Resolution 2021-43 - Laserfiche WebLink

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b. The City shall use reasonable efforts to ensure the Plan Area Project is designed to include signage, public art, and other amenities to make the improvements aesthetically inviting and functional for all users. C. After design is finalized for the Plan Area Project, there shall be provided to the LRC for its review and approval any design change or construction change order that is estimated to result in an increase or decrease in (i) Plan Area Project costs by more than ten (10) percent of the LRC's total Pledged Revenue payments or (ii) the costs of any one intersection within the Plan Area by more than $750,000. After construction commencement, the City shall provide the LRC with a report, at least annually, of construction progress and cost incurred. 4. City's Use of Pledged Revenue Payments. a. Should the City decide to construct the Limited Plan Area Project, the Pledged Revenue shall be used and expended exclusively on the construction of the Underpass at Main/SBR. b. Should the City decide to construct the Full Plan Area Project, the Pledged Revenue shall be allocated and used as follows: $7,750,000 for the construction of the Underpass at Main/SBR; ii. $6,000,000 for the construction of the Underpass at HW42/South; and iii. $5,000,000 for the construction of either underpass or both. 5. Continuing Cooperation, Additional Agreements. The Parties shall cooperate to carry out and complete Plan Area Project. It is contemplated that additional agreements may be required to plan and carry out the Project in accordance with the provisions of the Plan and the Act. The Parties agree to cooperate and give timely consideration to any additional agreements or amendments to this Cooperation Agreement that may be necessary or convenient in connection with such activities and undertakings; provided, however, nothing in this Cooperation Agreement shall preclude or require the commitment of additional revenue, financing, or services by either Party beyond those provided for herein in connection with such activities and undertakings. b. Obligations Subject to Act. Charter. and Constitution. The covenants, duties and actions required of the Parties under this Cooperation Agreement shall be subject to and performed in accordance with the provisions and procedures required and permitted by the Charter, the Act, any other applicable provision of law, and the Colorado Constitution. Without limiting the foregoing, any and all financial obligations of the City hereunder are subject to annual budgeting and appropriation of funds in the discretion of the City Council, and nothing in this Cooperation Agreement is intended or shall be deemed or construed as creating any multiple fiscal -year direct or indirect debt or financial obligation of the City. F.