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<br />from a proposed residential development, if it is funded throuah the <br />developer's proportionate share mitiaation contributions. Mitiaation <br />options may include, but are not limited to: <br /> <br />L Contribution of land or payment for land acauisition suitable <br />for and in conjunction with. the provision of additional school <br />capacjty: or <br /> <br />ii. Mitiaation bankina based on the construction of a <br />educational facility in exchanae for the riaht to sell capacity <br />credits: or <br /> <br />iii. Provide modular or permanent student stations acceptable <br />for use as an educational facilities: or <br /> <br />iv. Provide additional student stations throuah the remodelina of <br />existina buildinas acceptable for use as an educational <br />facility: or <br /> <br />v. Construction or expansion of permanent student stations at <br />the imoacted school within the CSA: or <br /> <br />vi. Construction of a educational facility in advance of the time <br />set forth in the School Board's Five-Year Capital <br />Imorovement Plan. <br /> <br />4. For mitiaation measures (i) thnu (vi) above, the estimated cost to construct <br />the mitiaatina capacity will reflect the estimated future construction costs <br />at the time of the anticipated construction. Improvements contributed by <br />the developer shall receive school impact fee credit. <br /> <br />5. Developer shall receive an impact fee credit for the proportionate share <br />mitiaation. Credits will be aiven for that portion of the impact fees that <br />would have been used to fund the improvements on which the <br />proportionate fair share contribution was calculated. The portion of impact <br />fees available for the credit will be based on the historic distribution of <br />impact fee funds to the school type (elementarv, middle, hiah) in the <br />aooropriate CSA. Impact fee credits shall be calculated at the same time <br />as the applicant's proportionate share obliaation is calculated. Any school <br />impact fee credit based on prooortionate fair share contributions for a <br />propOsed development cannot be transferred to anv other parcel or <br />parcels of real propertY within the CSA. <br /> <br />6. A proportionate share mitiaation contribution shall not be subseauentlY <br />amended or refunded after final site plan or plat approval to reflect a <br />reduction in planned or constructed residential density. <br /> <br />7. Impact fees shall be credited aaainst the proportionate share mitiaation <br />total. <br /> <br />8. Any proportionate share mitiaation must be directed bv the School Board <br />toward a school caoacity imorovement identified in the School Board's <br />Five-Year Capitallmorovement Plan. <br />Ordinance 09-1265 <br />Page 5 <br />