Redevelopment Contracting Clause Samples

Redevelopment Contracting. All contracting for redevelopment shall be subject to approval by the governing bodies of the Parties. The Parties shall jointly develop and approve a budget (the Project Budget) for redevelopment covering design, construction, fixtures & equipment, and a contingency reserve. Total project costs shall not exceed the approved Project Budget. Contracts with contractors, consultants, material suppliers, or other persons supplying goods, services, or labor shall be in writing and approved by the governing bodies of the Parties. i. In their discretion, the Parties may elect to form a separate entity for contracting purposes, which may be responsible for contracting and administration during the redevelopment/construction phase. Any such entity will be a non-profit corporation formed in accordance with Utah law, as further defined in its governing documents.