The City Conference Center Unit Sample Clauses

The City Conference Center Unit. (a) The City will agree to purchase the City Conference Center Unit from the Developer for a purchase price equal to the lesser of $6,525,000 (based on the Parties’ estimate that the City Conference Center Unit will contain 29,000 square feet at a cost of $225 per square foot) or the actual cost of constructing the City Conference Center Unit, subject to the City’s ability to issue the TIF Bonds to fund the purchase price and other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement. The Parties currently project that the taxable value of the completed Project will equal approximately $660,000. If costs of construction of the City Conference Center Unit are greater than $6,525,000, and if the actual taxable value of the completed Project is greater than $660,000 in the tax year in which the City will acquire the City Conference Center Unit or is projected to be greater than $660,000 in the tax year following the tax year in which the City will acquire the City Conference Center Unit (in each case, based on information from the Montana Department of Revenue), the City reserves the right, pursuant to a subsequent amending and/or restated bond resolution that would need to be approved by the City Council, to increase the purchase price of the City Conference Center Unit in an amount that can be financed by the increase in tax increment bonding capacity attributable to such increased taxable value of the Project; provided that the purchase price shall not exceed the cost of construction of the City Conference Center Unit. The Developer acknowledges and agrees that no money or credit of the City is available to fund the purchase price of the City Conference Center Unit other than proceeds available from the TIF Bonds and if the City is not able to issue such TIF Bonds in the aggregate amount of such purchase price, the City will be unable to pay such purchase price.
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The City Conference Center Unit. The City will agree to purchase the City Conference Center Unit from the Developer following substantial completion of the Project for a purchase price equal to the lesser of the square foot cost applicable to constructing the City Conference Center Unit (negotiations have assumed a certain dollar amount per square foot) or the actual cost of constructing the City Conference Center Unit, subject to the City’s ability to issue the TIF Bonds to fund the purchase price and other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement. The Developer acknowledges and agrees that no money or credit of the City is available to fund the purchase price of the City Conference Center Unit other than proceeds available from the TIF Bonds and if the City is not able to issue such TIF Bonds in the aggregate amount of such purchase price, the City will be unable to pay such purchase price. The TIF Bonds allocated to the purchase price of the City Conference Center Unit are expected to be issued on a taxable basis.  The Parking Facility. o The City will agree to purchase the Parking Facility from the Developer following substantial completion of the Project for a purchase price equal to the lesser of the per-parking-space costs of construction of each parking space to be included in the Parking Facility or the actual cost of constructing the Parking Facility, subject to the City’s ability to issue the TIF Bonds and the Parking Facility Revenue Bonds to fund the purchase price and other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement. The Developer acknowledges and agrees that no money or credit of the City is available to fund the purchase price of the Parking Facility other than proceeds available from the TIF Bonds and the Parking Facility Revenue Bonds and if the City is not able to issue such TIF Bonds and Parking Facility Revenue Bonds in the amount of such purchase price, the City will be unable to pay such purchase price. All or a portion of DISCUSSION DRAFT the TIF Bonds allocated to the Parking Facility and/or the Parking Facility Revenue Bonds may be issued on a taxable basis. o The purchase price of the Parking Facility is currently based on the Parties’ estimate that the Parking Facility will include approximately 295 spaces and each parking space will cost approximately $23,057 per space to construct. It is currently anticipated that the Developers would own approxi...
Sample 1
The City Conference Center Unit. The City will agree to purchase the City Conference Center Unit from the Developer following substantial completion of each of the City Conference Center Unit and the Parking Facility, as evidenced by a temporary certificate of occupancy with respect to each unit. The parties are targeting a purchase price of approximately $16,500,000, which is the current cost estimate based on the current conceptual design and which includes the estimated cost of the items of personal property and equipment (i.e., furniture, fixtures and equipment, or “FF&E”) necessary to operate the City Conference Center Unit. The final purchase price will be set by the parties at or prior to the Developer’s construction financing closing (the “Construction Financing Closing”). In concept, the purchase price would be equal to the lesser of approximately $16,500,000 or the actual cost of constructing the City Conference Center Unit. Payment of the purchase price and acquisition of the City Conference Center Unit will be subject to the City’s ability to issue the Conference Center Bonds, which will be tax increment bonds, to fund the purchase price and to other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement.
Sample 1

Related to The City Conference Center Unit

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  • Pre-Construction Conference Participate in a Pre-Construction Conference prior to commencement of Work at the Site.

  • Preconstruction Conference Prior to, or concurrent with, the issuance of the Notice to Proceed with Construction, a conference will be convened for attendance by the Owner, Contractor, A/E and appropriate Subcontractors. The purpose of the conference is to establish a working understanding among the parties as to the Work, the operational conditions at the Project Site, and general administration of the Project. Topics include communications, schedules, procedures for handling Shop Drawings and other submittals, processing Applications for Payment, maintaining required records and all other matters of importance to the administration of the Project and effective communications between the project team members.

  • Quarterly Conference Calls The purpose of this contact will be to obtain a greater understanding of the performance of the Portfolio, the reasons for that performance, and to gain valuable insights into the Portfolio provided by the manager.

  • PRE-JOB CONFERENCE Section 1. Upon written request by either Party, a pre-job conference will be held prior to the time the Employees of such Employer begin work on the project.

  • Annual Conference Vote This Disaffiliation Agreement must be “ratified by a simple majority of the members . . . present and voting” at a duly-called session of The Western North Carolina Annual Conference of The United Methodist Church, as required by Judicial Council Decision 1379 and ¶ 2529.1b(3)

  • Post-Observation Conference 1. The post-observation conference between the evaluator and teacher will be held no later than five (5) days after the formal observation.

  • Conference requirement and procedure 4.5.1 The employer, or the employers’ representative, shall, when requested by the employees or an employee representative, confer (within a reasonable period of time which should not exceed 1 hour) for the purpose of determining weather or not conditions are inclement. Weather shall not be regarded as inclement unless it is agreed at such conference.

  • Evaluation Conference The final evaluation conference shall occur not later than the end of the fall term. The purpose of the final evaluation conference is to discuss with the probationary employee the results of the evaluation and announce the team's recommendation. The evaluation team shall determine what additional evaluation activity shall occur during the spring term. If the team recommends that the District not employ the professor for the following year, no evaluation activities in the spring are necessary.

  • PRE-BID CONFERENCE A required pre-bid conference is held for vendors planning to submit proposals. The conference agenda items include the following:  Bid packet terms and conditions.  Line item specification review.  Scope of work.  Delivery parameters.  Award criteria.  Addendums.  Proposal response requirements.  Questions and answers.

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