Examples of Recovery Payment in a sentence
The Association acknowledges and agrees that it is responsible for the payment of the Staffing Cost Recovery Payment.
The Park Board will invoice the Association for the costs on a quarterly basis, unless otherwise agreed to by the parties, and the Association agrees to pay the Park Board the amount of the Staffing Cost Recovery Payment in full within 30 days of delivery of the invoice by the Park Board.
Once approved by the Association, the Association acknowledges it is responsible to pay the full actual costs of the Staffing Cost Recovery Payment for the full year, or portion thereof, as applicable.
The Park Board/City will employ and pay for Park Board Personnel required and assigned to operate and maintain the Jointly Operated Facilities, subject to the Association’s obligations to pay the Staffing Cost Recovery Payment.
Any project which receives LHC Soft Funds and which evidences satisfaction of the Minimum Reserve Balance will be permitted a Capital Recovery Payment on Taxpayer Capital equal to 350 basis points above the comparable Treasury bill yields as of the Closing Date that are coterminous with the return of taxpayer capital over a maximum ten (10) year period.
The Park Board shall obtain the Association’s approval for the Staffing Cost Recovery Payment costs and the positions to be covered on an annual basis in alignment with the Park Board annual budgeting cycle, including any salary or wage increases negotiated under the collective agreement annually, and the Association will advise the Park Board of its decision to approve or not approve the costs within 60 days of such request for approval from the Park Board.
The Association acknowledges that, if it chooses to not approve all or any portion of the Staffing Cost Recovery Payment costs, the Park Board has the right to adjust staffing levels to reflect the lack of funding, up to and including elimination of the position that was formerly covered by the Staffing Cost Recovery Payment.
The Owner is also required to pay all other applicable Regional Development Charges (DCs) and Front-ending Recovery Payments prior to the issuance of any building permits, unless a subdivision (or other form of development) agreement is required in which case a portion of the DC’s and Front-ending Recovery Payment may be payable upon execution of the agreement.
All residential development applicants and every owner of land located in Halton Region assume all of the responsibilities and risks related to the use of the information provided herein.Please visit our website at www.halton.ca/developmentcharges to obtain the most current development charge and Front-ending Recovery Payment information, which is subject to change.
Any project which receives Soft Funds from the Corporation and which evidences satisfaction of the Minimum Reserve Balance will be permitted a Capital Recovery Payment on Taxpayer Capital equal to 350 basis points above the comparable Treasury bill yields as of the Closing Date that are coterminous with the return of taxpayer capital over a maximum ten year period.