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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 /> e <br /> City and subsequent joint use of facilities, and with the understanding tha`, `'''"',,nding <br /> available in the adopted 5-year Capital Plan, which is appro imat'4 $9.56 illion <br /> Dollars, shall be used within the City for that purpose. Al.0. iona , the Applicant is <br /> voluntarily contributing the value of nine (9) element:, sch®o :, of s in the amount of <br /> Two Hundred Three Thousand Three Hundred Eigh Two ;*ll.rs($203,382). <br /> t <br /> A. Payment: The Parties to this ...reel''-n covenant and agree that the <br /> Applicant will make its.�netary Proportionate Share Mitigation payment to <br /> f .2 <br /> the School Boar.• i hin fo�':een (14) days after the Effective Date (as <br /> 4, 1' <br /> hereinafter define. t`„'ayment of the cost of the Banked Seats, in the amount <br /> /N. <br /> N/�. ' <br /> Two Hun. o 21 e- Thousand Three Hundred Eighty Two Dollars <br /> yr 1 :2), a`.o <br /> 4 the voluntary contribution amount of Two Hundred Three <br /> ;f• �ho"�.and ee Hundred Eighty Two Dollars ($203,382) shall be by wire <br /> •�v <br /> kt .lbfer or any other method of payment acceptable to the School Board's <br /> '''Office 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 /> SUNNY ISLES PROPERTY VENTURE,LLC AGREEMENT—DRAFT#2—5/14/15 Page 6 of 22 <br />