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<br /> <br /> <br /> <br /> <br /> <br /> <br /> 42. The Development Agreement contains a provision on "fair share" reimburs~rnei t <br /> <br /> from the County to Oceanside. (Exhibit J-45) <br /> <br /> 43. Section 15(c) of the Development Agreement requires the County to reimbi,rse <br /> Oceanside as soon as the County assesses a'fair share" contribution for n ; v . - <br /> <br /> zonings in the vicinity of the Mamaiahoa Highway pursuant to a percentage <br /> <br /> schedule in the Development Agreement. (Exhibit J-45). <br /> <br /> a. Specifically, Section 15(c) states, "in the event that the COUNTY cot':cta <br /> <br /> such "fair share" contributions, or similar fees, as may be allowed by f e <br /> rezoning ordinances from developers a.nd landowners whom the <br /> <br /> COUNTY has determined as benefiting from the Bypass Highway. th <br /> <br /> COUNTY shall reimburse OCEANSIDE frcm such funds as they are <br /> <br /> collected " (Exhibit J-45) <br /> <br /> 44. According to the Development Agreement, reimbursement funds are derived a± <br /> least, from the following three sources: (a) "fair share" contribution:; paid to tro <br /> <br /> County to address potential regional impacts of their development on road <br /> <br /> facilities; (b) an Impact Fee Ordinance that assesses or imposes an impact fce <br /> <br /> either for the County as a whole or for the region extending from Keauhou to <br /> <br /> Mitoiii, and, (c) any other monetary contribution paid to the County from <br /> developers or land owners that benefit from the Bypass Highway. (Exhibit J-451,. <br /> <br /> 45. According to the Development Agreement, Tor a period of thirty years, a <br /> <br /> percentage of this reimbursement lund will be paid to Oceanside. This <br /> <br /> percentage varies by geographic area, and is described as follows: (1) bNenty- <br /> <br /> five percent (25%) of the funds received from Keai-hou will be paid to Oceans de; <br /> <br /> <br /> <br /> I? <br />