Xxxxxxx Hills Finance Plan Sample Clauses

Xxxxxxx Hills Finance Plan. A comprehensive financing plan was approved concurrent with the Project Approvals for the provision of the necessary major public infrastructure and facilities through a variety of public financing mechanisms, including, but not limited to, the formation of new community facilities districts and establishment of development impact fees. The Property Owners will work with the County to create and implement various financing mechanisms as identified in the Finance Plan. Said financing mechanisms shall be implemented prior to recordation of final small lot subdivision map(s) or the issuance of building permits, whichever occurs first. Because of the size of the Project, the magnitude of the infrastructure and facilities to be provided, the County and the Property Owners acknowledge the necessity to review the Capital Improvement Programs established for the Project Area to ensure that the funding for the required major infrastructure and facilities is adequately provided. The Property Owners and the County shall periodically review and evaluate the Capital Improvement Programs, with the first such review taking place at the implementation and initial adoption of the financing mechanisms. Following the first such initial review, the Capital Improvement Programs shall be periodically reviewed and updated thereafter at least every five (5) years.
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