Common use of Possible Sources of Funding Clause in Contracts

Possible Sources of Funding. The Parties understand that the precise sources and uses of funds for the Project will be dependent upon a number of conditions and factors that will not be fully known until the completion of negotiations with the selected respondent(s). However, the Parties agree to evaluate the potential use of the following sources of funds for the Project: (i) Legally available funds and revenues of the URA from existing and future operations; (ii) The Housing Trust Fund; (iii) Low income housing tax credits through the Texas Department of Housing & Community Affairs, if eligible; (iv) Funds available through the Cultural Trust Project administered by the AEDC; and (v) Financing secured by or payable from income-generating portions of the Project, such as private debt, private equity, or revenue bonds. (vi) Other funds made available after the execution of this MOU including but not limited: private philanthropy, additional public funds, contributions from potential tenants, and others as applicable.