Common use of Transportation Impact Fees Clause in Contracts

Transportation Impact Fees. The DEVELOPER and Project shall be assessed TIF in accordance with the COUNTY'S adopted TIF Ordinance as amended and this DA. The COUNTY agrees to budget impact fees paid within the Project in an impact fee account attributable to the pipeline projects for reimbursement or TIF credit to the DEVELOPER or to another entity or entities; e.g., the CDD, to the extent that such entity finances or otherwise pays for or contributes to the pipeline project(s) as determined by the COUNTY (hereinafter referred to as the Credit Receiving Entity). Once the DEVELOPER has posted the performance guarantees and commenced construction for the pipeline projects referenced in this DA, the COUNTY agrees to reimburse or provide impact fee credits to the Credit Receiving Entity for those expenditures on the pipeline projects approved by the COUNTY to be impact fee creditable in accordance with this DA and the TIF Ordinance. The DEVELOPER and Credit Receiving Entity shall not be entitled to any interest on the account. TIFs paid for or by the Project shall be held for the pipeline projects beyond seven (7) years after payment and can thereafter be spent anywhere as desired by the COUNTY in accordance with the TIF Ordinance. In addition, the time limits on the encumbrance and expenditure of these funds, as provided in the TIF Ordinance, shall be waived by the DEVELOPER and by its successors and assigns. The DEVELOPER and Project shall pay TIFs in accordance with the TIF Ordinance whenever it does not have COUNTY-approved impact fee credits or offsets sufficient to cover impact fees that are due. The foregoing paragraph shall also apply to Pipeline Project No. 4 if Pipeline Project No. 4 when it is determined to be impact fee creditable pursuant to the TIF Ordinance.

Transportation Impact Fees. The DEVELOPER and Project shall be assessed TIF in accordance with the COUNTY'S adopted TIF Ordinance as amended and this DA. The COUNTY agrees to budget impact fees paid within the Project in an impact fee account account, attributable to the pipeline projects Xxxxxx Road Pipeline Project, for reimbursement or TIF credit to the DEVELOPER or to another entity or entities; e.g., the CDDCDD or other third party entity on behalf of the DEVELOPER, to the extent that such entity finances or otherwise pays for or contributes to the pipeline project(s) Xxxxxx Road Pipeline Project as determined by the COUNTY (hereinafter referred to as the Credit Credit-Receiving Entity). Once the DEVELOPER has posted the performance guarantees Performance Guarantees and commenced construction for the pipeline projects Xxxxxx Road Pipeline Project referenced in this DA, the COUNTY agrees to reimburse or provide impact fee credits to the Credit Credit-Receiving Entity for those expenditures on the pipeline projects approved by the COUNTY to be impact impact-fee creditable in accordance with this DA and the TIF Ordinance. The DEVELOPER and Credit Credit-Receiving Entity shall not be entitled to any interest on the account. TIFs Impact fees paid for or by the Project shall not be held for the pipeline projects Xxxxxx Road Pipeline Project beyond seven (7) years after payment and can thereafter be spent anywhere as desired by the COUNTY in accordance with the TIF Ordinance. In addition, the time limits on the encumbrance and expenditure of these funds, as provided in the TIF Ordinance, shall be waived by the DEVELOPER and by its successors and assigns. The DEVELOPER and Project shall pay TIFs TIF in accordance with the TIF Ordinance whenever it does not have COUNTY-approved impact fee credits or offsets sufficient to cover impact fees that are due. The foregoing paragraph shall also apply to Pipeline Project No. 4 if Pipeline Project No. 4 when it is determined to be impact fee creditable pursuant Notwithstanding anything in the DO or this DA to the TIF Ordinance.contrary, in the event the COUNTY'S first 15-year Capital Improvement Plan (CIP) shows that the COUNTY has inadequate committed and planned revenue to construct the improvements needed to achieve and maintain the COUNTY'S adopted level of service standards on any of the roadways impacted by the Project (as set forth in Exhibit G of the DO and attached hereto as Exhibit B) during the term of the 15-year CIP, the DEVELOPER agrees to the following:

Transportation Impact Fees. The DEVELOPER and Project shall be assessed TIF in accordance with the COUNTY'S adopted TIF Ordinance as amended and this DA. The COUNTY agrees to budget impact fees paid within the Project in an impact fee account attributable to the pipeline projects for reimbursement or TIF credit to the DEVELOPER or to another entity or entities; e.g., the CDD, to the extent that such entity finances or otherwise pays for or contributes to the pipeline project(s) as determined by the COUNTY (hereinafter referred to as the “Credit Receiving Entity”). Once the DEVELOPER has posted the performance guarantees and commenced construction for the pipeline projects referenced in this DA, the COUNTY agrees to reimburse or provide impact fee credits to the Credit Receiving Entity for those expenditures on the pipeline projects approved by the COUNTY to be impact fee creditable in accordance with this DA and the TIF Ordinance. The DEVELOPER and Credit Receiving Entity shall not be entitled to any interest on the account. TIFs paid for or by the Project shall be held for the pipeline projects beyond seven for a minimum of ten (7) years after payment and can thereafter be spent anywhere as desired by the COUNTY in accordance with the TIF Ordinance. In addition, the time limits on the encumbrance and expenditure of these funds, as provided in the TIF Ordinance, shall be waived by the DEVELOPER and by its successors and assigns. The DEVELOPER and Project shall pay TIFs in accordance with the TIF Ordinance whenever it does not have COUNTY-approved impact fee credits or offsets sufficient to cover impact fees that are due. The foregoing paragraph shall also apply to Pipeline Project No. 4 if Pipeline Project No. 4 when it is determined to be impact fee creditable pursuant to the TIF Ordinance.