with the installation, maintenance or operation of any equipment located in the bicycle sharing station except to the extent provided by this Section.