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Purchase Funds, and transfer of Capacity Credits to the Applicant, the School <br /> District shall issue a Finding of Available School Facility Capacity <br /> ("Finding")pursuant to the ILA. The duration and effect of this Finding shall <br /> be in accordance with the ILA. However, in no event shall this Finding, or <br /> any allocation of student seats based on this Finding ("School C)ncurrency <br /> (- <br /> Allocation"), continue to be effective if the Applicant fail',01"'':t; form <br /> s. <br /> his/her/its obligations under this Agreement. Conversa , o '6 Appli :nt has <br /> t,.,:t,,,,, <br /> completely performed his/her/its obligations unde'i±.is A eeme `t, Applicant <br /> 4fr 4. <br /> shall be entitled to rely on the Finding ant Schoo "; rrency Allocation, <br /> subject to the terms and conditions state herei k,..ln the event Applicant fails <br /> to pay the Monetary Proportionat �g:E 1•igation Payment as provided for <br /> herein, the School Distric,!tits sole o. :•n, may cancel this Agreement and <br /> �,�. <br /> return the Capacity :dit o ✓e Mitigation Bank. Issuance of a Finding by <br /> fv <br /> the School Dist ,h, lbe a p e-condition to issuance of building permits by <br /> %ni. <br /> the City fo ,ti-.subjec'p6velopment Proposal. <br /> . <br /> 5. i '9 CA TONAL FACILITIES IMPACT FEE CREDIT. As <br /> 3 <br /> conside,=,�; , o the Applicant's Monetary Proportionate Share Mitigation specified <br /> h-rdl.i. the Ps ties agree that the School District shall provide a credit toward any <br /> Educatio •'` Facilities Impact Fee(s) ("Impact Fee") imposed by Miami-Dade County <br /> ("County") ordinance for construction of the Development Proposal ("Impact Fee <br /> Credit"). The estimated value of the Impact Fee Credit shall be Two Hundred Three <br /> Thousand Three Hundred Eighty Two Dollars ($203,382), which is the result of <br /> multiplying Twenty Two Thousand Five Hundred Fifty Eight Dollars ($22,598) (the <br /> SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION- — <br /> SUNNY ISLES PROPERTY VENTURE,LLC AGREEMENT—DRAFT#2—5/14/15 Page 7 of 22 <br />