SERVICES TO BE RENDERED BY PROJECT SPONSOR Sample Clauses

SERVICES TO BE RENDERED BY PROJECT SPONSOR. The Project Sponsor will acquire the property and develop and construct an eighty (80) unit four- story apartment community in which ninety percent (90%) of the units shall be made available for low income and very low income residents. The Project is located at 000 X. Xxxxxx Street, Lakeland, FL 33801 in Polk County, more formally described in Exhibit "C." Project amenities include a community room, exercise room, computer room, management offices, etc. Unit amenities include central heat and air-conditioning, dishwasher, refrigerators, oven/ranges, and balconies. Additional common area amenities will include: a leasing office, laundry, etc. The development will comply with green standards and general design features required by Florida Housing Finance Corporation (“FHFC”). The Project Sponsor shall provide a variety of educational, job preparation, and recreational services at no charge to the residents. These services may include, but are not limited to on-site activities, classes, and resident assistance referral programs. At least 64 units will be leased to or held available for occupancy by households at or below 60% of Area Median Income, and at least eight (8) units being leased to or held available for occupancy by households at or below 40% of the Area Median Income. Eight (8) units will have no income or rent restrictions. Upon the effective date of this Agreement, the maximum rent allowable per unit, based on composition, is determined by the FHFC Rent Limit chart for low income housing tax credit projects, updated annually. To the extent permitted, Section 42 regulations will govern in event of any conflict. The maximum allowable rents must be reduced if the tenant pays for utilities. The utility allowance schedule prepared by the applicable local public housing authority or utility allowances prepared specific to the Project and as approved by FHFC and/or its assigned underwriter(s), upon approval by the applicable utility, should be used in the maximum rent determination. The Project Sponsor will determine each tenant's eligibility by initially confirming the tenant's annual income and will continue to comply with tenant income determinations in accordance with Section 420.9071, Florida Statutes. The total household income of any respective tenants will be determined and verified for compliance with these income limits prior to occupancy. The Project Sponsor will select and place eligible households into units on a first-come, first-serve ba...
AutoNDA by SimpleDocs
SERVICES TO BE RENDERED BY PROJECT SPONSOR. 1. Scope of Work The SHIP funds shall be provided to Project Sponsor under this Agreement to reimburse the Project Sponsor for the transportation and library impact fees associated with the construction of a seventy (70) unit affordable rental housing project in Lake County. Funds provided under this Agreement shall not be used for acquisition or construction costs. The Property upon which the Project will be constructed is located at 00000 Xxxxx Xxxx Xxxx, Xxxxxxxx, Xxxxxxx, as more specifically described in Exhibit “C”. It is anticipated that the Project address will change to 0000 Xxxx Xxxxx Boulevard (Clubhouse) and 0000 Xxxx Xxxxx Boulevard (Complex). The Project Sponsor will procure a contractor to construct on the Property a seventy (70) unit affordable rental development for elderly persons. All of the units will be one bedroom/one bath units containing a minimum of 575 sq. ft. Common amenities to be provided within the Project shall include a clubhouse, activity room, library, and fitness room. Unit amenities will include a state of the art modern kitchen, plank flooring, LED lighting, energy efficient features (i.e, low flow faucets, energy star refrigerator, dishwater, water heater and HVAC), and washer/dryer hookups. All units constructed shall be in accordance with the Florida Building Code. In addition, the Project Sponsor has committed to achieve one or more of the following Green Building certifications for the Project: Leadership in Energy and Environmental Design (LEED); Florida Green Building Coalition (FGBC); or ICC 700 National Green Building Standard (NGBS). Eligible construction costs shall include only those costs which are eligible for reimbursement under the SHIP Regulations.
SERVICES TO BE RENDERED BY PROJECT SPONSOR. The Project Sponsor will acquire the property and develop and construct a one hundred thirty two

Related to SERVICES TO BE RENDERED BY PROJECT SPONSOR

  • SERVICES TO BE RENDERED 2.1 Either party by giving the other party notice may reserve for periods of not less than one (1) or more than twelve (12) months, such electric power (hereincalled "Limited Term Power (Firm)") as the other party may be willing to make available as Limited Term Power (Firm). The party asked to supply Limited Term Power (Firm) shall be the sole judge as to the amounts and periods that it has electric power available that may be reserved by the other party as Limited Term Power (Firm).

  • Services to be performed by Contractor In consideration of the payments set forth herein and in Exhibit “B,” Contractor shall perform services for County in accordance with the terms, conditions and specifications set forth herein and in Exhibit “A.”

