City Funding. City agrees to provide proceeds from the City’s Room Tax to Contractor for the services provided under this Agreement. The City will provide up to 30% of the proceeds from a tax rate of 9% and 70% of the proceeds from any tax rate in excess of 9% (10% on June 1, 2014 and 10.4% on June 1, 2015), less the City’s administrative costs (audit and overhead costs). The amount paid monthly to Contractor shall be based on City projections as to the amount of revenue forecasted to be received by Room Tax receipts adjusted by the prior month’s budget to actual variance, subject to 3(d) above.
City Funding. The City Shall pay BNSF for all actual labor coStS, material coStS, equipment coStS, and other coStS and eXpenSeS incurred by BNSF in performing the railroad work required for conStruction of the Project in a total amount not to eXceed $2,400,000.00. ThiS amount conSiStS of the eStimated conStruction coSt of $1,830,535.00 aS Set forth in EXhibit “B”, $140,000 for flagging, and a conStruction contingency fund of $429,465.00. The conStruction contingency fund Shall be uSed to reimburSe BNSF if itS actual conStruction coStS eXceed the eStimated conStruction coStS. If during the courSe of conStruction BNSF anticipateS that itS actual conStruction coStS will eXceed the eStimated conStruction coSt, BNSF Shall promptly notify the City So additional fundS can be appropriated to complete conStruction of the railroad work required for the Project. BNSF may diScontinue conStruction activitieS until Such time aS the City notifieS BNSF that Sufficient additional fundS have been appropriated. If the City failS to appropriate Sufficient additional fundS, BNSF may terminate thiS Agreement purSuant to Article III, Section 3.
City Funding. The City shall pay Hanzon Studios an amount not to exceed Seven Hundred Thousand and 00/100 dollars ($700,000.00) (the “Advance”), in the manner set forth below, which shall be used by Hanzon Studios for expenses directly related to the development, promotion, staging and realization of Camp Christmas (“Camp Christmas Expenses”).
City Funding. The City will provide up to $228,110 to the Redevelopment Authority of the City of Milwaukee (“RACM”) from Tax Incremental District Bond Account No. TD07188001 for the purposes of providing a Grant for Project.
City Funding. The City will endeavor to obtain funding to apply towards the cost of improvements within the Summit Street Commercial Corridor consistent with the SSIP. The City will also pursue grant dollars that may be available to match the City’s commitment. ProMedica will work with the City to pursue grant dollars and private funding to support these improvements.
City Funding. In return for the Museum’ s performance of duties specified in this Operating Agreement, the City agrees to provide annual funding ( payable to the Museum in accordance with Section 5 below) in the following calendar years and amounts: 2010 $136,000.00 2011 $138, 040.00 2012 $142,181.20 2013 $146,446.64 2014 $150,840.04 Museum shall maintain its operating reserve to ensure financial security for at least 3 to 6 months of operating expenses. Museum shall demonstrate average annual growth in earned income and/ or private contributions in each rolling three year period covered by this Agreement.
City Funding. 3 TERM..................................................................................................................................................... 4
City Funding. 4.01 For the period starting on XXXX XX, XXXX and ending on XXXX XX, XXXXX, The City shall provide funding to the Organization in the amount of $XXX. Payments may be made quarterly, or annually.
City Funding. (i) As stated in the recitals hereto, the City has conditionally agreed to provide the City Funds to assist in the funding of construction of IPTC’s three (3) planned BRTs. The parties hereby agree that $2,000,000.00 of the DPW Funds (the “DPW RL 1 Project Funds”) and the total $6,000,000.00 of the DMD Funds shall be utilized for construction of the RL 1 Project, subject to the conditions hereof and as detailed in Schedule I, attached hereto and incorporated herein. The remaining $4,000,000.00 of the DPW Funds will be utilized to assist in funding the construction of the Purple Line, the Blue Line and Red Line Phases 2 and 3 as detailed in Schedule I.
City Funding. CITY funding for the ECLC project will be limited to funds for capital development of the ECLC and will not include any future funding for the operations and maintenance of the facility.
