HomeMy WebLinkAboutMEMORANDUM OF UNDERSTANDING REGARDING REIMBURSEMENTS FOR SPLOST PROJECTS AMENDMENT #1 Amendment Number 1
Memorandum of Understanding
r ,Regarding Reimbursements for SPLOST Projects
This Amendment Number 1 is made this l.f�l day of �l
Jepkryl‘oe(;2016, by
and between AUGUSTA, GEORGIA, as a political subdivision of the State of Georgia (hereinafter referred
to as"Augusta, Georgia" or"Augusta"), and DOWNTOWN DEVELOPMENT AUTHORITY OF AUGUSTA
(hereinafter referred to as DDA).
WHEREAS,the Augusta-Richmond County Commission has approved a Memorandum of Understanding
with the DDA for Reimbursements for SPLOST VI Projects and;
WHEREAS,the scope of work and schedule for these projects has been approved by the Augusta-
Richmond County Commission and;
WHEREAS, project phasing and financing is now available; and
NOW,THEREFORE, as a desire of Augusta to complete the Downtown SPLOST VI projects,the parties
hereby agree as follows:
1. Augusta shall distribute project funding as follows :
a. On or about October 1,2016-$250,000
b. On or about January 1,2017-$250,000
c. On or about April 1, 2017-$250,000
d. On or about July 1, 2017-_250,000.
2. The DDA Executive Director shall manage the funds for Planning, Design and Construction of the
project.
3. The DDA shall place the funds in a restricted account for the sole use for this project.
IN WITNESS WHEREOF, Augusta and the Downtown Development Authority have caused these
resents to•be.executed by..ttaea yrespective, duly authorized officials,on the date entered above.
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