Description of Reimbursable Project Segments, Portions and Phases Sample Clauses

Description of Reimbursable Project Segments, Portions and Phases. In order to determine whether CFD funds may be used to reimburse RMV for segments, portions and/or phases of the Project Elements (all in accordance with Section I, above), the components of the Project Elements, and the values thereof, must be identified. However, given that this Agreement predates RMV’s negotiation, execution and delivery of the individual contracts for the Project Elements, it is not possible for RMV and the County to immediately categorize, identify and value the CFD-reimbursable components. Accordingly, the Parties agree that the following protocol shall be utilized for obtaining said data: • Following RMV’s negotiation and execution of a contract for a Project Element (a “Project Contract”), RMV shall notify the County regarding said fact and provide the County with a copy of the Project Contract. • Within thirty (30) days following RMV’s delivery of the Project Contract to the County, representatives of RMV, the County Director of Public Finance (or his Agreement No. __________ designee) and the Project Contract contractor shall meet and confer for the purpose of identifying (i) segments, portions and/or phases (as appropriate) for the work described in the Project Contract and (ii) the value to be ascribed to each segment, portion and/or phase. The Parties shall utilize the form attached hereto as Schedule B-1 (the “Project Cost Form”) to memorialize the work divisions and valuations determined during their meeting. • The completed Project Cost Form shall be executed by each of RMV and the County Director of Public Finance (or his designee) and shall thereafter be appended to, and incorporated into, this Agreement. The Project Cost Form may be subsequently updated and amended upon mutual agreement, in writing, between, RMV and the County Director of Public Finance (or his designee). Execution of the Project Cost Form (and any updates or amendments thereto) shall not require the prior approval of the Board of Supervisors to be effective, as the County Director of Public Finance (or his designee) has authority to act on behalf of the County in relation to the Project Cost Form and any updates or amendments thereto.
Sample 1
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