Plan Packet. Within sixty (60) days of the Effective Date, the Developer shall submit its proposed Building Plan, Construction Schedule, Construction Budget, and Sources and Uses Statement (all of which constitute the “Plan Packet”) to the Review Panel for review and approval. The Review Panel shall, after consultation with the Developer, provide notice of its approval or disapproval of the Plan Packet within ten (10) calendar days after receipt of the Plan Packet from the Developer. The Review Panel, in its sole and absolute discretion, may exercise reasonable discretion in approving or disapproving the Plan Packet, consistent with this Agreement, the Covenants and Restrictions, and thebuilding permit and zoning requirements. If the Review Panel disapproves of the Plan Packet, the Developer and the Review Panel shall meet to discuss the Review Panel’s concerns and options for modifying the Plan Packet to make it acceptable to the Review Panel.
Plan Packet. Within sixty (60) days of the Effective Date, the Developer shall submit its proposed Building Plan, Construction Schedule, Construction Budget, and Sources and Uses Statement (all of which constitute the “Plan Packet”) to the Review Panel for review and approval. The Review Panel shall, after consultation with the Developer, provide notice of its approval or disapproval of the Building Plan within ten (10) calendar days after receipt of the Plan Packet from the Developer. The Construction Schedule, Construction Budget and Sources and Uses statement are for review and discussion only, and do not require approval by the Review Panel. The Review Panel may exercise reasonable discretion in approving or disapproving the Building Plan, consistent with this Agreement and building permit and zoning requirements. If the Review Panel disapproves of the Building Plan, the Developer and the Review Panel shall meet to discuss the Review Panel’s concerns and options for modifying the Building Plan to make it acceptable to the Review Panel. If the Review Panel’s requested changes increase the costs of the Project by more than Three Thousand Dollars ($3,000.00), the FDC and/or RDC agree to work in good faith to resolve the issue, including giving consideration to requesting additional funding from the RDC.
