ORD 2309 - Laserfiche WebLink

private property to the east of the Project Site), as further shown in attached DA Exhibit D-1 and DA Exhibit D-2 (the "Maintenance CFD"). The Parties shall formally commence this formation process promptly upon completion of annexation, and shall work collaboratively and with diligence and good faith to attempt to complete said formation process within six (6) months thereafter or within such other reasonable time frame agreed upon by the Parties. Formation of said Maintenance CFD shall occur prior to issuance of the building permit for the first residential unit. At Developer's request, the Parties shall also cooperate to process, consider and form a facilities CFD (the "Facilities CFD"). The combined total effective special tax rate for the Maintenance and Facilities CFDs shall not exceed one and one half percent (1.5%) of the total tax burden on each home. Furthermore, to the extent all or a portion of the Project's landscaping obligations are covered by the Project's Homeowners' Association ("HOA"), then the amount of said obligations shall be correspondingly reduced in the Maintenance CFD. If City fails to approve the foregoing CFD formation despite Developer's cooperation in this regard, Developer shall have no further obligations under this subsection (f). Notwithstanding anything to the contrary in the foregoing, the Parties agree that City shall be under no obligation to accept Project improvements until the Maintenance CFD is formed. g. Pursuant to the timing set forth in the Project Approvals, Developer shall fund and construct the Off-site Water Improvements and the Off-site Sewer Improvements, as identified on attached DA Exhibits E and F, respectively, and consisting of the following: i) installation of a looped water distribution system that complies with the Planning and Design Criteria Summary presented in Table ES.1 of the City's Water Distribution System Capacity Master Plan dated May 2024, as further delineated in the Water Report, and ii) sizing of existing downstream sewer lines as described in Section 6.2.2 (Scenario 2, Option A: CIP) in the Sewer Report by Woodard & Curran Collectively, the foregoing shall be referred to herein as the "Off-site Water and Sewer Improvements"). Based on the increased infrastructure demand created by the Project, in combination with demand from other unrelated developments, Developer shall be responsible for its fair share costs of the Off-site Water and Sewer Improvements as set forth in this Section 3.2(g). Since Developer will be funding and constructing the Off-site Water and Sewer Improvements and because such improvements also provide a benefit to third parties (each, a "Benefitting Developer"), then Developer shall receive City connection fee credits for the total cost (including both hard and soft costs as evidenced by City-verified contractor invoicing) of the Off- site Water and Sewer Improvements. In addition, since City connection fee credits will not fully offset the costs of the Off-site Water and Sewer Improvements, Developer shall also be reimbursed by City via funds from any and all supplemental fair share payments made to City by other Benefitting Developers (e.g., Kiewit Developer, with respect to the Off-site Sewer Improvements). Furthermore, to the extent that Developer has not been fully reimbursed for the foregoing costs via fee credits and the foregoing reimbursement via City-collected fees, Developer also shall have the right to be reimbursed directly from other Benefitting Developers via reimbursement agreements with said Benefitting Developers ("Third-Party Reimbursement"). City shall facilitate such Third-Party Reimbursement by imposing condition(s) of approval on development applications that benefit from the installation of the Off- site Water Improvements and/or Off-site Sewer Improvements submitted by such Benefitting Developers. The amount due by such Benefitting Developers shall be calculated based on a fair share methodology consistent with the assumptions used in the Off-Site Water Report (as set forth in attached DA Exhibit E) and Off-Site Sewer Report (as set forth in DA Exhibit F). h. A monetary contribution to City that shall be used by City for the purpose of designing and constructing El Charro Road improvements in order to improve traffic 11