Community Impact Fee definition
Examples of Community Impact Fee in a sentence
Contemporaneous with or after MGE’s payment to the Town of the initial Community Impact Fee, but on or before the date the Project is first Open for Business to the General Public, on a date of MGE’s choosing, MGE will begin making Annual Community Impact Fee payments to the Town, with the payment of subsequent Annual Community Impact Fees to begin on the anniversaries of the day the Project is first Open for Business to the General Public.
Except as expressly provided herein, this Agreement shall take effect on the date set forth above, and shall be applicable for as long as the Company operates the Facility in the Town, with the exception of the Community Impact Fee as set forth in Section 2 herein, which shall be subject to the five (5) year statutory limitations of ▇.▇.
Accordingly, in order to mitigate the financial impact on the Town and use of Town resources, the Company agrees to pay a Community Impact Fee to the Town, in the amount and under the terms provided herein.
The Company shall submit annual financial statements to the Town within 60 days after the payment of its fourth quarter payment of the Community Impact Fee with a certification of its annual sales.
Within one year after MGE pays the Project License Fee, but before the Project is Open for Business to the General Public, on a date of MGE’s choosing, MGE will pay the Town an initial Community Impact Fee in the amount of $60,000.00 (Sixty Thousand Dollars).
The Independent Financial Auditor shall review the Company’s financial records for purposes of determining that the payment of its Annual Community Impact Fee are in compliance with the terms of this Agreement.
In addition to the Community Impact Fee, the Company shall reimburse the Town for any and all reasonable consulting costs and fees related to any land use applications concerning the Facility, negotiation of this and any other related agreements, and any review concerning the Facility, including planning, engineering, legal and/or environmental professional consultants and any related reasonable disbursements at standard rates charged by the above-referenced consultants in relation to the Facility.
Operator shall submit an annual written report to the Town’s Select Board within thirty (30) days after the payment of its fourth quarterly installment of the Annual Community Impact Fee with a certification of: (1) its annual sales; and (2) its compliance with all other requirements of this HCA.
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.
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.