The City Conference Center Unit Sample Clauses

The City Conference Center Unit. (a) The City will agree to purchase the City Conference Center Unit from the Developer for a purchase price equal to the lesser of $6,525,000 (based on the Parties’ estimate that the City Conference Center Unit will contain 29,000 square feet at a cost of $225 per square foot) or the actual cost of constructing the City Conference Center Unit, subject to the City’s ability to issue the TIF Bonds to fund the purchase price and other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement. The Parties currently project that the taxable value of the completed Project will equal approximately $660,000. If costs of construction of the City Conference Center Unit are greater than $6,525,000, and if the actual taxable value of the completed Project is greater than $660,000 in the tax year in which the City will acquire the City Conference Center Unit or is projected to be greater than $660,000 in the tax year following the tax year in which the City will acquire the City Conference Center Unit (in each case, based on information from the Montana Department of Revenue), the City reserves the right, pursuant to a subsequent amending and/or restated bond resolution that would need to be approved by the City Council, to increase the purchase price of the City Conference Center Unit in an amount that can be financed by the increase in tax increment bonding capacity attributable to such increased taxable value of the Project; provided that the purchase price shall not exceed the cost of construction of the City Conference Center Unit. The Developer acknowledges and agrees that no money or credit of the City is available to fund the purchase price of the City Conference Center Unit other than proceeds available from the TIF Bonds and if the City is not able to issue such TIF Bonds in the aggregate amount of such purchase price, the City will be unable to pay such purchase price. (b) The Developer will submit to the MRA design documents relating to the City Conference Center Unit prepared by the Developer’s architect at the time design is 30% complete. The design of the City Conference Center Unit must be approved by the MRA on behalf of the City at the time the design is 30% complete. Any material deviation from the 30% design documents relating to the City Conference Center Unit must be initiated or approved by the MRA.
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The City Conference Center Unit. The City will agree to purchase the City Conference Center Unit from the Developer following substantial completion of the Project for a purchase price equal to the lesser of $6,525,000 ($225/square foot) or the actual cost of constructing the City Conference Center Unit, subject to the City’s ability to issue the TIF Bonds to fund the purchase price and other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement. The Developer acknowledges and agrees that no money or credit of the City is available to fund the purchase price of the City Conference Center Unit other than proceeds available from the TIF Bonds and if the City is not able to issue such TIF Bonds in the aggregate amount of such purchase price, the City will be unable to pay such purchase price. The TIF Bonds allocated to the purchase price of the City Conference Center Unit are expected to be issued on a taxable basis. • The Parking Facility. o The City will agree to purchase the Parking Facility from the Developer following substantial completion of the Project for a purchase price equal to the lesser of $8,800,000 or the actual cost of constructing the Parking Facility, subject to the City’s ability to issue the TIF Bonds and the Parking Facility Revenue Bonds to fund the purchase price and other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement. The Developer acknowledges and agrees that no money or credit of the City is available to fund the purchase price of the Parking Facility other than proceeds available from the TIF Bonds and the Parking Facility Revenue Bonds and if the City is not able to issue such TIF Bonds and Parking Facility Revenue Bonds in the amount of such purchase price, the City will be unable to pay such purchase price. All or a portion of the TIF Bonds allocated to the Parking Facility and/or the Parking Facility Revenue Bonds may be issued on a taxable basis. o The purchase price of $8,800,000 is based on the Parties’ estimate that the Parking Facility will include 400 spaces and will cost approximately $22,000 per space to construct. In the event that the Developer demonstrates to the City’s satisfaction that actual construction costs per space are materially higher, the number of spaces to be constructed in the Parking Facility and/or the purchase price may be adjusted (provided that the purchase price is not to exceed $8,800,000), and/or the Developers may build 400 spaces...
Sample 1
The City Conference Center Unit. The City will agree to purchase the City Conference Center Unit from the Developer following substantial completion of each of the City Conference Center Unit and the Parking Facility, as evidenced by a temporary certificate of occupancy with respect to each unit. The parties are targeting a purchase price of approximately $16,500,000, which is the current cost estimate based on the current conceptual design and which includes the estimated cost of the items of personal property and equipment (i.e., furniture, fixtures and equipment, or “FF&E”) necessary to operate the City Conference Center Unit. The final purchase price will be set by the parties at or prior to the Developer’s construction financing closing (the “Construction Financing Closing”). In concept, the purchase price would be equal to the lesser of approximately $16,500,000 or the actual cost of constructing the City Conference Center Unit. Payment of the purchase price and acquisition of the City Conference Center Unit will be subject to the City’s ability to issue the Conference Center Bonds, which will be tax increment bonds, to fund the purchase price and to other terms and conditions set forth in the Conference Center and Parking Facility Development Agreement.
Sample 1

