Transit Improvements. 1) The Developer Owner or Representative shall make an annual contribution of $0.02 per square foot of completed heated building area to help fund transit service to the Property and Southern Village area. This contribution shall be made for the term of this Agreement and shall be adjusted each year on July 1st for any new buildings completed in the past twelve (12) months. The payment shall be made no later than September 1st of each year.
Transit Improvements. The Developer Owner or Representative shall make an annual contribution of $0.02 per square foot of completed heated building area to help fund night and weekend transit service to the Property and Southern Village area. This contribution shall be made for the term of this Agreement and shall be adjusted each year on July 1st for any new buildings completed in the past twelve (12) months. The payment shall be made no later than September 1st of each year. The first payment shall be made upon issuance of the first Certificate of Occupancy; The $0.02 contribution shall be adjusted annually with the Consumer Price Index (CPI) category “all urban consumers”; All payments made from three years after the Effective Date of this Agreement, provided a Certificate of Occupancy for the Developed Property has been issued, shall be no less than $10,000. A bus pull-out shall be constructed between Sumac Road and Market Street along the northbound lanes of US 15-501, in a location to be agreed upon with Chapel Hill Transit and the Town Manager. Bus facilities shall be built to the standard required by Chapel Hill Transit and shall accommodate any future design related to the implementation of bus rapid transit service. If desired by Chapel Hill Transit, a second bus pull-out along the northbound side of US 15-501 shall be constructed near the southern boundary of the Developed Property prior to the Certificate of Occupancy for the southern-most building in the project. Other Transportation-Related Contributions. A contribution of $125,000 shall be made prior to the approval of the first Development Agreement Compliance Permit. The Council may choose to use the funds for the following improvements: A traffic study and/or installation of traffic calming measures on Dogwood Acres Drive, provided that: State statute and NCDOT requirements have been met for formation by the property owners on and around Dogwood Acres Drive of a legal entity to do the following: Petition NCDOT for traffic calming; Maintain the traffic calming improvements. Design and installation a pedestrian and bicycle crossing of US15-501/Fordham Blvd. at Oteys Road, including the provision of a HAWK signal, as shown in Exhibit I. At a future date, the Council may make a determination on which improvements to fund and at what level.
Transit Improvements. The following Transit Improvements are contemplated (the “Transit Improvements”). • New Penn Station tracks and platforms and public entrances; below-grade connections beneath W 31st St to Penn Station • New Penn Station/subway entrance and underground passageway to IND mezzanine within W 33rd St side of building; new subway entrance within W 34th St side of building, accompanied by an Americans with Disabilities Act (ADA)-complaint elevator; one new and two widened express platform stairs; two new uptown local platform stairs; one reconfigured fare control area; and widening of uptown local C/E platform between W 33rd St and W 34th St • New Penn Station/subway entrance within Seventh Av and W 34th St corner of building, accompanied by escalators and an elevator, as well as new connections between Penn Station and the subway underpass and the fare control area at 34th St; new subway entrance within W 33rd St side of building; and relocating/widening downtown local No. 1 platform stairs, accompanied by an elevator, between W 33rd St and W 34th St • New north–south underground concourse, new subway/concourse entrances within W 33rd and W 34th St sides of building; widening stairs from 33rd St underpass; widening 33rd St paid-zone stairs together with relocating an elevator; and widening of uptown local No. 1 platform between W 33rd St and W 34th St • New north–south underground concourse; new east–west underground passageway (either constructing a new corridor in the area of the closed Gimbels Passageway or a new passageway beneath Sites 7 and 8) connecting the Herald Square and Seventh Avenue Subway Stations with access to Site 7; widening paid-zone stairs at west end of 32nd St underpass; new subway/concourse entrances within W 32nd and W 33rd St sides of building; adding a new elevator adjacent to the new W 33rd St entrance; new express No. 2/3 platform stairs at the north and south ends of the station, along with a new fare control area at the 33rd St underpass; and widening of uptown local No. 1 platform bet W 32nd St and W 33rd St; additionally, as part of Penn Station improvements undertaken by the MTA, widening the downtown local No. 1 stairs to Penn Station Level A with enlarged fare control area and adding new connection/fare control area to downtown local platform • Enhancing/connecting to Site 7’s east–west underground passageway; new street-level stairs/escalator, accompanied by an elevator, on W 33rd St side of building; reconstructing street- ...
