Urban Services Plan Funding Shortfalls Sample Clauses

Urban Services Plan Funding Shortfalls. The Approvals for the Project include the Xxxxxxx Hills Urban Services Plan. County and Property Owners acknowledge that there may be years when funding shortfalls arise under the Urban Services Plan because special taxes and/or assessments on developed property within the Project Area do not fully cover the costs of the services being provided in the Project Area under the Urban Services Plan. Property Owners agree to cooperate in the formation of the Xxxxxxx Hills Special Financing Districts at the Xxxxxxx Hills Project Area that imposes a special tax and/or assessment on undeveloped land only when there is a funding shortfall after the maximum special tax and/or assessment authorized in the Xxxxxxx Hills Special Financing District has been levied on developed property in the Project Area. In such an event, the special tax and /or assessment to be levied on undeveloped property shall be applied in the priorities set forth in subsections (a), (b), (c) and (d) below. The special tax and/or assessment on the types of undeveloped land described in subsections (c) and (d) below can only be applied to assure that the service levels under the Urban Services Plan are provided by the CHCSA.
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Related to Urban Services Plan Funding Shortfalls

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