Phase 5. Completed a maximum of thirty-six months of continuous service, passed written and oral examinations, qualified in water treatment, qualified as an Assistant Operator in the Utilities Department, has demonstrated job knowledge of Satellite Steam Plant, and has obtained 3rd Class Operating Engineer’s certificate.
Phase 5. Full-scale production Full-scale production is specifically understood as part of the project. In this phase, the products are manufactured, packed and shipped in the right quantities, at the right time and to specification.
Phase 5. Concurrent with the development of Phase 5 Developer shall construct the frontage improvements along the portion of Canyon Creek Parkway that is adjacent to Phase 5. The frontage improvements shall include curb, gutter, paved asphalt trail, landscaped park strip, and asphalt widening along the west side of the roadway.
Phase 5. The scope of Phase 5 will include a minimum of 450,000 square feet of non-retail development; a maximum of 325,000 square feet of retail development; and a minimum of 230,000 square feet of vertically integrated development. The commencement date for Phase 5 is five (5) years after the completion date of Phase 4. The completion date for Phase 5 is five (5) years after the commencement date for Phase 5. The completion date for the Development of The Xxxxxx District is twenty-five (25) years after Columbia purchases the Property from the State and becomes the fee simple owner of the Property. However, nothing herein prohibits CDG Xxxxxx and/or Master Developer from (i) commencing Development of any phase or portion of a phase; or (ii) completing development of any phase or portion of a phase at a pace faster than the Development Schedule, but the order of the phasing (1-5) shall be maintained unless this Agreement is subsequently amended. To that end, an essential element of the Required Periodic Review set forth in Article 5 of this Agreement, is Master Developer submitting an updated projection of commencement and completion dates for each phase to the Town Manager on or before December 1 of each year of the Term of this Agreement. Note: N.C.G.S. § 160A-400.25(b) states and the Principal Parties agree that the failure to meet a commencement or completion date shall not, in and of itself, constitute a material breach of a development agreement. EXHIBIT D Public Facilities Background: One of the core reasons for forming development agreements is to require careful integration between public capital facilities planning, financing, and construction schedules and phasing of private development. A development agreement should structure and manage development approvals to ensure proper integration of private development approvals into the local capital facilities program. To these ends, a development agreement provides flexibility in negotiating these matters. Two (2) of the eight (8) mandatory minimum provisions of a development agreement are:
Phase 5. The Phase Effective Date for Phase 4 shall be August 1, 2028. Unless modified pursuant to Section 1.2.5.4, the total revenue requirement shall be no more than $1,620,839, and the Scheduled Revenue Increase shall be no more than $180,240, which is a 12.51 percent increase over Phase 4 rates.
