Public Enterprise Reimbursement Agreements (G.S. 160A-320) Sample Clauses

Public Enterprise Reimbursement Agreements (G.S. 160A-320). 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 the design and construction of public enterprise improvements that are in addition to those required by applicable Town Regulations and that are adjacent or ancillary to any Development project in the Property. As used in this paragraph, the term “public enterprise” has the definition provided in G.S. 160A-311 (including any subsequently amended or successor statute). 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, and (ii) the coordination of separately constructed improvements 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). The public enterprises improvements subject to the reimbursement agreement may be constructed on any property owned by a Participant. Reimbursements to a Developer or 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. The public enterprise improvements may be constructed on any portion of the Property owned or acquired by a Participant. The Developer or Parcel Owner may assist the Town in obtaining easements in favor of the Town on a portion of the Property or other land on which the public enterprise improvements are to be located, and the reimbursement agreement may be entered into before the acquisition of any land necessary for the public enterprise improvements.
Sample 1
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Related to Public Enterprise Reimbursement Agreements (G.S. 160A-320)

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