Examples of PFE Fee in a sentence
All rights to PFE Fee credits and/or reimbursements shall be personal to Developer and shall not run with the land, unless such rights are expressly designated in writing to do so.
If the amount of Developer’s PFE Fee credits do not reach a zero balance prior to the issuance of the last building permit within the Project, City shall transfer the then existing credit balance held by Developer to any other property within the Specific Plan area owned by Developer.
Upon written notice to City using the form attached hereto as Exhibit “I”, Developer may at any time freely transfer and assign any unused PFE Fee credits to another developer within the Specific Plan area without obtaining City’s consent.
City hereby agrees the non-critical components of the PFE Fee, as will be further defined in the PFE Fee Program, relating to water, wastewater, transportation, and drainage, will be pooled and used to pay for improvements within the Specific Plan area.
Upon adoption of the PFE Fee Program and the Public Facilities Element Implementation Plan and Policies (“PFE Policy”), City shall administer said program and policy and impose a PFE Fee Program fee (“PFE Fee”) on all developing parcels within the Specific Plan area.
Once such improvements are completed or fully funded, City may use any remaining amount of non-critical components of the PFE Fee for other PFE Fee Program projects outside of the Specific Plan area.
PFE Fee credits are eligible for reimbursement when funds are available pursuant to the PFE Policy.
When Developer provides PFE facilities, Developer shall receive PFE Fee credits consistent with City’s PFE Policy.
City hereby agrees and acknowledges that Developer’s payment of the PFE Fee regional park fee component and Plan Area Fee regional park land acquisition fee component shall fully satisfy Developer’s regional park obligations.
Available CFD bond proceeds and/or special tax proceeds may be used to fund, in addition to acquisition and/or construction of the Public Improvements, reimbursements and/or payment of development impact fees, and City PFE Fee Program projects outside of the Specific Plan area provided the amount of CFD proceeds used to fund such projects shall not exceed the amount of PFE fee credits for which Developer would otherwise be eligible for such projects.