RES 96036 - Laserfiche WebLink

13. The current agreements shall be revised to 13. The current agreements shall be revised to provide for a capital buy-in fee of $10,000,000. provide for a capital buy-in fee of $ I 0,000,000. The fee shall be paid according to the The fee shall be paid according to the following schedule: following schedule: A. Payment of $3,000,000 at effective date A. Payment of $3,000,000 at effective date of agreement, assumed to be July 1, 1996. of agreement, azzumeA-. ~ u~ h,h, ~ ~Cm,: B. Payment of the remaining $7,000,000 B. Payment of the remaining $7,000,000 shall commence on July 1, 2000 and continue shall commence on July 1, 2000 and continue in equal annual installments each July 1 in equal annual installments each July 1 through July 1, 2030. The annual installment through July 1, 2030. The annual installment shall be in a range from $393,919.64 to shall be in a range from $393,919.64 to $634,452.16 and is based on an interest rate $634,452.16 and_is based on an interest rote ranging from 3.0% to 6.0%. The interest rate ranging from 3.0% to 6.0%. The interest rate is applied from the effective date of the is applied from the effective date of the agreement and is intended to protect the full agreement and is intended to protect the full value of the remaining buy-in fee of value of the remaining buy-in fee of $7,000,000 from inflationary pressures. The $7,000,000 from inflationary pressures. The exact interest rate shall be an item of exact interest rate shall be an item of negotiations, and must be equal to the interest negotiations, and must be equal to the interest rate applied to payments made to City of rate applied to payments made to City of Hayward for traffic mitigation. Total capital Hayward for traffic mitigation. Total capital payments including interest shall range from payments including interest shall range from $15,211,508.84 to $22,668,017.02. $15,211,508.84 to $22,668,017.02. C. The payments required by the paragraph 13 shall be reduced proportionally in the event that a LAVWMA member agency decides not to exercise some or all of its ADWF capacity rights in the expansion project.