  • Services to be Performed Subject always to the supervision of Manager and the Trust’s Board of Trustees (the “Board”), Sub-Adviser will furnish an investment program in respect of, make investment decisions for, and place all orders for the purchase and sale of securities for the portion of each Fund’s investment portfolio allocated by Manager to Sub-Adviser. In the performance of its duties, Sub-Adviser will satisfy its fiduciary duties to the Trust, will monitor each Fund’s investments, and will comply with the provisions of the Trust’s Declaration of Trust and By-laws, each as amended from time to time (the “Trust Documents”), and the stated investment objectives, policies and restrictions of each Fund. Manager will provide Sub-Adviser with current copies of the Trust Documents, each Fund’s prospectus and Statement of Additional Information and any amendments thereto, and any objectives, policies or restrictions not appearing therein as they may be relevant to Sub-Adviser’s performance under this Agreement. Sub-Adviser and Manager will each make its officers and employees available to the other from time to time at reasonable times to review investment policies of each Fund and to consult with each other regarding the investment affairs of each Fund. Sub-Adviser will report to Manager and the Board with respect to the implementation of its investment program for each Fund. Sub-Adviser is authorized to select the brokers or dealers that will execute the purchases and sales of portfolio securities for each Fund, and is directed to use its best efforts to obtain best execution, which includes most favorable net results and execution of each Fund’s orders, taking into account all appropriate factors, including price, dealer spread or commission, size and difficulty of the transaction and research or other services provided. It is understood that Sub-Adviser will not be deemed to have acted unlawfully, or to have breached a fiduciary duty to the Trust or the Funds, or be in breach of any obligation owing to the Trust or the Funds under this Agreement, or otherwise, solely by reason of its having caused a Fund to pay a member of a securities exchange, a broker or a dealer a commission for effecting a securities transaction for a Fund in excess of the amount of commission another member of an exchange, broker or dealer would have charged if Sub-Adviser determined in good faith that the commission paid was reasonable in relation to the brokerage or research services provided by such member, broker or dealer, viewed in terms of that particular transaction or Sub-Adviser’s overall responsibilities with respect to its accounts, including the Funds, as to which it exercises investment discretion. In addition, if in the judgment of Sub-Adviser, a Fund would be benefited by supplemental services, Sub-Adviser is authorized to pay spreads or commissions to brokers or dealers furnishing such services in excess of spreads or commissions which another broker or dealer may charge for the same transaction, provided that Sub-Adviser determines in good faith that the commission or spread paid is reasonable in relation to the services provided. Sub-Adviser will properly communicate to the officers and trustees of the Trust such information relating to transactions for each Fund as they may reasonably request. In no instance will portfolio securities be purchased from or sold to Manager, Sub-Adviser or any affiliated person of the Trust, Manager or Sub-Adviser, except as may be permitted under the 1940 Act, and under no circumstances will Sub-Adviser select brokers or dealers for Fund transactions on the basis of Fund share sales by such brokers or dealers. Sub-Adviser further agrees that it:

  • Services Rendered/Scope of Work The Contractor shall, in a satisfactory and proper manner as determined by the Authority, render the services described in Exhibit A, which is attached and made a part of this Agreement.

  • Service to be Rendered Transporter shall perform and Shipper shall receive service in accordance with the provisions of the effective FTS Rate Schedule and applicable General Terms and Conditions of Transporter's FERC Gas Tariff, Fourth Revised Volume No. 1 ("Tariff"), on file with the Federal Energy Regulatory Commission ("Commission"), as the same may be amended or superseded in accordance with the rules and regulations of the Commission. The maximum obligation of Transporter to deliver gas hereunder to or for Shipper, the designation of the points of delivery at which Transporter shall deliver or cause gas to be delivered to or for Shipper, and the points of receipt at which Shipper shall deliver or cause gas to be delivered, are specified in Appendix A, as the same may be amended from time to time by agreement between Shipper and Transporter, or in accordance with the rules and regulations of the Commission.

  • SERVICES TO BE PROVIDED 2.1 The services which we may provide to you are general investment and dealing services in financial and commodity options, futures and contracts for differences traded on an Exchange, together with related research, advice, clearing and settlement facilities and any other services agreed between us.

  • CONSTRUCTION AND RELATED ENGINEERING SERVICES A. General construction work for buildings (CPC 512) 1) Unbound* 2) None 3) None 1) Unbound* 2) None 3) None

  • STATEMENT OF SERVICES TO BE PERFORMED A. Vendor shall provide Worker(s) to DIR Customers to perform services that are defined in the Work Order Solicitation, in accordance with the terms and conditions of the Contract. Workers provided by Vendor shall possess qualifications that meet or exceed those specified in the Work Order Solicitation and will perform the functions as outlined in the Work Order Solicitation at the rates quoted therein. All travel is subject to the prior, written approval of the Customer.

  • STATEMENT OF SERVICES TO BE PROVIDED The Parties agree to cooperate to provide necessary and authorized services and resources in accordance with the terms of this Contract. Specific services provided are described in Attachment A – Statement of Work.

  • Payment for Project Services As full consideration for the Services to be performed by Contractor, City agrees to pay Contractor as set forth in accordance with the bid and not to exceed fee of $696,243.00 for the project. A monthly progress payment in the amount of ninety-five percent (95%) of the value of the work completed may be made every thirty (30) days upon application by the Contractor and certification by the Project Manager that such work has been completed. Partial payments will be made once each month as the work satisfactorily progresses and after acceptance by the authorized City representative. The progress estimates shall be based upon materials in place, or on the job site and invoiced, and labor expended thereon. From the total of the amount ascertained will be deducted an amount equivalent to five percent (5%) of the whole, which five percent (5%) will be retained by the City until after completion of the entire Contract in an acceptable manner. Any time after fifty percent (50%) of the value of the work has been completed, the City will make any of the remaining partial payments in full. No such estimates or payments shall be required to be made, when, in the judgment of the City Project Manager, the work is not proceeding in accordance with the provision of the Contract, or when in his judgment the total value of the work done since last estimate amounts to less than Five Hundred Dollars ($500.00). The cost of materials conforming to the plans and specifications (materials being those which are required to be contained and incorporated in a finished contract bid item) delivered to the project and not at the time incorporated in the work, may also be included in the estimate for payment. No such estimate or payment shall be construed to be an acceptance of any defective work or improper material. The Contractor shall be responsible for, and shall not remove from the project any material that has been included in the estimate for payment. Final payment shall be made upon the Project Manager certifying that the Contractor has satisfactorily completed the work in conformity with the Contract Documents.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!