Examples of Participating Developers in a sentence
Within ninety (90) days of City’s approval of this Agreement, City shall establish a financing plan reimbursement fee, as set forth in Chapter 5 of Volume 1 of the Infrastructure Financing Plan, for purposes of reimbursing the Participating Developers who advance-funded the costs to prepare the Infrastructure Financing Plan (“Financing Plan Reimbursement Fee”).
City hereby agrees to collect the Financing Plan Reimbursement Fee prior to accepting any small lot final map for property owned by a Non-Participating Landowner, and to distribute said proceeds to the Participating Developers based on their pro-rata share, on a per-acre basis, within thirty (30) days of receipt thereof.
City hereby agrees to collect the Financing Plan Reimbursement Fee prior to accepting any small lot final map for property owned by a Non-Participating Landowner, and to distribute said proceeds to the Participating Developers based on their pro-rata share, on a per-acre basis, within thirty(30) days of receipt thereof.
This Agreement is made and entered into for the sole protection and benefit of Developer, Participating Developers and County and their successors and assigns.
Developer acknowledges, for the benefit of all Participating Developers, that notwithstanding the inclusion of the Property in an Infrastructure CFD, unless Developer elects to include undeveloped portions of the Property into the Infrastructure CFD, only developed portions of the Property, defined as those portions for which a Development Entitlement (as defined in Section 3.2 above) has been approved, shall be subject to the levy of special tax by an Infrastructure CFD.
With respect to any credits granted to the Development Group as a Constructing Owner, the County will credit the Development Group in one lump sum and the Development Group shall have the right to allocate such credits between the Participating Developers, which allocations shall be the sole responsibility of the Development Group.
Any such credits or reimbursements related to the construction of improvements shall be dependent upon Developer (together with any other advancing Participating Developers and/or the Development Group) entering into a fee credit and reimbursement agreement with the County to document its credit and reimbursement rights consistent with the applicable Fee programs.
In view of the significant costs incurred to date and that will be required to be advanced by Developer to accomplish the goals and objectives of the Specific Plan as set forth in this Agreement, a Development Group consisting of Developer and the other Participating Developers has been formed and will fund the planning costs and may construct or coordinate and administer certain financing programs related to the construction of the improvements and the public facilities.
The sale and transfer of any affordable housing credits shall be made pursuant to private transactions between Developer and other Participating Developers and County shall have no obligation to facilitate such transfers, except to acknowledge that such affordable housing credits are available to Developer.
To assure these services will be provided to the Project on a timely basis, if Developer so requests, County shall enter into a separate agreement in a form acceptable to County that will establish the time periods for timely review, approval and inspections by County and the commitment of the Participating Developers to pay all costs incurred by County to provide such timely review, approval and inspections.