Developer Contribution for Early Childhood Initiatives and Resident Services Sample Clauses

Developer Contribution for Early Childhood Initiatives and Resident Services. Prior to issuance of the Certificate of Occupancy for the Project, Developer shall make a contribution to the City in the amount of one million and one hundred thousand dollars ($1,100,000.00). The City shall utilize this contribution to support early childhood initiatives and resident services including but not limited to infant, toddler and pre-school tuition subsidies; family services, family support and parent engagement strategies; home visitation programs; facility and playground improvements; and kindergarten readiness models. The City shall deposit such monies into a separate restricted account to be used exclusively for the early childhood initiatives and resident services as described above through guidelines to be established by the City. First priority for receipt of these monies shall be residents of the affordable housing project located at 1626 Lincoln or agencies who will serve residents of the 1626 Lincoln project.
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