Iron Gate Greenway Sample Clauses

Iron Gate Greenway. A. Sequencing/Schedule of Events 1. The Laws applicable to the Property through voluntary conditions offered by Columbia and accepted by the Town, require Master Developer to design and construct an extension of the Iron Gate Greenway along Walnut Creek (Greenway). 2. Master Developer shall design, construct, and install the Greenway and complete design, construction, and installation of the Greenway by no later than the last permanent or temporary certificate of completion is issued for a building shell in Phase B of The Xxxxxx District as depicted on Exhibit D-1 and as will be more particularly shown on the approved development plan for Phase B. B. Estimates of Costs of Design and Construction of the Greenway and the Greenway’s Value to the Public 1. CDG Xxxxxx and the Town have independently forecasted/estimated the costs of designing, constructing, and installing the Greenway. Based upon the information available to the Town, the Town believes that actual cost of design, construction and installation of Greenway would be no less than $1,348,326.74. 2. The amount of payments made by the Town to Master Developer for Greenway does not exceed the estimated costs of the Greenway. The Town determined that it is important to ensure that the Greenway is available to Town citizens as quickly as is practically possible and providing the Greenway promptly is consistent with The Town’s policy of encouraging, fostering, and providing public recreational facilities. The Agreement ensures proper integration of the Greenway into the Town’s capital facilities program and the value of these improvements being completed expeditiously enhances the quality of life for Town citizens. The Town avoids the costs of bidding (if necessary), contracting, installing, and managing the Greenway. C. Payments by the Town
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