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PROJECT DEVELOPMENT AGREEMENT - AGREEMENT SYNOPSISProject Development Agreement • September 15th, 2008
Issue Comment / Synopsis Parties Aberdeen City Council. Aberdeen Football Club PLC ("AFC"). Purpose To allocate responsibility and share costs in relation to the tasks leading to the preparation of a Final Business Case and Feasibility Study for the Arena Community Stadium Project. The Feasibility Study will include both the King’s Links and Loriston Loch sites. The Final Business Case and a report on the Feasibility Study will be presented to the Council and the board of AFC in January 2009. Council's financial exposure Maximum of £225,000 (excluding VAT) in relation to the tasks leading to the preparation of a Final Business Case and Feasibility Study. Additional commitment to discuss in good faith with AFC the sharing of additional costs to be incurred by AFC relating to a business case and concept design for each of the sites (estimated to be a potential share of £150,000). Cost sharing mechanism On completion of the Final Business Case and a report on the Feasibility Study, the th
