Credits Against Connection Fees Sample Clauses

Credits Against Connection Fees. Redeveloper shall receive a dollar for dollar credit for all Public Improvements to the water distribution system, exclusive of the cost of the well(s) or connecting the well to the distribution system, and sewer collection systems undertaken, installed and/or constructed against all water and sewer connection fees, which shall be calculated at the lesser of the then current rate or the rate in effect on November 30, 2017. By way of example, if the sewer and water connection fees totaled one million dollars ($1,000,000) and Redeveloper spends more than one million dollars ($1,000,000) to install the sewer and water lines into, out of and within the Project, the Borough would not collect any connection fees. If Redeveloper spends less than one million dollars ($1,000,000), then the difference between the one million dollars ($1,000,000) and the actual cost would be charged to Redeveloper as the balance for connection fees. The dollar for dollar credits do not apply to the cost of replenishing the Borough’s well reserve capacity, which cost to the developer is capped at two million dollars ($2,000,000). Additionally, Redeveloper shall reimburse the Borough for the costs or fees, if any, imposed by the Raritan Township Municipal Utilities Authority.
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