Establishment of District Impact Fee Sample Clauses

Establishment of District Impact Fee a. The Town agrees to impose an impact fee on new development that currently is located within both the Town and the District, or that in the future becomes located within the Town and the District, in accordance with the Impact Fee Schedule attached as Attachment 1, subject to inflation as set forth herein (“District Impact Fee”). The District Impact Fee shall be imposed on all new development for which a Development Permit application is submitted to the Town on or after January 1, 2021. On December 31 of each year to be effective for any District Impact Fees collected beginning on January 1 of the following year, or as soon as practicable thereafter, the fees set forth in the attached Impact Fee Schedule (or any Updated Impact Fee Schedule as defined below) shall automatically be adjusted by the increase, if any, in the Denver-Aurora- Lakewood Consumer Price Index for All Urban Consumers (CPI-U) over the preceding year.
Sample 1
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Establishment of District Impact Fee a. The City agrees to impose an impact fee on New Development that currently is located within both the City and the District, or that in the future becomes located within the City and the District, in accordance with the Impact Fee Schedule attached as Attachment 1 (“District Impact Fee”). The District Impact Fee shall be imposed on all New Development for which an application is submitted to the City on or after January 1, 2018. The District expressly understands and agrees that the City is not agreeing to or endorsing the reasonableness of the fees set forth in the Impact Fee Schedule, and that the District shall be solely responsible for the reasonableness of the fees set forth in the Nexus Study and the Impact Fee Schedule. No District Impact Fee shall be imposed to remedy any deficiency in Capital Facilities that exists without regard to the proposed development. Notwithstanding anything in this Agreement to the contrary, no District Impact Fee shall be imposed on any New Development for which an economic incentive agreement with the City has been approved by the City Council on or before October 17, 2017.
Sample 1

Related to Establishment of District Impact Fee

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