COM 0349.011 2006-2008 - Laserfiche WebLink

Home

Proposal Only SEA MOUNTAIN COMMUNITY BENEFIT PACKAGE Peraetual Revenue Program 1. Initial Sales a. Sea Mountain will contribute $1,000,000 to the Community Benefit Fund upon final approval including the settlement of any lawsuit, of the SMA application. b. Sea Mountain will contribute $1,000,000 to the Community Benefit Fund upon issuance of the grading permit. c. Sea Mountain will contribute to the Community Benefit Fund .3% of the gross sales price of each house and/or lot sold to the public. This will be called the initial sale. This does not include the one time sale of lots to builders or bulk sales. Sea Mountain will obligate each builder to contribute to the Community Benefit Fund .3% of the gross sales price upon sale of any house or lot whether it is to the public or not and this will be considered the initial sale Any sales after the initial sales will be considered a resale. 2. Resales a. After the initial sale, Sea Mountain will obligate the owner of each lot or house to contribute to the Community Benefit Fund 1 % of the gross sales price upon the sale of any house or lot. This obligation will be recorded on the title of each property. 3. Hotel Room Rentals a. Sea Mountain will obligate the hotel owner/operator to pay into the Community Benefit Fund, a bi-annual payment of $3 for every night a room is rented during that six month period. Sea Mountain will make this a permanent obligafion of any hotel operating on the property. 4. Golf Course a. Sea Mountain will obligate the golf course owner/operator to pay to the Community Benefit Fund a bi-annual payment of $1 for each round of golf paid for during that period. 5. Homeowners Association a. Sea Mountain will require the Homeowners Association to pay a monthly contribution of $3 per lot or unit to the Community Benefit Fund. This will be written into the Homeowners Association documents and become a permanent obligation of the Association.