City Participation. The City does not anticipate expending any of its own resources in the initial development of the Park Site.
City Participation. The City agrees to reimburse Developer in an amount equal to $38,777.00 as shown on Exhibit “B”, conditioned upon Developer constructing the Project pursuant to the design plans previously approved by the City.
City Participation. The City’s obligations under this Agreement shall not exceed Six Million Five Hundred Thirty-Seven Thousand Dollars ($6,537,000.00) for all obligations set forth herein, including all Incentives, construction obligations and values of properties conveyed to BTX, in excess of the price paid by BTX for the conveyance. City Participation includes funds contributed by the District and the BEDC. The District authorizes the expenditure of up to Three Million One Hundred Ninety-Six Thousand Five Hundred Dollars ($3,196,500.00). The BEDC authorizes the expenditure of up to Two Million Forty-Five Thousand Seven Hundred and Sixty Dollars ($2,045,760.00) The BEDC and the District authorize the City Manager to allocate such funds as permitted by law, and as necessary to meet the City obligations set forth in this Agreement.
City Participation. The City Manager, or his/her designated representative (hereinafter "City Manager"), and two other members appointed annually by the Mayor shall be voting members of the Board. All non-CITY prospective Board members shall be appointed by the Board, subject to veto of their appointment by the CITY's Mayor.
City Participation. The City agrees to pay up to $2,400,000, 75% of $3,200,000 P25 estimated radio upgrade cost.
City Participation. There shall be no right to any City participation in any of the costs of constructing the Required Improvements/Public Realm Improvements.
City Participation. The CITY shall pay to OWNER forty-nine percent (49%) of the total cost of the project or improvements described in Exhibit A, or the sum of Five Hundred Dollars ($500.00), whichever is less, towards the cost of the project or improvements. Said sum shall be paid to the OWNER by the CITY upon the presentation to the CITY and the approval by the CITY of proof that the project or improvements are being completed consistent with the description in Exhibit A and DIG-IT requirements, and paid for by the OWNER.
City Participation. The City’s obligation to make Grant Payments under this Agreement shall not exceed the sum of TWO MILLION DOLLARS ($2,000,000.00). The City authorizes the City Manager to allocate such funds as permitted by law and necessary to meet the City’s obligation to make Grant Payments as set forth in this Agreement.
City Participation. The City agrees to pay Trott Communications in the amount of $43,003.34 for its part of the Professional Services Agreement.
City Participation. In addition to contribution of the EPIP Fund described in Section 3(e) and Exhibit H, Developer will make a contribution to the City through application of a profit participation formula more fully described in Exhibit F, and which provides the City backend participation after Developer reaches a 20% unlevered investment rate of return. It is anticipated based on the Proforma’s current projections that this profit participation model will yield a return to the City of approximately $23.5 Million. Developer and City acknowledge the need to negotiate the terms for conveyance of property from the Navy. Any land acquisition payment required to be made to the Navy (which could include an up- front payment, a participation framework, or some other structure) would be considered a project cost for purposes of the Proforma.
