Mitigation Cost definition
Examples of Mitigation Cost in a sentence
The Participant acknowledges that WAFWA may not be able to secure the additional necessary offset units in time to prevent disruption to Participant’s Impact Activities and therefore may assess an administration fee of 18.75% rather than 12.5% on the associated Mitigation Cost.
For purposes of this paragraph, the payments required by SFWMD, Village and/or ACOE, together with professional fees incurred by Buyer in pursuing development permits for the wetlands, will be referred to as "Mitigation Cost".
Should Developer fail to satisfy the Phase II Tree Mitigation Obligation by the Mitigation Deadline, the City shall have the right to cause Developer to replace the Tree Mitigation Bond with a cash escrow fund in the amount of the Full Mitigation Cost (the "Future Mitigation Escrow") which Future Mitigation Escrow may be used by the City to be deposited into the Tree Preservation Fund or to plant trees in other locations established by the City within the City limits.
The Mitigation Cost will be the only payment required of CITY OF WESTFIELD to Cardno under this Agreement in connection with Cardno’s performance of its duties and obligations hereunder.
If the contribution of land by the Seller results in a reduction of the Mitigation Cost from $350,000 to $300,000, then the Seller will be responsible for $220,000 of Mitigation cost and the Buyer will be responsible for the balance.
Promptly following Developer's satisfaction of the Phase II Tree Mitigation Obligation or depositing the Full Mitigation Cost into the Future Mitigation Escrow, whichever occurs first, the City shall release the Tree Mitigation Bond, and Developer shall have no additional obligations under this Agreement.
Tree (inches) to be replanted 393 trees (1,570 inches) Dollar Equivalent of total trees to be replanted $235,800.00 Full Mitigation Costs $235,800.00 The City Engineer does hereby confirm his approval of the above-referenced Full Mitigation Cost.
By way of an example, assume that the Mitigation Cost is determined to be $350,000.
Seller agrees that within a reasonable time after the Buyer has applied for its permits to develop the wetlands, it will make a final decision whether or not it will contribute land in an effort to reduce the Mitigation Cost.
Contemporaneously with the Developer's execution of this Agreement and the City's approval of the Final Plat and the PIP, Developer shall deliver a fiscal surety bond to secure Developer's Phase 1 Tree Mitigation obligation (the "Tree Mitigation Bond") in the amount stated under "Full Mitigation Cost" below.