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VI <br />The originally estimated corridor costs, subject to <br />adjustment as previously stated, and the portions <br />allocated to new development through the Major <br />Thoroughfare and Bridge (MT&B) fee program are: <br />New Development <br />Approximate <br />Total Cost Share of Cost % <br />San Joaquin Hills: $341,660,000 $165,500,104 48.4% <br />Foothill /Eastern: $516,147,000 $250,228,066 48.5% <br />In accordance with current Agency policy, new developments <br />within the path of the transportation corridors will be <br />conditioned to dedicate right —of —way and grade the corridor <br />within the boundaries of the development, construct arterial <br />overcrossings for internal arterial highways and construct <br />corridor travel lanes and interchange ramps required immediately <br />for access to the development or for closure of short gaps in <br />the transportation system. The estimated cost of these <br />improvements including the estimated value of R/W dedication in <br />excess of that required for a standard major arterial highway <br />(excluding slope easements) will be considered as a credit <br />against the required MT&B fees to the extent that these costs <br />are included in the fee program. <br />In order to establish an MT&B fee program, an Area of Benefit <br />(AOB) must be identified within which fees may be required upon <br />issuance of building permits or recordation of final maps to <br />defray the cost of the major thoroughfares and bridges. <br />Construction of the transportation corridors will provide key <br />facilities to ensure that the County's transportation system is <br />in balance with both existing and future land uses. The <br />benefits, therefore, accrue not only to those properties which <br />generate a high demand for use of the corridor but those which <br />will benefit from less congestion and delay on the arterial <br />highway and freeway system serving the property. Implementation <br />of a balanced transportation system, including the corridors, <br />will, furthermore, benefit undeveloped properties by allowing <br />approval of land use to the level in County and City General <br />Plans. <br />—12— <br />