Development Agreement Fee Clause Samples

Development Agreement Fee. On the Effective Date of this Agreement and on each anniversary thereafter, the Developer shall pay to the City a Development Agreement Fee as follows: 3.2.1 Twenty dollars ($20.00) per gross square foot of floor area (1,440 square-foot lease space) within any building, facility or structure utilized for the proposed Cannabis Business. Beginning on the first anniversary of the Effective Date, and annually thereafter, the portion of this Development Agreement Fee shall be automatically adjusted based on the average percentage change in the Consumer Price Index (CPI) for “all urban consumers” in the Riverside-San Bernardino-Ontario area, or a subsequent Consumer Price Index (CPI) area covering the City, for the previous January to December period. 3.2.2 In addition, the following amounts shall be paid to the City based on the annual gross receipts of the Cannabis Business commencing on the first anniversary of the Effective Date of this Agreement and annually thereafter as follows: 3.2.2.1 1st anniversary through 5th anniversary: 3% of gross receipts. 3.2.2.2 6th anniversary through 20th anniversary: 5% of gross receipts, unless the City and Developer agree to a different amount and as approved by the City Council prior to the 6th anniversary of the Effective Date. 3.2.3 City and Developer hereby agree to engage in good faith negotiations during the 5th year of this Development Agreement regarding the Development percentage fee noted above. 3.2.4 The City shall have the power to audit and examine all books and records of the Developer, as well as persons engaged in the operation of the Cannabis Business, including both state and federal income tax returns, California sales tax returns, or other evidence documenting the gross receipts of the Cannabis Business for the purpose of ascertaining the amount of the Development Agreement Fee required to be paid by Developer under this Section. 3.2.5 In the event that during the Term of this Agreement the voters of the City approve a cannabis tax, then the Development Agreement Fee shall no longer be due and payable from the date the cannabis tax takes effect through the remainder of the Term.

Development Agreement Fee. Upon issuance of a certificate of occupancy for a Unit within the Project, Owner shall pay to the City a one-time City and Owner agree that no “Development Agreement Fee of Two Thousand Five Hundred Dollars ($2,500.00) for” shall be required for the first twelve (12) years after Effective Date and thereafter, the Development Agreement Fee shall be fixed at two-thousand and five hundred ($2,500) per residential certificate of occupancy until 16th anniversary of the Effective Date; and then from the start of year 17th year through the end of the 20th year $5,000 per residential certificate of occupancy. The Development Agreement Fee beyond the 20th year through the end of the Term shall be the fee in affect at that Unittime.

Development Agreement Fee. Provided that all of the Developer Parties both enter into this Development Agreement or a substantially similar agreement and convey at no cost to the City or the City’s designee fee title to the City Conveyance Parcels located with each Developer Party’s Parcel in accordance with Section 8.1 below on or before August 31, 2005, the Developer Parties shall pay or cause to be paid to City the aggregate sum of Two Hundred Million Dollars ($200,000,000) (“Development Agreement Fee”) to reimburse City its costs in developing and processing the Great Park Plan, as payment for processing the Master Subdivision Map, and as partial payment for the development of the Park Site, the Sports Park Site, and other Project infrastructure, and such other uses and purposes as may be determined by City in its sole and absolute discretion. The portion of the Development Agreement Fee payable by each Developer Party shall be as follows: Developer I $48,000,000 (24% of $200,000,000) Developer II $54,000,000 (27% of $200,000,000) Developer III $68,000,000 (34% of $200,000,000) Developer IV $30,000,000 (15% of $200,000,000) The Development Agreement Fee shall be paid in installments with the first installment paid concurrently with the execution and delivery of this Agreement, the second installment paid thirty (30) days after the Effective Date, the third installment paid upon each Developer Party’s recordation of its first final subdivision map following the recordation of the Master Subdivision Map or the date that is one (1) year after the Effective Date, whichever occurs first, and the fourth installment paid upon the issuance of each Developer Party’s first building permit or the date that is two (2) years after the Effective Date, whichever occurs first. Payments of the Development Agreement Fee shall be made by wire transfer of funds, or by a cashier’s or certified check issued by a California institution.

Development Agreement Fee. Pursuant to Chapter 7 of the City’s Ordinance No. 19-1931 (“DIF Ordinance”), which establishes the City’s required Development Impact Fees (“DIF”) required for any project development within the City, development projects upon property owned by the Authority, may be exempt from the terms and provisions of the DIF Ordinance. As such, and notwithstanding anything to the contrary under the DIF Ordinance, the Developer shall pay a “Development Agreement Fee” in the amount of $7,500,000 to the City, which constitutes an increase in the DIF amount that the Developer would be otherwise obligated for under the City’s DIF Ordinance. Such Development Agreement Fee shall become an obligation of Developer upon the Effective Date of this Agreement, but the timing of the payment shall be determined pursuant to subsequent documentation / agreements between the City and the Developer. As such, and notwithstanding anything to the contrary herein, Developer shall not be required to pay any DIF pursuant to the DIF Ordinance given Developer’s agreement to pay the City the Development Agreement Fee.‌

Development Agreement Fee. Following recordation of this Agreement, Community Development Division will invoice Owner the sum of $5,000.00, as the development agreement fee per City Code. Owner will pay such fee to City prior to issuance of a permit for construction of the Pond.

Development Agreement Fee. Upon issuance of a certificate of occupancy for a Unit within the Project, Owner shall pay to the City the applicable Development Agreement Fee pursuant to Section 17.100.030 of the City’s Municipal Code as written on the Agreement Date as set forth below:

Development Agreement Fee. Owner paid the Development Agreement Fee of $63,650.00 in September 2017.

Development Agreement Fee. Upon issuance of a certificate of occupancy for a Unit within the Project, Owner shall pay to the City the applicable Development Agreement Fee pursuant to Section 17.100.030 of the City’s Municipal Code as written on the Agreement Date as set forth below: A development agreement fee shall be imposed on all new privately-constructed buildings subject to a city building permit on properties affected by a development agreement as a condition for issuance of said building permit. The development agreement fee shall be calculated as two percent (2%) of the construction project valuation of the new building, as determined by the city's building official at the time the building permit is issued. Affordable dwelling units shall be exempt from the Development Agreement Fee.

Development Agreement Fee. Upon issuance of a certificate of occupancy for a Unit within the Project, Owner shall pay to the City a one-time Development Agreement Fee of Two Thousand Five Hundred Dollars ($2,500.00) for that Unit.