Project and System Improvements – Cost Sharing Clause Samples
Project and System Improvements – Cost Sharing. Developer, its successors and/or assigns shall bear the entire cost of constructing Public Facilities known as Project Improvements needed to service not only the Subject Property and the After Acquired Property but all of the Firelight Community. Should the City request and Developer consent, in its sole discretion, Developer may bear the initial cost of constructing Public Facilities known as System Improvements but shall be entitled to be reimbursed for the cost of such System Improvements. Prior to Developer constructing any System Improvement on behalf of the City, the Parties shall execute an agreement whereby Developer shall be reimbursed over time, credited, or paid upfront for the cost of constructing such System Improvements. Developer shall furnish an estimate of the cost of constructing such improvements prepared by an engineer registered to practice in the State of Utah and approved by City. The reimbursement agreement shall assure that neither Developer nor City bears more than their respective proportionate share of the cost of constructing a Public Facility containing both Project Improvements and System Improvements. Each reimbursement agreement shall be negotiated on a case-by-case basis at, or prior to, the commencement of construction of said Public Facility. All reimbursements for the construction of Public Facilities which are System Improvements shall be drafted and entered into the by the Parties in compliance with Chapter 19I of the City’s Land Use Ordinances.
Project and System Improvements – Cost Sharing. Except as otherwise provided herein, Developer shall bear the entire cost of constructing Project Improvements needed to service the Project. With respect to any System Improvements or upsized Public Facilities that will benefit any other property in addition to the Project, the City shall participate in the cost of constructing such improvements or facilities by (i) making an upfront payment to Developer; (ii) providing impact fee credits or refunds; or (iii) reimbursing Developer, in either case, in an amount agreed upon by the City and Developer.
Project and System Improvements – Cost Sharing. Developer, through the Local District or otherwise, pursuant to and subject to the exceptions which may be set forth in the Interlocal Agreement, shall bear the entire cost of constructing Project Improvements needed to service the Project. Developer may also bear the initial cost of constructing System Improvements required as a result of the Project but shall be entitled to be reimbursed or credited for the cost of such System Improvements pursuant to the Utah Impact Fee Act, (11-36a-101 et seq.) and this Agreement, except for Developer's proportionate share of System Improvements costs. The determination of whether to upgrade or upsize infrastructure as a system