Host Community Impact Fee Sample Clauses

Host Community Impact Fee. The Parties acknowledge that the Town will incur additional expenses and impacts upon the Town's road system, law enforcement, fire protection services, inspectional services and permitting services, public health services, and other additional unforeseen impacts. Accordingly, in order to mitigate such impacts upon the Town and use of Town resources, Operator shall provide as a payment to the Town a community impact fee (the “Community Impact Fee”). Operator acknowledges and agrees that the Town is under no obligation to use the Community Impact Fee in any particular manner and while the purpose of these payments is to assist the Town in addressing impacts the Establishment may have on the Town, the Town may expend the Community Impact Fee for any proper public purpose, as determined by Town Meeting, subject to M.G..L. c. 44, § 53 or any other general or special law. Notwithstanding any provision herein, the Community Impact Fee is designed so that it shall be reasonably related to the actual or anticipated costs imposed upon the Town as a result of the operation of the Establishment. The parties recognize and agree that it is inherently difficult to fully identify, evaluate and quantify the impacts to the Town of the Establishment and that the Community Impact Fee is a fair and reasonable estimation of such impacts and shall remain so for the duration of operation of the Establishment. Therefore, the Parties expressly agree that the Community Impact Fee is reasonably related to the costs that will be imposed upon the Town as a result of operation of the Establishment. In the event that the Operator obtains a Final License, or such other license and/or approval as may be required, for the Establishment in the Town by the CCC or such other state licensing or monitoring authority, Operator shall make payments to the Town in an amount equal to 3% of the gross revenue from the Establishment’s annual cannabis or marijuana product sales. Such payments shall be made quarterly each calendar year on the 1st Tuesday of January, April, July and October, beginning on the first of such dates after the Operator’s receipt of payment from its initial revenue event. Operator shall submit financial records to the Town within 30 days after each such payment with a certification of sales with respect to each such payment. Operator shall maintain its books, financial records, and other compilations of data pertaining to the requirements of this Agreement in accordance with sta...