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City Council voted to go forward with EIR on January 19, 2016.
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Hypothetical date
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MOA states SLOLT must raise two thirds of the estimated required funding within 3 years of the agreement.
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MOA requires 100% of the estimated required funding, including a contingency of 20%, must be available as cash or guaranteed financing that is acceptable to the City’s Finance Director to prior to the start of construction; AND, MOU requires that our fundraising plan will include at a minimum a timeline with milestones that are required to be met no later than 1 year from the estimated completion of the Palm Nipomo Parking structure.
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Draft MOA states that construction must be complete within 3 years of completion of the parking structure.
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