Related to The City Conference Center Unit

  • Church Conference Vote At least two-thirds (2/3) of the professing members present at a church conference of the Local Church must vote to disaffiliate from The United Methodist Church “for reasons of conscience regarding a change in the requirements and provisions of the Book of Discipline related to the practice of homosexuality or the ordination or marriage of self-avowed practicing homosexuals as resolved and adopted by the 2019 General Conference, or the actions or inactions of its annual conference related to these issues which follow.” Local Church shall provide documentation, to the satisfaction of Annual Conference, which evidences the result of the disaffiliation vote taken at the church conference. Such documentation must be certified by an authorized officer of Local Church and shall be included as an Exhibit A to this Disaffiliation Agreement.

  • Pre-Construction Conference Participate in a Pre-Construction Conference prior to commencement of Work at the Site.

  • Preconstruction Conference Prior to, or concurrent with, the issuance of the Notice to Proceed with Construction, a conference will be convened for attendance by the Owner, Contractor, A/E and appropriate Subcontractors. The purpose of the conference is to establish a working understanding among the parties as to the Work, the operational conditions at the Project Site, and general administration of the Project. Topics include communications, schedules, procedures for handling Shop Drawings and other submittals, processing Applications for Payment, maintaining required records and all other matters of importance to the administration of the Project and effective communications between the project team members.

  • Quarterly Conference Calls The purpose of this contact will be to obtain a greater understanding of the performance of the Portfolio, the reasons for that performance, and to gain valuable insights into the Portfolio provided by the manager.

  • PRE-JOB CONFERENCE a) The Employer shall notify the union that a project has been awarded to the Employer following the award. Prior to the start of each project, a pre-job conference shall be held to determine all site-specific issues as outlined in the Agreement. This conference may be conducted via telephone, through a scheduled meeting or by some other practical means as agreed to by the parties. b) A copy of the pre-job conference report shall be provided to the Employer, the Union and the Job Xxxxxxx (s). A copy shall also be posted on the bulletin board(s) at the jobsite.

  • Annual Conference Vote This Disaffiliation Agreement must be “ratified by a simple majority of the members . . . present and voting” at a duly-called session of The Western North Carolina Annual Conference of The United Methodist Church, as required by Judicial Council Decision 1379 and ¶ 2529.1b(3)

  • Post-Observation Conference 1. The post- observation conference between the evaluator and teacher will be held no later than ten (10) days after the formal observation. 2. The purpose of the post-observation conference is to review the evaluator’s and teacher’s evidence related to the scoring criteria during the observation, and to discuss the teacher’s performance. 3. If there is an area of concern, the evaluator will identify specific concerns for the applicable criteria and provide possible solutions to remedy the concern in writing.

  • Conference requirement and procedure (i) The Employer, or the Employer’s representative, shall, when requested by the Employees or their Employee Representative/ Union Delegate, confer (within a reasonable period of time which should not exceed 1/2 hour) for the purpose of determining whether or not conditions are inclement. (ii) Provided that if the Employer or the Employers’ representative refuses to confer within such reasonable period, Employees shall be entitled to cease work for the rest of the day and be paid inclement weather.

  • Evaluation Conference The final evaluation conference shall occur not later than the end of the fall term. The purpose of the final evaluation conference is to discuss with the probationary employee the results of the evaluation and announce the team’s recommendation. The evaluation team shall determine what additional evaluation activity shall occur during the spring term. If the team recommends that the District not employ the professor for the following year, no evaluation activities in the spring are necessary.

  • PRE-BID CONFERENCE Non-Mandatory Pre-Bid Conference will be held on Monday, May 23, 2022, @ 2:00 PM, located at W220 Pre-con Conference Room, 0000 Xxxxxxxxxxxxx Xxxxx (Xxxx Xxxxxxxxx) Xxxxxxx, XX 00000. Attendance is not mandatory but is encouraged.

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