HomeMy WebLinkAboutAgreement to Accept Payment in Lieu of Streetlights for CarMaxAGREEMENT TO ACCEPT PAYMENT IN LIEU OF INSTALLING STREETLIGHT
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CARMAX AUTO SUPERSTORE'"
THIS AGREEMENT for streetlight installation, made this 10 day of ,r, 2015 between the City
of Meridian, a municipal corporation organized under the laws of the State of Idaho, whose address
is 33 East Broadway Avenue, Meridian, Idaho (hereinafter "City"), and CarMax Auto Superstores
West Coast, inc, 12800 Tuckahoe Creek Parkway, Richmond, VA 23238 (hereinafter "CarMax").
WHEREAS, CarMax has received from City, conditional approval of the for the CarMax
Superstore at 4043 E Elden Gray Ln in Meridian ID, case no CZC-15-038; and,
WHEREAS, one of the General Requirements of City's approval of CZC-15-038 is to install
street lights on all public roadways per the City of Meridian Improvement Standards for Street
Lighting; and,
WHEREAS, the Ada County Highway District is designing road widening improvement for this
section of Fairview Ave and, Carmax is currently unable to install the three required streetlights on
Fairview Ave. in a location where they will not need to be relocated during the road widening
project; and,
WHEREAS, when this section of Fairview Ave. is widened, City is willing to install the
required streetlights if CarMax has paid to City the estimated amount necessary to install the
streetlights.
NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. CarMax shall pay to City the amount of $18,150 as the amount necessary to supply, wire,
and install three, 250 Watt high-pressure sodium, Meridian City Type -1 Street Light with 12
foot mast arms.
2. City agrees to accept the amount set forth in Article 1 in lieu of requiring CarMax to install
the 30' streetlight on Fairview Ave. in front of the development.
3. Upon payment of the amount in Article 1 by CarMax to City, CarMax's requirement to install
the three 30' streetlights on Fairview Ave. shall be considered satisfied.
4. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their heirs, successors and assigns, and shall survive any transfer by CarMax of CarMax
Property.
IN WITNESS WHEREOF, the parties shall cause this Agreement to be executed by their duly
authorized officers the day and year first above written.
CARMAX AUTO SUPERSTORES WEST COAST, INC. CITY OF MERIDIAN
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By: By r) �
Dan Bickett, Vice President of Construction, T&fflff ff 4eAveef drmayef_
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