RES 244 Draft 03 1996-1998 - Laserfiche WebLink

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such "Fair Share" contributions, or similar fees, as may be allowed by the rezoning ordinances, and as identified in Paragraphs (15.c. I. and 15.c.2. herein) from developers and landowners whom the County has determined as benefitting from the Bypass Highway, the COUNTY shall reimburse OCEANSIDE from such funds as they are collected. (1) Funds to reimburse OCEANSIDE shall be from, but not limited to, the following sources: (a) "Fair Share" contributions paid to the COUNTY to address potential regional impacts of their development on road facilities; (b) Upon the adoption of a Impact Fee Ordinance that assesses or imposes an. impact fee either -for the COUNTY as a whole or for the region extending from Keauhou to Milolii, that portion of the impact fee necessary to address potential regional impacts on road facilities; (c) Any other monetary contribution paid to the COUNTY from developers or land owners, whom the COUNTY determines as benefiting from the Bypass Highway, to address potential regional impacts of such developer's or land owner's development on road facilities; (2) In addition to the reimbursement funds identified in Paragraph (I 5.c.1), OCEANSIDE shall be entitled to "Fair Share" contributions in the amount of $3.6 million, as may be adjusted from time to time, paid to the COUNTY by Kealakekua Development Corporation or its successors to address potential regional impacts of Kealakekua Development Corporation's project, less $1.3 million representing contributions toward Mamalahoa Highway Improvements and improvements to Greenwell Park as required by Conditions K and N(2), respectively, of Ordinance 95-70, as may be amended. (3) Should the COUNTY Council adopt an Impact Fee Ordinance, developers and land owners whom the COUNTY determined as benefitting from the Bypass Highway shall receive Highway Credits to be applied toward the requirements of a Impact Fee Ordinance. (4) As long as the COUNTY shall assess those new rezonings in the vicinity of Mamalahoa Highway a fair share contribution in accordance with Council policy, or if adopted, an impact fee, to address the regional impacts of their developments on road facilities, OCEANSIDE acknowledges and understands that should any funds or options identified in the preceding sections 15.b and c. fail to materialize or fail to meet the remainder of the total cost of the Bypass Highway, the COUNTY shall not be held responsible for any reimbursements. d. "Benefit" to Other Developments. The COUNTY finds that certain geographic portions of Mamalahoa Highway are currently congested and that any new development is severely restricted because of traffic considerations. Developments within the geographic region extending from Keauhou to the north and to Milolii to the south will benefit in varying degrees from the construction of the Bypass 15