Park Development Fee definition
Park Development Fee means the City’s fee established by City Council, payable at the time building permit issuance, that the City charges to offset the costs to the City of improvements to public park lands that are required to address the impacts to such parks from development on the Property.
Park Development Fee means the CITY’s fee established by City Council, or as such amount may subsequently be adjusted by City Council, payable at the time building permit issuance, which the CITY charges to offset the costs to the CITY of improvements to public park lands that are required to address the impacts to such parks from development on the property.
Examples of Park Development Fee in a sentence
The right to apply Fee Reimbursements as Fee Credits is limited hereunder to the Infrastructure Fee Component of the Fee and may not be applied against the Neighborhood Park Development Fee Component, the Neighborhood Park Land Acquisition Fee Component or the Administrative Fee Component of the Fee.
Thereafter, the Developer shall pay the New Park Development Fee and the Neighborhood Green Fee after they are adopted for all remaining residential building permits within the Project, regardless of whether such fees are higher or lower than the applicable Interim Park Impact Fee or Interim Neighborhood Green Fee.
The New Park Development Fee will generally be used to develop the Parks, and shall not be used to develop the Neighborhood Greens.