Parties’ Intent Regarding Provision of Parks and Open Space Sample Clauses

Parties’ Intent Regarding Provision of Parks and Open Space. It is the intent of the parties that there be a public-private partnership between the City and the Partnership Master Developer in the provision of parks and open space facilities benefiting residents and tenants of the TALUSEast Village Project. North of West Fork Xxxxxxxx Creek, such public-private partnership will be implemented as follows, and as set forth in greater detail in the remaining subsections of this Subsection 6.1: The City shall provide larger major public park and recreation facilities within the City but outside the TALUSEast Village Project for the benefit and use of City residents, including residents of the TALUSEast Village Project. To mitigate the impact of the TALUSEast Village Project on City parks facilities, the Master Developer and/or the Parcel Builders will contribute toward these larger major public facilities elsewhere in the City through payment to the City of per-unit park fees in accordance with the terms and conditions of Appendix I (Capital Facilities). Within the TALUSEast Village Project, the Master Developer and/or the Parcel Builders shall develop appropriately-sized tracts on the Development Parcels or Noncritical Open Space as Recreational Areas (e.g., as active or passive parks, plazas, trails, informal gathering areas, and the like), to be owned and maintained either by the TALUSEast Village Homeowners’ Association or, at the Master Developer’s request and at the Designated Official’s option, by the City or an organization approved by the Designated Official. The Master Developer or Parcel Builder is eligible to receive full or partial credit for some or all of the Recreational Areas that it develops, also in accordance with the terms and conditions of Appendix I (Capital Facilities).
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