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elementary school student stations at the new K-8 (Northeast Miami-Dade Area) —Phase <br /> I Educational Facility (the "School Project"). It is the intent of the School District to <br /> locate the School Project within the City proper. To that end, the City and the Board <br /> shall collaborate on options that optimize available revenues, including but not limited to <br /> opportunities for colocation of student stations within community spaces pro ''ded by the <br /> ' <br /> City and subsequent joint use of facilities, and with the understanding tha'Arr" a_nding <br /> fie <br /> available in the adopted 5-year Capital Plan, which is appro imat- ,. S9.5 illion <br /> Dollars, shall be used within the City for that purpose. Ada). Iona , the •pplicant is <br /> c <br /> voluntarily contributing the value of seven (7) elemen O.ry sc '••5"itts in the amount of <br /> One Hundred Fifty Eight Thousand One Hundred ElEhty Si"II ollars (S153,186). <br /> A. Payment The Parties to this ee nt1 covenant and agree that the <br /> Applicant will make its : netary Prop rtionate Share Mitigation payment to <br /> i b <br /> the School Boar. vi hin fo'2e n (14) days after the Effective Date (as <br /> hereinafter define. ayment of the cost of the Banked Seats, in the amount <br /> t <br /> One Hundr,,..%. 'ight Thousand One Hundred Eighty Six Dollars <br /> '6), a`9 the voluntary contribution amount of One Hundred Fifty <br /> ;r 3 <br /> ig b�housand One Hundred Eighty Six Dollars ($158,186) shall be by wire <br /> Y:;, .kfer or any other method of payment acceptable to the School Board's <br /> „x} I <br /> r y ffice of Treasury Management ("Capacity Credits Purchase Funds"). The <br /> Monetary Proportionate Share Mitigation payment shall be non-refundable. <br /> B. Issuance of Finding: Upon the full execution of this Agreement by all <br /> appropriate Parties and receipt by the School District of the Capacity Credits <br /> SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION- — <br /> BEACH CLUB ACQUISITION,LLC AGREEMENT—DRAFT#2-5/14/2015 Page 6 of 22 <br />