Parkland Impact Fee Sample Clauses

Parkland Impact Fee. The Project will be subject to the park impact fee for apartment units at $5,000.00 per unit and shall be paid to the CITY prior to the issuance of the first building permit. The project includes a subdivision for condominium purposes that OWNER indicates may or may not be exercised. Should the OWNER determine to record a Final Tract Map and convert the apartment units to condominium units, OWNER shall pay the difference in fees between the initial $5,000.00 per unit park impact fee and the fee in place at the time of Map recordation for condominium units. The Tentative Tract Map shall remain valid for the term of this agreement and expire coterminous with this agreement if not exercised.
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Parkland Impact Fee. Each phase of the Project will be subject to the park impact fee for apartment units at $5,000.00 per unit and shall be paid to the CITY prior to the issuance of the first building permit for said phase, in addition to a 25% down payment for the next phase. The project includes a subdivision for condominium purposes that OWNER indicates may or may not be exercised. Should the OWNER determine to record a Final Tract Map and convert the apartment units to condominium units, OWNER shall pay the difference in fees between the initial $5,000.00 per unit park impact fee and the fee in place at the time of Map recordation for condominium units. The Tentative Tract Map shall remain valid for the term of this agreement and expire coterminous with this agreement if not exercised.
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Parkland Impact Fee. 37.5% of the parkland acreage equivalent shall be applied as a credit for the private recreation area included at the Artisan East Apartment Homes pursuant to section 104-29-9 of the Code, the calculation of which is attached hereto as Exhibit F. The purchase price for the Xxxxxxxx Tract shall be further used toward satisfying the remainder of the Parkland Impact Fee, pending approval of a transfer of development rights (TDR) from the Xxxxxxxx Tract to the rest of the Property. Upon approval of any TDR, Developer shall deed the Xxxxxxxx Tract back to the City, subject only to the Permitted Exceptions, to be preserved in perpetuity as recreation/open space.
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