Common use of Approval of District Project Costs Clause in Contracts

Approval of District Project Costs. From time to time, the Developer may submit Certificates of Reimbursable District Project Costs in substantially the form of Exhibit C attached hereto to the City and the District, evidencing costs incurred by the Developer in the construction of the District Project. The City and the District shall review each Certificate of Reimbursable District Project Costs and provide written objections, if any, to the Developer within 30 days from receipt thereof. If any objections are provided, the Developer shall cure such objections and resubmit the Certificate of Reimbursable District Project Costs. If no objections are provided within 30 days of receipt, the Certificate of Reimbursable District Project Costs shall be deemed approved by the City and the District on the 31st day following receipt (unless affirmatively approved by the City before such date). The maximum amount of costs that may be included in approved Certificates of Reimbursable District Project Costs is $5,358,705, excluding Costs of Issuance, if any, and the District’s administrative fees and expenses, including but not limited to, fees and costs related to the District’s formation, planning consultants, advisors, auditors and legal counsel.