Developer agrees to $44K school capacity mitigation payment

$44,109.00

OTHER

Effective on date of last signature; terminates if City does not approve the Development Permit Application within 180 days of effective date or upon expiration of the Certificate of Concurrency

Agreement terminates if the City does not approve the Development Permit Application within 180 days of the effective date; it also terminates upon expiration of the Certificate of Concurrency, after which capacity becomes unencumbered but the applicant retains the payment value as credit toward future mitigation. Amendments require written execution by all parties and rights may be assigned to a third-party purchaser with prior written consent.

Agreement