Common use of Short Range Fiscal Plans Clause in Contracts

Short Range Fiscal Plans. a. The Town and University shall collaboratively undertake and regularly update Short Range Fiscal Plans (SRFP) that assess and address the fiscal impacts of the Carolina North Project on the Town. Each plan shall include an analysis of anticipated fiscal impacts and shall include agreements on how any adverse fiscal impacts on the Town are to be addressed. The report shall specifically address: (1) University and State payments for fire services provided by the Town; (2) contributions for capital facilities for police, fire, and emergency medical services identified in Section 5.13; and, (3) transportation costs identified in Section 5.8. b. The fiscal impact analysis mandated by this Section shall build upon the model used for the March 3, 2009 fiscal impact analysis for Carolina North and shall use a mutually agreed upon methodology and process for updates to that analysis. c. The Manager may suspend approval of all individual site development permits pursuant to this Agreement if a mutually satisfactory means by which negative fiscal impacts on the Town resulting from the Carolina North Project are to be addressed is not agreed to by the University and Town within twelve months of the completion of each updated SRFP prepared pursuant to this Agreement. Unless otherwise mutually agreed by the parties, this Agreement shall be deemed terminated by mutual consent of the parties if the suspension of individual site development permits continues for twelve (12) months in duration. In the event the Parties have not mutually agreed on a means for addressing negative fiscal impacts with twelve (12) months of completion of a SRFP, the Parties shall initiate good faith efforts to resolve this matter, including potential use of facilitators, mediators, or other alternate dispute resolution techniques. d. The initial SRFP shall be completed in conjunction with issuance of the initial site development permit for the Carolina North Project and shall address how the Parties will manage the fiscal impacts on the Town generated by that development. Unless otherwise agreed by the Parties, the SRFP shall be updated annually thereafter and each update shall address the fiscal impacts of the development constructed and approved at the time of that update. e. A summary of the activity taken in the previous year to address the recommendations of the most recent SRFP shall be included in each Annual Report mandated by this Agreement.

Short Range Fiscal Plans. a. The Town and University shall collaboratively undertake and regularly update Short Range Fiscal Plans (SRFP) that assess and address the fiscal impacts of the Carolina North Project on the Town. Each plan shall include an analysis of anticipated fiscal impacts and shall include agreements on how any adverse fiscal impacts on the Town are to be addressed. The report shall specifically address: (1) University and State payments for fire services provided by the Town; (2) contributions for capital facilities for police, fire, and emergency medical services identified in Section 5.13; and, (3) transportation costs identified in Section 5.8. b. The fiscal impact analysis mandated by this Section shall build upon the model used for the March 3, 2009 fiscal impact analysis for Carolina North and shall use a mutually agreed upon methodology and process for updates to that analysis. c. The Manager may suspend approval of all individual site development permits pursuant to this Agreement if a mutually satisfactory means by which negative fiscal impacts on the Town resulting from the Carolina North Project project are to be addressed is not agreed to by the University and Town within twelve months of the completion of each updated SRFP prepared pursuant to this Agreement. Unless otherwise mutually agreed by the parties, this Agreement shall be deemed terminated by mutual consent of the parties if the suspension of individual site development permits continues for twelve (12) months in duration. In the event the Parties have not mutually agreed on a means for addressing negative fiscal impacts with twelve (12) months of completion of a SRFP, the Parties shall initiate good faith efforts to resolve this matter, including potential use of facilitators, mediators, or other alternate dispute resolution techniques. d. The initial SRFP shall be completed in conjunction with issuance of the initial site development permit for the Carolina North Project and shall address how the Parties will manage the fiscal impacts on the Town generated by that development. Unless otherwise agreed by the Parties, the SRFP shall be updated annually thereafter and each update shall address the fiscal impacts of the development constructed and approved at the time of that update. e. A summary of the activity taken in the previous year to address the recommendations of the most recent SRFP shall be included in each Annual Report mandated by this Agreement.

Short Range Fiscal Plans. a. The Town and University shall collaboratively undertake and regularly update Short Range Fiscal Plans (SRFP) that assess and address the fiscal impacts of the Carolina North Project on the Town. Each plan shall include an analysis of anticipated fiscal impacts and shall include agreements on how any adverse fiscal impacts on the Town are to be addressed. The report shall specifically address: (1) University and State payments for fire services provided by the Town; (2) contributions for capital facilities for police, fire, and emergency medical services identified in Section 5.13; and, (3) transportation costs identified in Section 5.8. b. The fiscal impact analysis mandated by this Section shall build upon the model used for the March 3, 2009 fiscal impact analysis for Carolina North Xxxxxxxx Xxxxx and shall use a mutually agreed upon methodology and process for updates to that analysis. c. The Manager may suspend approval of all individual site development permits pursuant to this Agreement if a mutually satisfactory means by which negative fiscal impacts on the Town resulting from the Carolina North Project Pproject are to be addressed is not agreed to by the University and Town within twelve months of the completion of each updated SRFP prepared pursuant to this Agreement. Unless otherwise mutually agreed by the parties, this Agreement shall be deemed terminated by mutual consent of the parties if the suspension of individual site development permits continues for twelve (12) months in duration. In the event the Parties have not mutually agreed on a means for addressing negative fiscal impacts with twelve (12) months of completion of a SRFP, the Parties shall initiate good faith efforts to resolve this matter, including potential use of facilitators, mediators, or other alternate dispute resolution techniques. d. The initial SRFP shall be completed in conjunction with issuance of the initial site development permit for the Carolina North Project and shall address how the Parties will manage the fiscal impacts on the Town generated by that development. Unless otherwise agreed by the Parties, the SRFP shall be updated annually thereafter and each update shall address the fiscal impacts of the development constructed and approved at the time of that update. e. A summary of the activity taken in the previous year to address the recommendations of the most recent SRFP shall be included in each Annual Report mandated by this Agreement.