Common use of Proportionate Fair Share Clause in Contracts

Proportionate Fair Share. In connection with the City's construction of Concurrency Improvements, as set forth in Exhibits “A-2”, Developer shall pay to the City a fair share assessment in the amount of the Total Fair Share Contribution, as defined in Exhibit A-1, hereinafter “Total Fair Share Contribution”, or, if applicable, the difference between the Total Fair-Share Contribution, and the value of the Construction Improvements, as described in subsection (b) of this Section 3, pursuant to Section 8(f) , Article V, Chapter 21, Land Development Code, City of Port Orange, hereinafter the "Fair Share Payment." Developer agrees to pay the Fair Share Payment to the City in the form of a certified check payable to the City of Port Orange in an amount as determined in Exhibit “A-2”. The City shall apply the Fair Share Payment to the Concurrency Improvements described in Exhibit “A-2”. Upon the City’s receipt of the payment from the Developer, the funds shall become the property of the City and the right to request a refund is waived. The payment must be deposited with the City within 30 days of the city council’s approval of this Agreement and shall be required prior to the issuance of a Development Order for the Development.