RES 01105 - Laserfiche WebLink

receive a reimbursement calculated by multiplying (i) the number of square feet of Assessable Space for which the Cooperative Fee Developer has paid Residential School Fees. by (ii) (A) the mount by which the total of the State Funds received by District for the School Facilities. less related adminis~-ative expenses allowable by law. and Residential School Fees received by District exceeds the mount as District determines will provide the School Facilities. or so much of the School Facilities as are actually needed by District, divided by (B) the number of square feet of Assessable Space within all Planned Residential Units for which building permits have been issued. Section 2.5 Fees Not Exclusive. The fees set forth in Sections 2.1 and 2.2 of this Amended Cooperative Fee Agreement are in addition to and cumulative with the further obligations set forth herein and payment of said fees does not release the Cooperative Fee Developers from any such further obligations. ARTICLE III CONSTRUCTION OF NEW ELEMENTARY SCHOOL ON VINEYARD AVENUE. Section 3.1 School Construction. The Cooperative Fee Developers will advance up to Eight Million Five-Hundred Thousand Dollars ($8,500.000) toward the design and construction oftbe elementary, school on Vineyard Avenue ("Neal Elemental.,"). The parties may agree mutually in writing to amend this Eight Million Five-Hundred Thousand ($8,500,000) amount following consultation during and immediately after completion of the design phase of the project. The Cooperative Fee Developers shall agree among themselves concerning the proportion of each Cooperative Fee Developers' respective obligations. The Cooperative Fee Developers will assume responsibility for designing, con~'acting for and funding the building of Neal Elementary, including site preparation consistent with terms to be agreed upon by the Cooperative Fee Developers and District. If the Eight Million Five-Hundred Thousand Dollar ($8.500.000) cost or other agreed-upon cost is exceeded for any reason other than changes requested by the District following the issuance of the contract for construction, the Cooperative Fee Developers will be responsible for that additional cost, without expectation of reimbursement from District for that additional cost. Section 3.1.1 Amhitect. The Cooperative Fee Developers will retain District's architect of choice to design Neal Elementary. Section 3.1.2 Standard of Desian and Construction/Separate Wrinen A~'eement. Neal Elementary will be built to District's standards, consistent with the standards of the elementary, schools already built under Exhibit "B" of this Amended Cooperative Fee Agreement. District shall not be responsible for costs resulting from design or construction that exceeds District's standards and is not requested by District. in the event that such costs exceed the Eight Million Five-Hundred Thousand Dollar ($8,500,000) or other agreed upon cost for Neat Elementary. Neat Elementary will be designed and constructed to accommodate 660 K-5 grade students. The Cooperative Fee Developers and District will mutually agree upon the design, layout and method of construction for the school, and District shall retain final authority to approve of the design and method of construction to be utilized. The final terms of such mutual agreement shall be set forth in a separate written agreement that will follow the June 1, 2001