Payments to the Developer for Infrastructure Participation Sample Clauses

Payments to the Developer for Infrastructure Participation. Upon acceptance of the Infrastructure by the City, the Developer may submit a reimbursement request to the City for the Project Fund along with a statement of Developer’s costs for the Infrastructure design and construction. Within five (5) business days following the City’s receipt of Developer’s reimbursement request, the City shall verify the statement of Developer’s costs. Upon successful review and verification by the City, the City shall pay Developer an amount up to nine hundred thousand dollars ($900,000.00), which shall consist of four hundred seventy-five thousand dollars ($475,000.00) for the design and construction of any roadway improvements and related drainage improvements for Trailhouse Road and four hundred twenty-five thousand dollars ($425,000.00) for the design and construction of sanitary sewer improvements for the Project. Payment shall be made within thirty (30) days following the receipt of such reimbursement request and shall be payable to Developer. Notwithstanding the payments described above and excluding any sale and use tax reimbursements, the City shall not be obligated for any amounts in excess of the Project Fund.
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