Funding Amount. “Funding Amount” means an amount not to exceed Fifty Thousand Dollars ($50,000.00) of tax increment finance revenues to be used for paying the costs associated with the construction, equipping, inspection, and delivery of the Local Public Improvements.
Funding Amount. The maximum amount payable by the State under this Agreement shall not exceed $885,669.
Funding Amount. The Funding Amount shall be the amount, net of any Incentives/Rebates, that is the lesser of:
(1) the Approved Final Cost;
(2) the Estimated Cost plus Five (5) per cent of the Estimated Cost; and
(3) the highest dollar amount that does not cause the Special Charge (Actual) to exceed the lesser of either 10 percent of Current Value Assessment for the property or $2,000,000, when the City calculates the Special Charge (Actual) as set forth in Section 11(1) of this POA.
Funding Amount. The County, subject to the terms and conditions of this Agreement, hereby agrees to provide ARPA Funds in amount of up to $200,000.00 to Xxxxx to complete stormwater drainage improvements.
Funding Amount. As soon as reasonably practicable and in any event no later than forty Business Days immediately following the date of this Agreement, the Independent Body shall transfer [●] (the “Funding Amount”) to the Account.9
Funding Amount. OCII agrees to lend to Borrower a maximum principal amount equal to the Funding Amount in order to finance predevelopment costs associated with the Project. The Funding Amount will be disbursed according to the terms and subject to the conditions set forth in this Agreement.
Funding Amount. In accordance with Section 9 of the POA, the Funding Amount is [AMOUNT] which is the lesser of:
(i) The Approved Final Cost which is [AMOUNT];
(ii) The Estimated Cost plus five percent of the Estimated Cost which is [AMOUNT]; and
(iii) the highest dollar amount that does not cause the Special Charge (Actual) to exceed the lesser of 10 percent of Current Value Assessment for the property up to a maximum of $2,000,000 when the City calculates the Special Charge (Actual) which is [AMOUNT].
(iv) minus the Actual Incentive / Rebate which is [AMOUNT]
Funding Amount a. Subject to the requirements of this Agreement, County will fund the Subrecipient for the full performance of this Agreement and the actual conduct of the Project(s) specified herein undertaken by Subrecipient. This is a fixed ceiling amount and shall not be considered as an “estimate-of-cost,” “percentage-of-cost” or any kind of “cost-plus” sum, price, or amount. In addition, as used in this Agreement, unless the context indicates otherwise, the words “expend,” “expended” and “expenditure” shall include all amounts obligated or committed by Subrecipient by written agreement (including unilateral purchase orders) for expenditure on the Project(s).
b. Subrecipient must make a concerted, good-faith effort to expend the total subgrant within the Period of Performance. Subrecipient costs and expenditures, however, shall not exceed the total funding amount. County shall not be liable for or reimburse Subrecipient for any extra costs or overruns on the Project(s) or any additional funding in excess of the total amount stated in this Agreement without prior written amendment.
c. In the event the full funding amount to be paid or reimbursed hereunder by County is not expended by Subrecipient for project costs as specified in Attachment C by the end of the contract expiration date, as that period may have been extended or otherwise changed, Subrecipient shall refund, release or transfer any unexpended amount back to County within thirty (30) days. Any project funds held by County at the end of the Period of Performance or refunded, released or transferred to County shall be reallocated by County. Subrecipient shall be eligible to apply for these funds but shall have no greater priority than any other applicant.
d. In the event that congressional action, HUD rules and regulations, or other lawful directive modifies or reduces the funds and/or services obligated under this Agreement, Subrecipient shall, upon notice from County, immediately modify or reduce the scope of work or cease expenditures hereunder as directed by Congress, HUD, County or other lawful directive.
e. Subrecipient further agrees to utilize funds available under this Agreement to supplement rather than supplant funds otherwise available.
Funding Amount. A. Subject to the requirements of this agreement the City will fund to the Subrecipient for the full performance of this agreement and the actual conduct of the Project(s) specified herein a total sub-grant amount of Two Hundred Seventy Nine Thousand Five Hundred and Fifty Four dollars for all Projects undertaken by the Subrecipient. The above stated fixed ceiling amount may be considered as a “not-to-exceed” amount but shall not be considered as an “estimate-of-cost”, “percentage-of-cost” or any kind of “cost- plus” sum, price or amount. Also, as used in this agreement, unless the context indicates otherwise, the words “expend”, “expended” and “expenditure” shall include all amounts obligated or committed by the Subrecipient by written agreement (including unilateral purchase orders) for expenditure on the Project(s).
B. The Subrecipient must make a concerted, good-faith effort to expend the total funding amount specified above within the Period of Performance stated in Paragraph 6. The Subrecipient’s costs and expenditures, however, shall not exceed the total funding amount. The City shall not be liable for or reimburse the Subrecipient for any extra costs or overruns on the Project(s), or any additional funding in excess of the total amount stated above, without a prior written amendment of this agreement in accordance with Paragraph 10 below.
C. In the event the full funding amount to be paid or reimbursed hereunder by the City is not expended by the Subrecipient for project costs as specified in Attachment II by the end of the Period of Performance hereof, as that period may have been extended or otherwise changed, the Subrecipient shall refund, release or transfer any unexpended amount back to the City within 30 days after the end of the Period of Performance. Any project funds held by the City at the end of the Period of Performance or refunded,
D. In the event congressional action, HUD rules and regulations, or other lawful directive involves modifying or reducing the funds and/or services obligated under this agreement, the Subrecipient shall, upon notice from the City, immediately modify, reduce the scope of, or cease expenditures as directed.
E. The Subrecipient further agrees to utilize funds available under this agreement to supplement rather than supplant funds otherwise available.
Funding Amount. Not applicable.
