Performance and Payment. ADOT intends to enter into a long-term P3 Agreement with Developer that transfers significant responsibility for the design, construction and ongoing operations and maintenance of the lighting system to Developer. ADOT may make one or more milestone payments to Developer during the design and construction/installation period, with the amount, timing, manner and conditions of payments to be set forth in the RFP. During the operations and maintenance period, ADOT will make availability payments as consideration for Developer’s performance of its obligations under the P3 Agreement. The performance requirements are currently under consideration, but will be set forth in the RFP and are expected to include achievement of a prescribed level of system availability, prescribed levels of luminance, energy consumption that is lower than the maximum allowable consumption (kWh), certain response times for repair and other measures of performance. The payment mechanism is expected to include deductions in the event of noncompliance, with such deductions escalating over time in the event of persistent noncompliance. ADOT will be responsible for electrical utility payments relating to the lighting system, and ADOT intends to share the benefits of reduced energy consumption between ADOT and Developer.
Appears in 3 contracts
Sources: Public Private Partnership Agreement, Public Private Partnership Agreement, Public Private Partnership Agreement
Performance and Payment. ADOT intends to enter into a long-term P3 Agreement with Developer that transfers significant responsibility for the design, construction and ongoing operations and maintenance of the lighting system to Developer. ADOT may make one or more milestone payments to Developer during the design and construction/installation period, with the amount, timing, manner and conditions of payments to be set forth in the RFP. During the operations and maintenance period, ADOT will make availability payments as consideration for Developer’s performance of its obligations under the P3 Agreement. The performance requirements are currently under consideration, but will be set forth in the RFP and are expected to include achievement of a prescribed level of system availability, prescribed levels of luminance, energy consumption that is lower than the maximum allowable consumption (kWh), certain response times for repair and other measures of performance. The payment mechanism is expected to include deductions in the event of noncompliance, with such deductions escalating over time in the event of persistent noncompliance. ADOT will be responsible for electrical utility payments relating to the lighting system, and ADOT intends to share the benefits of reduced energy consumption between ADOT and Developer.Developer.
Appears in 1 contract
Sources: Public Private Partnership Agreement