Intersection and Roadway Improvement Agreements (G.S. 160A-309) Sample Clauses

Intersection and Roadway Improvement Agreements (G.S. 160A-309). The Town may enter into reimbursement agreements with the Developer, a Parcel Owner, or a private party under contract with such Developer or Parcel Owner, for public intersection and roadway improvements that are adjacent or ancillary to any Development project on the Property. Prior to entering into any such reimbursement agreement, the Town shall determine that (i) the public cost will not exceed the estimated cost of providing for such improvements through either eligible force account qualified labor or through a public contract let pursuant to G.S. Article 8, Chapter 143, or (ii) the coordination of separately constructed public intersection or roadway improvements, and the adjacent or ancillary improvements to the applicable Development project, would be impracticable. Such reimbursement agreements shall not be subject to G.S. Chapter 143, Article 8 if the public cost will not exceed two hundred fifty thousand dollars ($250,000). Reimbursements to the Developer or a Parcel Owner may be paid or credited from any lawful source including, without limitation, development fee credits that may be applied to payment of otherwise applicable development fees charged by the Town and reimbursement from development fees paid to the Town by third parties.
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