Fiscal Considerations. The parties to this Agreement recognize and acknowledge that County is a political subdivision of the State of California. As such, El Dorado County is subject to the provisions of Article XVI, Section 18 of the California Constitution and other similar fiscal and procurement laws and regulations and may not expend funds for products, equipment or services not budgeted in a given fiscal year. It is further understood that in the normal course of County business, County will adopt a proposed budget prior to a given fiscal year, but that the final adoption of a budget does not occur until after the beginning of the fiscal year.
Fiscal Considerations. This is a cost reimbursable agreement. Total cost to Sponsor shall not exceed ____________________________________________dollars ($_________). Payments shall be made by Sponsor within 30 days of receipt of monthly invoices (in accordance with invoice instructions). Sponsor shall be responsible for all collection costs associated with non-payment. Penn State may immediately discontinue performance of Project if Sponsor fails to pay any invoice within the time specified above, notwithstanding the notification requirements in Article 11. In the event of early termination of this Agreement pursuant to Article 11 hereof, Sponsor shall pay all reasonable costs incurred and non-cancelable obligations incurred by Penn State as of the date of termination. Invoices shall be sent to the following email address _______________________________________________.
Fiscal Considerations. This is a fixed price agreement. The total price of the Project will be . Payments shall be made in accordance with the payment schedule referenced in Appendix B. Sponsor shall be responsible for all collection costs associated with non-payment. University shall retain title to any equipment purchased with funds provided by Sponsor under this Agreement. In the event of early termination of this Agreement pursuant to Article 8 hereof, Sponsor shall pay all reasonable costs incurred and non- cancelable obligations incurred by University as of the date of termination.
Fiscal Considerations. This is a cost reimbursable Agreement. Total cost to Sponsor shall not exceed
Fiscal Considerations. The parties to this Agreement recognize and acknowledge that funding for this project is from an anticipated advance from development projects currently pending within the City, and as such, Consultant will not be authorized to proceed with the work until City has actually received the funds, and a formal notice to proceed is issued to Consultant.
Fiscal Considerations. (i) The Committee has access to the funding with an annual limit of seven dollars and fifty cents ($7.50) per regular and posted auxiliary employee.
(ii) The Committee may allot funds to campus or work unit groups for personnel development activities.
Fiscal Considerations. The parties to this Agreement recognize and acknowledge that County is a political subdivision of the State of California. As such, El Dorado County is subject to the
Fiscal Considerations. The parties to this Agreement recognize and acknowledge that County is a political subdivision of the State of California. As such, Placer County is subject to the provisions of Article XVI, Section 18 of the California Constitution and other similar fiscal and procurement laws and regulations and may not expend funds for products, equipment or services not budgeted in a given fiscal year. It is further understood that in the normal course of County business, County will adopt a proposed budget prior to a given fiscal year, but that the final adoption of a budget does not occur until after the beginning of the fiscal year.
Fiscal Considerations. The parties to this Agreement recognize and acknowledge that both El Dorado and Admitting County are political subdivisions of the State of California. As such, both are subject to the provisions of Article XVI, § 18 of the California Constitution and other similar fiscal and procurement laws and regulations, and may not expend funds for products, equipment or services not budgeted for in a given fiscal year. It is further understood that, in the normal course of Admitting County and El Dorado’s businesses, they will adopt a proposed budget prior to a given fiscal year but that the final adoption of a budget does not occur until after the beginning of the fiscal year.
Fiscal Considerations. The proposed DDA provides for CentrePoint, LLC to finance the project with a combination of conventional financing and developer equity. CentrePoint, LLC has requested Agency involvement with gap financing for a portion of the units to be affordable and possible assistance with acquiring leasehold interests. The total project cost is approximately $110 million (see Attachment 7), and the project is projected to generate approximately $900,000 in new gross tax increment per year, after the completion of the project in 2010 (see Attachment 8). Total Redevelopment Agency financial contributions to the project will not exceed $5,245,000, plus interest for the affordable units. The Agency’s contribution will be in the form of a Developer advance/loan which will be repaid from the Crossroads Redevelopment Project Area’s Low and Moderate Income Housing Fund to subsidize 47 affordable units. This requirement will be subordinate to any future Agency bond payment obligation. The Agency will have the option to make additional payments or repay the outstanding balance in full without a prepayment penalty. The Agency will also use reasonable efforts to issue and sell bonds for the Crossroads Redevelopment Project to repay the obligation. Simple interest on the outstanding balance of the total Agency obligation will accrue at a rate of 7% per year. Interest on the loan will begin at the issuance of the certificate of occupancy for all the affordable units, expected to occur in July 2009. If the affordable units are sold for more than projected in the financial pro-forma, the Agency will receive a credit against its obligation. The Developer has agreed to provide the Agency with a Good Faith deposit of $100,000 as a security for the performance of their obligations under the DDA. · On June 21, 2005 the Redevelopment Agency approved an Exclusive Negotiating Agreement with CentrePoint, LLC to develop a mixed-use project on an 8.93 site along El Cajon Blvd. · On November 29, 2005 the Redevelopment Agency approved the Replacement Housing Plan for the CentrePoint Project. The Plan states that 2 of the existing 9 units will be replaced on- site and the remaining 7 units will be replaced at the Auburn Park project. · On December 12, 2005, the Affordable Housing Collaborative Review Team reviewed the proposal and recommended that the Affordable Housing Collaborative Executive Loan Committee approve the allocation of $5,245,000 from the Crossroads Redevelopment Project Area Low a...
