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23 service, in coordination with Oakland International Airport’s Assistant Aviation Director, that operates between the Project site and key locations such as the San Leandro BART station and Oakland International Airport that will be made available to all of the land uses within the Shoreline development. The final TDM Plan shall specify responsible parties to administer each measure and enforcement provisions. 3.28. Community Facilities District. Developer shall cooperate with City in the formation of a community facilities district or districts by the City pursuant to the Mello Roos Community Facilities District Act of 1982 (Gov. Code §§ 53311–53368.3) (the “Mello-Roos Act”) in accordance with Section 1.5 of the DDA. Without limitation of the foregoing, the Developer acknowledges and agrees as follows: (a) Formation of CFD; Estimated Maximum Total Tax Rate. The CFD is anticipated to be formed prior to the conveyance of the Property from the City to the Developer. Accordingly, the City is anticipated to be the sole landowner-voter in connection with the formation of the CFD. The Special Tax shall be established for the CFD in an amount, determined in the sole discretion of the City, that is sufficient to finance all or a portion of the Public Improvements (via CFD bonds and/or pay as you go) and services determined necessary by the City for the Project that are authorized to be financed under the Mello-Roos Act, pursuant to a rate and method of apportionment prepared by the City’s special tax consultant; provided, that the estimated total annual taxes and assessments to be levied on each taxable parcel within the CFD shall not exceed (i) with respect to Single Family Element residential parcels, __% of the parcel’s projected assessed valuation based on a reasonable estimate of the sale price thereof, and (b) with respect to the Developer Hotel Element, Multifamily Element, Developer Restaurant Element and Market Element, $______ per square foot. The special tax shall include an annual escalator and shall have no sunset date. (b) Financing Public Improvements; Reimbursement of Expenses. The CFD may finance the design, acquisition and/or construction of Public Improvements necessary for development of the Project, which will include a share of the City’s estimated future sea level rise mitigation costs, that are eligible for financing under the Mello-Roos Act, some of which Public Improvements may be constructed by the City and some of which may be constructed by the Developer. Bonds are expected to be issued by the CFD to finance Public Improvements eligible for financing under the Mello-Roos Act, as determined by the City, in consultation with the City’s bond counsel, financial advisor and/or underwriter and subject to prevailing bond market conditions. The timing and amount of CFD bonds, if any, sold to finance the Public Improvements, and the prioritization of funding any particular Public Improvements, shall be in the sole discretion of the City. The parties agree that in connection with the issuance of CFD bonds, if any, to finance Public Improvements constructed and/or paid for by Developer to be acquired by the City, Developer and the City will enter into a funding and acquisition agreement in a form reasonably acceptable to the City’s bond counsel setting forth, among other things, the requirements for and mechanism by which the Developer would be reimbursed. The Parties may also be reimbursed from CFD special taxes and/or CFD bond proceeds for any costs advanced in connection with the formation of the CFD, the issuance of any CFD bonds and related CFD costs, in the sole discretion of the City.