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2025-462-E-DEAPR-Recreation Factory Partners-portsplex Management Agreement
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2025-462-E-DEAPR-Recreation Factory Partners-portsplex Management Agreement
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Last modified
7/31/2025 2:31:40 PM
Creation date
7/31/2025 2:29:33 PM
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Contract
Date
7/18/2025
Contract Starting Date
7/18/2025
Contract Ending Date
7/29/2025
Contract Document Type
Contract
Amount
$194,364.00
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<br />G. Recreation Factory Partners Living Wage Policy: <br /> W <br /> 4 4 ’ ’ <br /> z <br /> <br /> <br /> <br /> <br />— j <br /> <br /> <br /> j <br /> <br />— <br /> <br /> j <br />— 4 <br /> N z 1 “ j ” <br /> <br />— N 9 <br /> <br />— j B “ ” <br /> 9 <br />— 1 99 <br />— <br /> <br /> <br /> <br />H. Recreation Factory Partners Proposed Management Fee to perform Project: <br />Flat Rate: <br /> <br />• $200,000 annually with 2.5% CPI escalator <br />• Expense reimbursement based on submitted invoices with backup, not to exceed $1,500 per month <br />• 5-Year Term <br /> <br />-OR- <br /> <br />Performance Based Alternative: <br /> <br />• Base rate: $175,000 <br />• Net income greater than $1,250,000 at 10% <br />• Net Income greater than $1,500,000 at 20% <br />• Expense reimbursement based on submitted invoices with backup, not to exceed $1,500 per month <br />• 5-Year Term <br /> <br /> <br />Docusign Envelope ID: 177AA06A-30B4-42FF-A85A-78B5A7C51DBE
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