Major Phases Sample Clauses
The "Major Phases" clause defines and outlines the key stages or milestones within a project or contractual engagement. It typically breaks down the overall work into distinct segments, such as planning, development, testing, and delivery, each with its own objectives and deliverables. By clearly identifying these phases, the clause helps both parties track progress, allocate resources appropriately, and set expectations for completion. Its core function is to provide structure and clarity to the project timeline, reducing misunderstandings and facilitating effective project management.
Major Phases. The Parties intend that Major Phases allow for planning of large mixed-use areas or neighborhoods within the Project Site. The Agency’s consideration and Approval of each Major Phase Application in the manner set forth in the DRDAP (each, as amended from time to time, a “Major Phase Approval”) is required before, or concurrently with, the Agency’s consideration of and grant of a Sub-Phase Approval for any Sub-Phase in that Major Phase.
Major Phases. The approximate location and size of the Authority Housing Lots is set forth in the Housing Map , and may be revised as part of a Major Phase Approval or Sub-Phase Approval or otherwise as set forth in the DRDAP. The Housing Map has been designed and Approved so as to maintain general proportionality in location and phasing between the development of Market Rate Units and Authority Housing Units at all times. Without limiting the foregoing, the Parties agree that in order to provide flexibility in implementation: (i) within each Major Phase, the total Residential Acreage of the Authority Housing Lots on Treasure Island shall not be less than fifteen percent (15%) of the total Residential Acreage of the Market Rate Lots and Authority Housing Lots combined in that Major Phase, (ii) at the time of the Approval of the Major Phase that includes the 3,160th Developer Residential Unit, the Cumulative Total Authority Housing Acreage on Treasure Island shall not be less than twenty percent (20%) of the total Residential Acreage of the Market Rate Lots and Authority Housing Lots combined; and (iii) upon the Completion of all Major Phases, the Cumulative Total Authority Housing Acreage on Treasure Island shall not be less than twenty-one and seven-tenths percent (21.7%) of the total Residential Acreage of the Market Rate Lots and Authority Housing Lots combined. For purposes of this Section, the Percentage of Cumulative Total Authority Housing Acreage shall be calculated as follows: (i) the total Residential Acreage of the Authority Housing Lots on Treasure Island in a Major Phase Application plus the total Residential Acreage of all Authority Housing Lots on Treasure Island in all previously Approved Major Phases, divided by (ii) the total Residential Acreage of all Market Rate Lots and Authority Housing Lots on Treasure Island in that same Major Phase Application plus the total Residential Acreage of all Market Rate Lots and Authority Housing Lots on Treasure Island in all previously Approved Major Phases.
Major Phases. The approximate location and size of the Authority Housing Lots is set forth in the Housing Map, and may be revised as part of a Major Phase Approval or Sub-Phase Approval or otherwise as set forth in the DRDAP. The Housing Map has been designed and approved so as to maintain general proportionality in location and phasing between the development of Market Rate Units and Authority Housing Units at all times. Without limiting the foregoing, the Parties agree that in order to provide flexibility in implementation: (i) within each Major Phase, the Cumulative Total Authority Housing Acreage on Treasure Island shall not be less than twenty percent (20%), (ii) at the Second Inclusionary Milestone, the Cumulative Total Authority Housing Acreage on Treasure Island shall not be less than twenty-five percent (25%); and (iii) upon the Completion of all Major Phases, the Cumulative Total Authority Housing Acreage on Treasure Island shall not be less than twenty- seven percent (27%). For purposes of this Section, the Percentage of Cumulative Total Authority Housing Acreage shall be calculated as follows: (i) the total acreage of the Authority Housing Lots on Treasure Island in a Major Phase Application plus the total acreage of all Completed Authority Housing Lots on Treasure Island in all previously Approved Major Phases, divided by (ii) the total acreage of all Residential Developable Lots on Treasure Island in that same Major Phase Application plus the total acreage of all Completed Residential Developable Lots on Treasure Island in all previously Approved Major Phases.