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Rice Creek Commons Terms for Final Development Agreement 12/4/2023 <br />3 <br /> <br />Commercial/Industrial Development and Job Creation <br /> <br />The parties understand that new employment at well-paying jobs is an important <br />objective for Rice Creek Commons, for which reason certain areas have been zoned <br />for commercial or industrial usage. Accordingly, the parties agree to pursue <br />appropriate buyers or tenants for such areas as will maximize the opportunities for <br />such employment. <br /> <br /> <br /> <br />• Details about job creation goals <br />Green Energy Goals and Infrastructure <br /> <br />The parties share the goal of building an ambitious, sustainable development. The <br />parties endorse the Rice Creek Common Energy Vision, as adopted by the JDA on <br />10/2/23, and will collaborate in alignment with the guiding principles therein. As part <br />of working toward this vision, the parties will explore the feasibility of an all-electric <br />development and work with the selected energy consultant to create metrics to be <br />included in the final development agreement to achieve these goals. <br /> <br /> <br />• Specifics to be determined through energy consultant <br />contract: <br />o Goal for the development (i.e. net zero or all- <br />electric or carbon neutral or other) <br />o Energy technologies to be used to achieve that <br />goal <br />o Metrics <br />• Financing for green energy work <br />• Other sustainability requirements beyond energy <br />Building 116 <br /> <br />The JDA will support the developer’s exploration of the feasibility of moving Building <br />116 off the site, including identifying a way to pay for the relocation. <br /> <br /> <br /> <br />• Financial resources to be used <br />• Regulatory process and permissions necessary to move <br />the building <br />Maintenance and Operating Costs/Responsibilities <br /> <br />The parties understand that ongoing maintenance and associated costs will need to <br />be addressed in the final development agreement. Furthermore, each party may <br />have its own goals in the short and long term. The parties will work collaboratively to <br />address these in the final development agreement. For example, it is important to <br />the City to ensure the Rice Creek Commons does not put undue financial risk or <br />burden on the entire City and will seek to have short-term and long-term funding <br />gaps addressed. <br /> <br /> <br /> <br /> <br /> <br />• Financial responsibilities of all parties for long-term <br />maintenance and operating costs of the development