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CCP 06-15-1993
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CCP 06-15-1993
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<br />. (a) In the event the Developer successfully markets a site <br />within the Redevelopment Property for development, the <br />City will, consistent with the terms, conditions and <br />requirements of this Agreement, fully cooperate with <br />the Developer in order to facilitate development as <br />contemplated by this Agreement; <br /> <br />(b) In the event the City is contacted regarding or <br />otherwise becomes aware of development opportunities or <br />prospects that may be appropriate for the Redevelopment <br />Property, the City shall immediately notify Developer <br />thereof and shall refer any prospects or inquiring <br />parties to Developer; <br /> <br />(c) The City will not permit, approve or authorize <br />development on the Redevelopment property which is <br />inconsistent or incompatible with the type and <br />character of development shown on the Concept Plan and <br />contemplated by this Agreement. <br /> <br /> <br />The foregoing exclusive development rights are not intended <br />to limit independent land owners from developing their <br />properties, but rather is intended to restrict availability <br />of tax increment financing assistance for such development, <br />unless Developer is involved as the developer in any such <br />... transaction. <br /> <br />The city further agrees that, during the term of this <br />Agreement, it will not create another tax increment district <br />for commercial/ industrial development within the city, nor <br />provide other forms of city financial assistance for <br />commercial/industrial development on sites other than the <br />Redevelopment Property. <br /> <br />ARTICLE VI. <br />TERM AND TERMINATION <br /> <br /> <br />6.1 Term. Subject to the respective rights of early <br />termination hereinafter set forth, this Agreement shall have <br />an initial term of five (5) years, commencing <br />, 1993, and expiring , <br />1998, provided, however, that the Developer shall have the <br />option to extend the term hereof for an additional five (5) <br />year period commencing , 1998 and expiring <br />, 2003. The Developer shall exercise its <br />option to extend by delivering written notice thereof to the <br />ci ty , not less than ( ) days prior to <br />expiration of the initial term hereof. ---- <br /> <br /> <br />. <br /> <br />9 <br />
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