Common use of Contribution Formula Clause in Contracts

Contribution Formula. The Parties have agreed that Annual Contributions from each Participant jurisdiction have been and shall be calculated as follows: A. = Miles of Impaired Streams in Participant Jurisdiction x $490.9135 per mile* B. = 2010 Population per U.S. Census in Participant Jurisdiction x $0.698622 per person* C. = Acres of Impervious Coverage in Participant Jurisdiction x $17.43491 per acre* * round result to a whole number; no decimals Total Contribution Over Five Years = A + B + C Annual Contribution = (A + B + C) / 51 1 Miles of Impaired Stream in Participant Jurisdiction = 20% of contribution ($200,000 / total miles of Impaired streams (407.40371) = cost/ mile) Population in Participant Jurisdiction = 30% of contribution $300,000 / total population (429,417) = cost/ person) Impervious Coverage (by acre) in Participant Jurisdiction = 50% of contribution $500,000 / total impervious cover (28,678.09) = cost/acre) This formula and each Participant’s Annual Contribution shall not be changed or revised through the Term (as defined below) of this Agreement.