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(1) The total restoration area for the Smith Island Project is <br /> approximately 381.59 acres. <br /> (2) The City share of restoration area in the Smith Island project is <br /> approximately 49.43 acres. <br /> (3) The County share of restoration area in the Smith Island project is <br /> approximately 332.17 acres. <br /> (4) The City Proportionate share is therefore 49.43 divided by 381.59 <br /> = 13.0 percent(13.0%). <br /> (5) The County Proportionate share is therefore 332.17 divided by <br /> 381.59 = 87.0 percent (87.0%). <br /> 1.4 Method of Payment for General Shared Costs. <br /> 1.4.1 The City shall pay the City Proportionate share of SEPA and Studies to <br /> Support SEPA Costs as described in Section 1.1.1 to the County upon <br /> execution of this Agreement. <br /> 1.4.2 The County shall initiate work on the items in Sections 1.1.2 through <br /> 1.1.5, inclusive, and incur associated costs. <br /> 1.4.3 The City will reimburse the County for its proportionate share percentages <br /> of the total General Shared Costs incurred by the County for the items in <br /> Sections 1.1.2 through 1.1.5, inclusive, on a time and expense basis. <br /> 1.4.4 Throughout the term of this Agreement, the City and County may develop <br /> further details of the shared cost items listed in Exhibit B to facilitate <br /> computation of cost shares. <br /> 1.4.5 Billing: <br /> Upon the execution of this Agreement,the County may elect to bill the <br /> City for the City's Proportionate share of General Shared Costs on a <br /> quarterly basis during the pre-construction period. After construction <br /> begins, the County may elect to bill the City on a monthly basis. For each <br /> billing, the County shall provide to the City an itemized statement of all <br /> General Shared Costs incurred or otherwise billed to the County for the <br /> preceding period for which reimbursement is sought by the County <br /> hereunder(including attaching copies of all billing statements or invoices <br /> received by the County). The City shall remit payment to the County for <br /> its Proportionate share of the General.Shared Costs as set forth in the <br /> itemized statement within Thirty(30) calendar days from the date of <br /> receipt of the statement from the County unless on or before such date the <br /> City shall submit in writing to the County an objection to any charge or <br /> cost shown thereon and/or request for additional supporting information <br /> establishing such charge or cost as a qualifying General Shared Cost. The <br /> City has no obligation to pay invoices unless the City has received the <br /> approvals under Section 2.11 of the Agreement. If the parties are unable <br /> to reconcile or otherwise resolve any such objection or request for <br /> additional information to the mutual satisfaction of the parties within <br /> INTERGOVERNMENTAL AGREEMENT FOR <br /> IMPLEMENTATION OF THE SMITH ISLAND RESTORATION PROJECT PAGE 25 <br />