Common use of Development Fees Clause in Contracts

Development Fees. In connection with each individual TSVI project requiring the issuance of a Village construction permit, the Roadway/Pedestrian/Drainage Development Impact Fee, the Parks and Recreation/Open Space Development Impact Fee, the Public Spaces/Recreation Development Impact Fee, and any other Development Impact Fee imposed in connection with water, sewer or natural gas imposed by the Village and made applicable to such project shall be subject to a reduction of between twenty-five percent (25%) and one hundred percent (100%), which shall be mutually agreed upon by the Village and TSVI at the time that such fees would be payable. Factors to be considered in the determination of any fee reduction are the unreimbursed balance of TSVI’s upfront outlays towards improvements the fee in question would address along with the Village’s current Needs Assessment and Capital Improvements Plan documents at that time.

Development Fees. In connection with each individual TSVI project requiring the issuance of a Village construction permit, the Roadway/Pedestrian/Drainage Development Impact Fee, the Parks and Recreation/Open Space Development Impact Fee, the Public Spaces/Recreation Development Impact Fee, and any other Development Impact Fee imposed in connection with water, sewer or natural gas imposed by the Village and made applicable to such project shall be subject to a reduction of between twenty-five percent (25%) and one hundred percent (100%), which shall be mutually agreed upon by the Village and TSVI at the time that such fees would be payable. Factors to be considered in the determination of any fee reduction are the unreimbursed balance of TSVIXXXX’s upfront outlays towards improvements the fee in question would address along with the Village’s current Needs Assessment and Capital Improvements Plan documents at that time.