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development, subject to the approval of the director The cost of providing and <br /> constructing the unprovements required in Conditions E, F, G, H, I, J, K and L <br /> shall be credited against the sum specified in Condition U (5) for road and <br /> traffic improvements For purposes of administering Condition U, the fair <br /> market value of land contributed or the cost of any improvements required or <br /> made in lieu of the fair share contribution shall be subject to review and <br /> approval of the director, upon consultation with the appropriate agencies <br /> Upon approval of the fair share contributions or m lieu contributions by the <br /> director, the director shall submit a final report to the Council for its <br /> information that identifies the specific approved fair share and/or m lieu <br /> contributions, as allocated, and further implementation requirements <br /> V Should the Council adopt a Umfied Impact Fees Ordmance setting forth cntena <br /> for the imposition of exactions or the assessments of impact fees, conditions <br /> included herein shall be credited towards the requirements of the Unified Impact <br /> Fees Ordinance <br /> <br /> W In lieu of actual construction of infrastructure improvements as conditioned <br /> above, the applicant may enter into an agreement with the Planning Director and <br /> the Department of Public Works and the Department of Water Supply, if <br /> applicable, to assure the County that the infrastructure improvements will be <br /> constructed together with the appropriate bond, surety or other security deemed <br /> acceptable to the Plantung Director and the Corporation Counsel Upon execution <br /> of such agreement and/or filing of the security with the County, if applicable, <br /> Final Subdivision Approval for the subject property or portions thereof may be <br /> granted prior to the actual construction of required infrastructure improvements <br /> unless otherwise restricted herein A certificate of occupancy shall not be issued <br /> until the infrastructure improvements have been constructed <br /> -8- <br /> <br />