Replacement Reserves. Borrower must make a contribution of not less than $250 per unit to the replacement reserve account each year to ensure that sufficient funds will be available for projected capital improvements anticipated over the next 20 years, as specified in Attachment C. Community Development staff will monitor this project each year to ensure that developer is making at least the minimum contribution to the replacement reserve account.
Appears in 6 contracts
Samples: Forgivable Loan Agreement, Forgivable Loan Agreement, Forgivable Loan Agreement
Replacement Reserves. Borrower must make a contribution of not less than $250 per unit to the replacement reserve account each year to ensure that sufficient funds will be available for projected capital improvements anticipated over the next 20 years, as specified in Attachment C. Community Development staff will monitor this th project each year to ensure that developer is making at least the minimum contribution to the replacement reserve account.
Appears in 3 contracts
Samples: Forgivable Loan Agreement, Forgivable Loan Agreement, Forgivable Loan Agreement
Replacement Reserves. Borrower must make a contribution of not less than $250 per unit to the replacement reserve account each year to ensure that sufficient funds will be available for projected capital improvements anticipated over the next 20 years, as specified in Attachment C. Community Development staff will monitor this project each year to ensure that developer is making at least the minimum contribution to the replacement reserve account.that
Appears in 2 contracts
Samples: Forgivable Loan Agreement, Forgivable Loan Agreement
