Xxxx Aurora School District Sample Clauses

Xxxx Aurora School District. Owner shall make a cash payment in lieu of any dedication of land in the amount required pursuant to Chapter 6 of the Subdivision Regulations. Owner further agrees to make the entire required cash payment up-front (the “Initial Cash Payment”), upon the issuance of the first residential building permit within the West Aurora School District. Owner further agrees that in the event the total residential unit count should increase subsequent to the Initial Payment, Owner will make additional cash payment(s) based on any such increase in the number of units (the “Additional Cash Payments”). Such Initial and Additional Cash Payments shall be deemed to satisfy in full all obligations of Owner and of the Property to make school donations and contributions in total for those lands within the West Aurora School District, and in accordance with Chapter 6 of the Subdivision Regulations, and as further evidenced by the letter of agreement from the West Aurora School Districts as set forth in Exhibit J-5 (the “West Aurora School Letter of Agreement”).
Sample 1
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Xxxx Aurora School District. Zoning Parcel H is currently the only Zoning Parcel designated as residential and which will yield students within the West Aurora School District. Owner agrees to make initial minimum cash payment, in lieu of any land dedication, in the amount of $434 per unit in Zoning Parcel H (the “Initial Land/Cash Payment”). The total Initial Land/Cash Payment shall be paid up-front, upon the approval of a Final Plat for Zoning Parcel H, and shall be non-refundable. Owner further agrees that the Initial Land/Cash Payment is a minimum payment and in the event the total unit count within Zoning Parcel H should increase subsequent to the Initial Land/Cash Payment, Owner will make additional land/cash payment(s) based on any such increase in the number of units (the “Additional Land/Cash Payments”) at the same rate of $434 per unit. The Additional Land/Cash Payments shall be paid at such time as such additional units are platted (or are otherwise determined to be permitted). Such Initial and Additional Land/Cash Payments shall be deemed to satisfy in full all obligations of Owner and of the Property to make school land/cash donations and contributions in total for those lands within the West Aurora School District in accordance with Chapter 6 of the Subdivision Regulations. In addition to the Initial and Additional Land/Cash Payments, Owner further agrees to pay an impact fee of $800 per unit, payable at the time of building permit, for all units constructed in Zoning Parcel H. In the event the present development designations for any other Zoning Parcel located within the boundaries of the West Aurora School District are changed prior to any development in accordance with the current designations of such Zoning Parcel, so as to receive a zoning classification that would yield students, or if residential units are constructed on such a Zoning Parcel, then the provisions of this subsection D providing for the payment of a Land/Cash contribution, and impact fee, shall apply to such Zoning Parcel.
Sample 1

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