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4g <br /> ig nning three years after the effective date of the change of zone. <br /> based on the percentage change in the Honolulu Consumer Price Index <br /> (HCPI). In lieu of payjng the fair share contribution. the applicant may <br /> construct and contribute imnrovements/facilities related to parks and <br /> recreation. fire. police. solid waste digposal facilities. and roads within <br /> the region impacted by Lhe proposed development. subject to Lhe <br /> approval of the director. The cost of providing and constructing the <br /> imnrovements required in Conditions G and H shall be credited against <br /> the sum spgcified in Condition K for road and traffic improvements. <br /> For py~poses of administering Conditions G and H. Lhe fair market value <br /> of land contributed or [he cost of any imnrovements required or made in <br /> lieu of the fair share contribution shall be subject to review and approval <br /> of Lhe director. upon consultation with the appropriate agencies. <br /> iToon approval of Lhe fair share contributions or in lieu contributiotL by <br /> the director. the director shall submit a final retwrt to Lhe Council for iL <br /> information [hat identifies Lhe sp ifi proved fair share and/or in lieu <br /> rontributionc ac allocated and fi~rther implementation requirements <br /> <br /> [K]j,. Should the Council adopt a Unified Impact Fees Ordinance setting forth criteria <br /> for the imposition of exactions or the assessment of impact fees, conditions <br /> included herein shall be credited towards the requirements of the Unified Impact <br /> Fees Ordinance. <br /> -5- <br /> <br />