Calculating Credits and Reimbursements. The “Country Club Drive Improvements Costs” include actual construction costs, offsite right-of-way costs (but no on-site right-of-way costs, nor costs for Xxxxxxx project right-of-way), design, engineering, environmental permitting and mitigation, construction management and other costs typically funded by the TIF Program. The Developer shall receive credits against the local improvement portion, less the Xxxxx Valley Interchange set aside amount (if any) of the TIF payable at the time of issuance of building permits, up to the total amount of the Country Club Drive Improvement Costs incurred for Phase I of Country Club Drive and for any and all environmental and wetland permitting costs incurred by Developer in securing permits necessary to the construction of Phase II. All other Phase 2 Country Club Drive Improvement Costs shall be reimbursed to Developer through the County standard reimbursement agreement over a five (5) year period from and after County acceptance of Phase 2. County shall not be required to issue credits pursuant to this section if doing so would impair the County's ability to meet its contractual obligation to make payments pursuant to reimbursement commitments existing as of the effective date of this Agreement.
Calculating Credits and Reimbursements. The “Country Club Drive Improvements Costs” include actual construction costs, offsite right-of-way costs (but no on- site right-of-way costs, nor costs for Xxxxxxx project right-of-way), design, engineering, environmental permitting and mitigation, construction management and other costs typically funded by the XXX Fee Program. The Developer shall receive credits against the local improvement portion, less the Xxxxx Valley Interchange set aside amount (if any) of the XXX Fees payable at the time of issuance of building permits, up to the total amount of the Country Club Drive Improvement Costs incurred for both Phases of Country Club Drive. To the extent that the Country Club Drive Improvement Costs exceed the amount of credits that can be used against the local portion of XXX Xxxx for the Project, Developer shall have the right either to assign remaining credits to other development projects within the XXX Fee Zone 8 or elect to have the remaining balance reimbursed to Developer through XXX Fee revenues or a combination of both credits and reimbursements.
