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5 <br /> <br /> <br />5.5 Responsibilities: The Committee shall be responsible for <br />a. Developing and approving the RFP for Consultant <br />services; <br />b. Determining the maximum total cost for the Consultant's <br />services, which shall be stipulated in the RFP and the <br />final Consultant contract; <br />c. Reviewing and evaluating consultant proposals; <br />d. Recommending the selection of a consultant to the <br />governing bodies of the Parties; <br />e. Reviewing and approving Consultant deliverables; <br />f. Facilitating communication and coordination among the <br />Parties. <br />g. Providing public updates on Project progress as needed. <br /> <br />6. Timing: Subject to amendment by the Parties through the <br />Committee, the Parties agree to the following initial schedule for <br />action: <br /> <br />a. The parties shall select their representatives and alternates to <br />serve on the Committee no later than December 31 , 2025; <br />b. The Committee shall hold its first meeting at a time mutually <br />agreed to by the representatives no later than January 31, 2026 ; <br />c. The Committee shall agree upon language for the RFP no later <br />than March 31, 2026; and <br />d. The Committee shall select a Consultant, although it need not <br />finalizing the Consultant’s contract, no later than May 31, 2026. <br /> <br />7. Cost Sharing Formula: Before issuing the RFP, the Committee <br />shall determine a formula for how the costs of the Consultant’s <br />contract will be allocated between the Parties. <br /> <br />8. Fiscal Agent: Unless otherwise determined by the Parties through <br />the Committee, the Lead Agent shall serve as the fiscal agent (“Fiscal <br />Agent”) for the Project for the duration of this agreement. The Fiscal <br />Agent is responsible for collecting funds from the other Parties and <br />making payments to the Consultant. The Fiscal Agent shall provide <br />financial reports to the Committee as needed. <br /> <br />9. Payment Schedule: Consistent with the terms of the Consultant's <br />contract, the Parties shall agree upon a schedule for payments made to <br />the Consultant. Each Party shall be responsible for remitting its share <br />of each payment to the Fiscal Agent, who shall then be responsible for <br />timely payment to the Consultant. <br />