Fee Credit or Reimbursement for County Facility Sites Upon Acceptance. The Developer may be entitled to a fee credit or reimbursement for County acceptance of offers of land dedication for County Facility Sites as described in Section 3.10 above, pursuant to the County Public Facility Fee as further described in the Placer County Code, Section 15.30. Subject to compliance of the implementing ordinance for Public Facility Fee, the Developer may receive fee credits or enter into a reimbursement agreement upon acceptance by County of irrevocable offers of dedication for individual County Facility Sites. Developer acknowledges that the County may elect to accept an offer of dedication less than the entire County Facility Site originally recorded for dedication and that such credits or reimbursements shall be attributed to the Development Group and not the individual Developer. The Developer has valued the County Facility Sites at $135,000 per acre for the Sheriff Substation, Government Center, Library, Transit Center, and portion of the Corporation Yard outside of the existing overhead power lines. The portion of the Corporation Yard site under the existing overhead power lines has been valued at $13,500 per acre. The Developer and Development Group anticipate that the value of the County Facility Sites will increase annually by the same index as the County Public Facility Fee is indexed at. At the time of acceptance of individual County Facility Sites by the County, and subject to compliance with the County Public Facility Fee implementing ordinance, the Development Group may be entitled to a fee credit or reimbursements equal to the lesser of the value of the number of acres of the individual County Facility Site multiplied by the indexed original value of the individual County Facility Site; or the fair market value of the individual County Facility Site for use by the County. It is understood by all Parties, that the County will not provide fee credits or reimbursements in excess of the market value of the County Facility Site for government use. The Development Group shall be solely responsible for distributing fee credits or reimbursements to the Participating Developers in accordance with the proportionate shares allocated thereto under the Land Equalization Fee Program for such dedicated sites.
