Pioneering of Project Improvements and Infrastructure. City shall use its reasonable best efforts to ensure that the Owner is not required to finance or construct any Project Improvements and Infrastructure in excess of its fair share costs as established by Applicable Law, including, without limitation, the legal requirements of “essential nexus” and “rough proportionality” (“Fair Share”). To the extent Owner is required to construct, install, or otherwise provide financing (i.e., “Pioneers”) for any Project Improvement and Infrastructure that is oversized so as to benefit an area larger than the Project, the City shall take one of the following actions: (1) City will use its best good faith efforts to secure funding from other landowners or developers for that portion of the cost of such oversized improvements that is attributable to projects or areas owned, developed or proposed for development by such other landowners or developers by requiring such landowners or developers to enter into reimbursement agreements directly with Owner; (2) establish a Reimbursement District that includes the other landowners or developers that are benefited from the oversized facilities so that the Owner may be reimbursed for the pro-rata share of benefits conferred to the other landowners or developers by the oversized facility; or (3) include said improvements in a Development Impact Fee Program adopted by the City and provide Owner with reimbursement from the amounts collected from said fee, equal to the pro-rata share of the benefits conferred to the other landowners or developers. If the Project Improvements and Infrastructure is covered by a future Development Impact Fee Program adopted by the City, Owner shall be reimbursed from the amounts received from such fee program, subject to the City’s Director of Public Works reasonable determination that such costs are allowable under the applicable Fee Program. The fact that such improvements may be financed by an assessment district, Community Facility District or other financing district shall not prevent said reimbursement to the Owner.
Appears in 2 contracts
Sources: Development Agreement, Development Agreement