Funding of Project. An appraisal report was completed on September 25, 2020, providing a market value, in fee simple, of $20,100,000.00 for the 115 acres of real property. Approximately 60 acres, appraised at $15,500,000.00, was donated to the City with a closing date of December 30, 2020. The 55-acre subject property, with an appraised value of $4,600,000.00, was purchased by the City at a negotiated price of $3,865,367.00 including closing costs and closed on November 5, 2021. The total project cost of the Subject Property the City acquired under terms of this Agreement is $3,865,367.00. The City requests that the County contribute, in the form of reimbursement, $1,250,000. County agrees to pay $1,250,000 on the terms and conditions set forth herein.
Funding of Project. City estimates the total cost of the property to be acquired under terms of this agreement is $154,000. City requests that County pay $139,000, or 90 percent of the total estimated project cost. County recognizes, however, that this estimate, while made in good faith, may or may not represent fair market value as determined by standard professional appraisal procedures. County agrees to pay $139,000 or 90 percent of the total estimated project cost, or the same percentage amount of fair market value, whichever is less.
Funding of Project. (a) Tipperary and Milmac acknowledge, concerning the $1,275,000 "turnkey" price, for which they are obligated in the FCF Agreement, that $127,500 of this has not been paid. Anbay, FOG, ORC, GGPC and Tipperary (on behalf of HRC) have advanced said $127,500 of construction costs, with Tipperary paying 40% of this amount on behalf of HRC and each of Anbay (or FOG as Anbay's predecessor), ORC and GGPC paying 20% of this amount. Tipperary and Milmac, in proportion to their relative obligations (90% for Tipperary and 10% for Milmac) hereby agree to pay directly to each of Anbay, ORC and GGPC their respective 20% shares ($25,500 each) of the $127,500 upon the execution of this Agreement, subject, however, to Section 3 below. With respect to the amounts advanced by Tipperary on behalf of HRC, as to which Milmac is obligated to contribute, Milmac acknowledges that the amount of $5,100 is due and payable, and Milmac agrees to pay said $5,100 directly to Tipperary within 10 days after the execution of this Agreement.
Funding of Project. The City agrees to pay $500,000 in financial contributions toward the construction of an artificial turf sports field at Xxx Case Elementary. The District is responsible for all other costs related to the planning, design, construction, and future maintenance of the location.
Funding of Project. In order to fund the capital outlay projects in Exhibits “A” through “D”, the County shall, subject to referendum approval and the other requirements of O.C.G.A. § 48-8-110, et seq., impose a one cent ($.01) Special Purpose Local Option Sales Tax for a period of no more than six (6) years for the projects. The County hereby undertakes to adopt a resolution on the earliest practical date following the execution and delivery of this Agreement by the parties hereto calling for a referendum election to be held throughout the County on March 21, 2022, authorizing the imposition of the Special Purpose Local Option Sales Tax.
Funding of Project
