Agenda - 02-26-1996 - 1a & b - Laserfiche WebLink

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' 1 r 012 SECTION 6 - CREDITS 1 Any conveyance of land for a public school site jor construction of new school facilities received and accepted !by Orange County, a municipality located in Orange County, and/or *he Dora ge County or Chapel Hill-Carrboro School Board from a i� be credited agains e p is ac oo impact ee ue i e conveyance ;or construction meets the same needs as the public school impact fee in roviding new public school facilities. if the devel_r__ virwhes to receive credit against the amount of the public scr,Lool impacs eo due for such conveyance or construction, �he develepee "` shall, prior to the agreement to convey land for :or cons c sew public school facilities, or the conveyance of land for or construction of new school facilities, enter into a fee agreement with the County. The fee agreement shall provide for the establishment. of credits P .1'.yPayment. of the fee in a s ifisd manner and tine The value of land conveyed or facilities constructed de pile+�� and accepted by the County, municipality {or school boar or purposes of this section shall be determined bylan appraisal based on the fair market value of the land or facilities as established by the County. Construction shall be in accorda0ce with applicable County, municipal, school board, ands State standards. Any land conveyed for credit under this section shill be conveyed no later than the time at which public school impact fees are required to be paid. The portion of the public school impact fee represented by a credit for construction shall be deeaed paid when the construction is completed and accepted for maintenance or when adequate security for the completion of the construction has been provided. 1s9\hame3\sec6.imp ' i 1 i i 1 i 1