FLOOD00201 - Laserfiche WebLink

Home Browse Search

,'. c Section 88, Public Law 93-251 is based upon an estimated total acquisition and administrative costs for the required lands currently estimated at $550,000 to acquire the estate specified in Exhibit E. . The City agrees that these federal funds will be used exclusively for the acquisition of appropriate interests in the required land for Reach One and appropriate acquisition costs and fees as permitted under federal or state law. The parties to this contract understand that the figure of $550,000 identified as "Remaining Tracts" in the formula in Exhibit D, could change depending on what amount of money is actually spent in acquiring the necessary remaining tracts. The parties agree that the District Engineer of the Omaha District shall have the right to monitor each land acquisition activity of the City in acquiring the "Remaining Tracts." It is further agreed that the District Engineer must approve the amount of just compensation paid for any single tract, unless such just compensation is determined by a court following eminent domain proceedings. The City agrees that the State and Corps of Engineers shall have the right to audit all acquisition activities and that each acquisition proposal will be submitted to the State for payment, after the District Engineer approves of the just compensation, except that 'w the State agrees to approve payment to the City for immediate possession pursuant to and, in any amount ordered by a court to be paid into the registry of said court for such possession. If the ultimate amount under "Total Corps participation" in Exhibit D is more than the'$603,560 granted to the State by the Corps of Engineers, the State agrees to pay the additional amount to the City, but only to the extent that addi- tional federal funds, if any, are made available to the State for that purpose. It is specifically understood by the parties to this agreement that any payment by the State to the City pursuant to any part of this -6-