Mitigation Funds definition
Examples of Mitigation Funds in a sentence
To the extent that the Community receives funding for traffic/transportation mitigation from one of the State Mitigation Funds after MGM has paid any Adverse Impact Amount beyond the Annual Payment, and the basis for said mitigation funding is identical to the identified impact(s) in the 1st or 5th Year Study Reports, MGM shall be entitled to a credit toward any future Adverse Impact Amount payment obligations in excess of its Annual Payment obligation.
The Parties further acknowledge that if the Adverse Impact Amount from a Study Report is determined to be less than the Annual Payment plus any funding the Community has received from the State Mitigation Funds, MGM shall have no further monetary obligations to the Community beyond the Annual Payments during the period up to the completion of the next Study Report and determination of an Adverse Impact Amount from that next Study Report.
Phase 5: Mitigation Recommendations and Pursuit of Additional Mitigation Funds.
The purpose of the Compensatory Mitigation Funds is to compensate claims by Massachusetts fishing businesses for impacts resulting in economic losses during each phase of development (construction, operations, decommission) of the Development (Phase 1 and Phase 2).
The Project Sponsor shall not be entitled to a refund of any Project Sponsor’s Proportionate Share payment, any Grant Fund sources or any Other Development Traffic Mitigation Funds.
The MDOT MPA shall not be responsible under this MOU for the administration of any Trust grant award or contracts arising from such grants, nor shall MDOT MPA be responsible for the design, construction, implementation, oversight, inspection, maintenance, or the successful completion of any water quality and habitat protection projects selected by the Trust and funded by MPA Mitigation Funds under this MOU.
The 21 total estimated amount of Air Quality Mitigation Funds necessary for each ▇▇▇▇ are 22 based on (a) the total tonnage of Criteria Pollutants estimated to be emitted during the 23 HST construction covered by each ▇▇▇▇, as estimated within a Certified 24 Environmental Document or some subsequent estimate based on more then-up-to- 25 date construction information and (b) District’s cost per ton per the then-applicable rate 26 contained in District Rule 9510 as set forth in each ▇▇▇▇.
MDOT MPA will review these annual reports to ensure that the Trust is awarding MPA Mitigation Funds in a timely manner and consistent with the purposes of this MOU.
If MDOT MPA elects to provide MPA Mitigation Funds to the Trust pursuant to this MOU, MPA Mitigation Funds will be transferred to the Trust prior to the start of construction of the MDOT MPA development and redevelopment projects with impacts in the Critical Area.
If MDOT MPA determines that the Trust’s awarding of MPA Mitigation Funds is inconsistent with this MOU, it shall notify the Parties in writing within 30 days and request a meeting to resolve the conflict.