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<br /> 09.91.98 18:21 FAT 808 328 7710 OCEANSIDE 1250 , , _ _ 000 <br /> <br /> <br /> <br /> <br /> <br /> b. Adoption of a Impact Fee Ordinance. Should the County Council adopt <br /> <br /> a Impact Fee Ordinance, OCEANSIDE shall receive one (1) unit of credit for every 53,101.68 <br /> <br /> it has spent toward the construction of the Bypass Highway and the Haleld'i Street intersection <br /> <br /> improvements. The credits may be applied toward the requirements of an Impact Fee Ordinance. <br /> <br /> C. Funds for Reimbursement. During the course of this Agreement, if the <br /> <br /> COUNTY approves new rezonings which increase tl±e aggregate allowable DensitX of <br /> <br /> developments under common ownership of each landowner in the vicinity of Mamalahoa <br /> <br /> Highway, then the COUNTY shall assess those new developments a "Fair Share" contribution, <br /> or similar fee, to address the regional impacts the aggleegate increased (not h .original) Density <br /> <br /> of their development on road facilities. In the event that the COUNTY collects funds for such <br /> <br /> "Fair Sharp" contributions, or similar fees, as may be allowed by the rezoning ordinances, and as <br /> <br /> identified in Paragraphs (15.c.1. and 15.c.2. herein) from developers and landowners whom the <br /> <br /> County has determined as benefitting from the Bypass Highway, the COUNTY shall reimburse <br /> <br /> OCEANSIDE from such funds as they are collected. <br /> <br /> (1) Funds to reimburse OCEANSIDE shall be from, but not limited to, <br /> <br /> the following sources: <br /> <br /> (a) "Fair Share" contributions paid to the COUNTY to address <br /> <br /> potential regional impacts of their development on road facilities; <br /> <br /> (b) Upon the adoption of a Impact Fee Ordinance that assesses <br /> <br /> or imposes an impact fee either for the COUNTY as a whole or for the region extending from <br /> <br /> Keauhou to South Point, that portion of the impact fee necessary to address potential regional <br /> <br /> impacts on road facilities; <br /> <br /> <br /> <br /> 23 <br />