BIL 130 Draft 02 2002-2004 - Laserfiche WebLink

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subject property or its increments. If the subject property is subdivided in two or more increments, the amount of the fair share contribution due and payable prior to final subdivision approval of each increment shall be a sum calculated in the same manner according to the number of proposed residential lots in each such increment. The fair share contribution, in a form of cash, land, facilities or any combination thereof, acceptable to the director in consultation with the affected agencies, provided that the fair share contribution to address the potential road impacts shall he in the form of cash and shall be applied to improving the Kaloko Drive/Hawaii Belt Koad intersection. The fair share contribution shall have a value of $9,473.1 1 per lot. Based upon the applicant's representation of intent to subdivide and develop up to two (2) lots. the indicated total fair share contribution is $18,944.22, however, the total amount shall be increased or reduced in proportion with the actual number of subdivided lots according to the calculation and payment provisions set forth in this Condition F. The fzir share contribution shall be allocated as follows: $9,473.11 per lot for an indicated total of $18,944.22 to the State or County to support road and traffic improvements. The fair share contributions described above shall he adjusted annually beginning three years after the effective date of the change of zone, based on the percentage change in the Honolulu Consumer Price Index (HOPI). [n lieu of paying the fair share contribution, the applicant may construct and contribute land, improvements/facilities related to parks and recreation, fire, police, solid waste disposal facilities, and roads within the region impacted by the proposed development, subject to the approval of the director. I~or purposes of administering Condition 1;, the fair market value of land contributed or the cost of any improvements required or -5-