RES 244 Draft 03 1996-1998 - Laserfiche WebLink

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said highway as approved by the County. Following dedication of the Bypass Highway to the COUNTY, the COUNTY shall assume all responsibility and costs for operation, maintenance, repair or reconstruction of the Bypass Highway. 15. REIMBURSEMENT OF CONSTRUCTION COSTS FOR THE BYPASS HIGHWAY. a. Responsibility of Developer. OCEANSIDE shall be responsible for all costs associated with the design, land acquisition, construction of the Bypass Highway, including, without limitation, the costs associated with obtaining any necessary Approvals associated with the same ("Total Cost"); provided that, nothing herein shall be construed as preventing OCEANSIDE from seeking reimbursement for such costs and the total amount of reimbursement received by OCEANSIDE shall not exceed the difference between the Total Cost of the Bypass Highway and the "Project Impact Cost", as described in further detail in Paragraph (I 5.a.1). (1) Based on a development constituting seven hundred thirty (730) lots and eighty (80) lodge units ("Project Unit Count"), the Project constitutes approximately thirty-eight (38) percent of the total capacity of the Bypass Highway based upon a Level of Service "D" ("Project Impact"). Should OCEANSIDE develop less or more than the Project Unit Count, then the percentage of traffic attributable to the Project shall be adjusted accordingly. The Total Cost of the" Bypass Highway multiplied by the Project Impact shall determine the Project Impact Cost. For example, if the Total Cost of the Bypass Highway is $1.0 million and the Project Impact is thirty-eight (38%) percent, the Project Impact Cost is $380,000.00. In such a case, OCEANSIDE shall then be eligible to receive no more than $620,000 of reimbursement ($1.0 million minus $380,000). (2) The remaining balance of the Total Cost of the Bypass Highway after deducting OCEANSIDE's and Kealakekua Development Corporation's share shall be reimbursed to OCEANSIDE with funds from income sources identified in Paragraph (15.c.1) for costs incurred by OCEANSIDE in the land acquisition, design, planning, construction, development and approval of the Bypass Highway. b. Adoption of a Impact Fee Ordinance. Should the County Council adopt a Impact Fee Ordinance, OCEANSIDE shall receive one (1) unit of credit for every $3,101.68 it has spent toward the construction of the Bypass Highway and the Haleki'i Street intersection improvements. The credits may be applied toward the requirements of an Impact Fee Ordinance. C. Funds for Reimbursement. During the course of this Agreement, if the COUNTY approves new rezonings in the vicinity of Mamalahoa Highway, then the COUNTY shall assess those new developments a "Fair Share" contribution in accordance with Council policy, or similar fee, to address the regional impacts of their development on road facilities. In the event that the COUNTY collects funds for 14