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6 <br /> The scope does not include a refresh or update (supplemental data collection and subsequent <br /> updated analysis) that could be required in the event that, for reasons beyond the control of DFI, <br /> (i) the development solicitation process is not commenced within two years of the Effective <br /> Date, or (ii) more than one solicitation for development partners must be created and/or <br /> marketed. <br /> The fee accounts for efficiencies gained from utilizing the Client's prior visioning and planning <br /> activities as it relates to the Project. <br /> Deliverables <br /> Deliverables include presentations, summaries, and other documentation intended by DFI to be <br /> delivered to the Client regarding the above Scope of Services. <br /> In similar projects, DFI has typically delivered 8 to 10 updates via PowerPoint presentations and <br /> 3 to 5 memos (accompanying presentations to elected boards) to the Client throughout the <br /> course of a 12-month scope. <br /> Activity#11 in the above Scope of Services will result in a written Solicitation for Development <br /> Partner(s) document, with supporting background and due diligence materials to be shared with <br /> the Client and prospective development partners. <br /> Timeline <br /> The timeline for completing Activities 1-10 is estimated to be 12 months from commencement. <br /> DFI intends to help the Client attract private investment into the Project (Activities 11-15) as <br /> quickly as possible and in a way that maximizes overall value and serves the public interests. <br /> Fee <br /> The flat fee for the above Scope of Services is $132,400. The flat fee is payable over two <br /> installments of $66,200 each, over two fiscal years if desired. <br /> The Client fee would cover only part of DFI's cost of services, with the balance being "at risk,"to <br /> be paid as a fee from each successful project. DFI's pre-development services will not only <br /> assist the Client in accomplishing its goals but will also benefit the ultimate private developer(s) <br /> by eliminating predevelopment work, risk and expense. In order to minimize the Client's costs, <br /> we require the Project to pay for the value of that benefit in the customary way, as a portion of <br /> development costs. If the Client is successful in executing a Development Services Agreement <br /> with a private partner, DFI will receive a Development Services Fee. This Development Services <br /> Fee paid by the Project would be 1% of total project costs. <br /> 4 <br />