CCP 08-18-1997 - Laserfiche WebLink

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. (a) Real property taxes and installments of special assessments payable with respect to tbe Authority Acquisition Property shall be prorated between the Redeveloper and Authority as of the date of conveyance thereof to the Redeveloper. (b) The Redeveloper agrecs that prior to the Tcrmination Date it will not take any of the following actions to the extent that it would reduce the Market Value of any Parcel of the Redevelonment Property or the Redevelopcr Prorertv below the minimum markct values to be estab lished m the Assessment Agreements ~\:lal Tal' Inerament ;enerated frem the PceelevelopF\en: FraIlert)' (alul Rellenl6jler Frepert)'?) belo'" !he amoun:5 !;"-df<IHteed by the Redeveloper liBder Seetion ~.Ipllrsuant to Scction 65: (I) it will not seek administrative review - or judicial review of the applicability of any tax statutc determined by any Tax Official to bc applicable to the Project or thc Redeveloper or raise the inapplicability of any such tax statute as a defense in any proceedings, including delinquent tax proceedings; (2) it will not seek administrative review or judicial review of the constitutionality of any tax stalLlte determined by any Tax Official to be applicable to the Projcct or the Redevcloper or raise the tmconstitutionality of any such tax stalute as a defense in any proceedings, including delinquent tax proceedings; (3) it will not cause a reduction in the Market Value of the Redevelopment fand Redeveloper Propcrtyf) below the Minimum Market Value set forth in the Assessment Agreement to be entered into pursuant to Section 6.5 through: (A) willful destruction of the . Redevelopment Property {and Redeveloper Propertyf), or any part thereof; (B) willful refusal to reconstruct damaged or destroyed property pursuant to Section 5.1 of this Agreement; (C) a request to the city assessor of the City or the county assessor of the County to reducc the Market Value of all or any portion of the :Redevelopment Property {a11d Redeveloper Property~; (D) a petition to the board of equalization of the City or the board of equalization of the County to reduce the Market Value of all or any portion of the Redevelopment Property {and Redeveloper Property~: (E) a petition to the board of equalization of the State or the commissioner ofreverue.. of the State to reduce the Market Value of all or any portion of the Redevelopment Property fmtdlilllLRedeveloper Property~; (F) an action in a District Court of the State or the Tax Court - of the State pursuant to Minnesota Statutes. Chapter 278, seeking a reduction in the Market - Value of the :Redevelopment PreJlerty (and Redeveloper Propertyf); (G) an application to the commissioner of revenue of the Slate requesting an abatement oheal property taxes pursuant to I Minnesota Statutes Chapter 270; and (H) any other proceedings, whether administrative, legal or equitable, with any administrative body within the City, the County, or the State or with any court of the State or the federal govcmment. The Redeveloper shall not, prior to the Termination I Date, apply for a deferral of property tax on the Redevelopment Property fand Redeveloper Property~ pursuant to Minnesota Statutes. Section 469.181. I Section 6.4. Use of Tax Increment. The Redevelopment Property is located in the Tax Increment District. The Authority shall be free to usc any tax increment received from the Tax Increment District for any purpose for which such increment may lawfully be used pursuant to I the provisions of the Act and the Tax Increment Act, and the Authority shall have no obligations to the Redeveloper with respcct to the use of such increment. rhe A..n19rity will pledge niRe~' ,. percent (90~() of tlte Tal( Increment ts the jla)'mGd of the gonds, with the remaHHB.;; ten jlElfeent (IQ~/") sem;; ratameds)' the Autherity-te pay it5-llllmiillstrati..-e 60StS. I 23 60/t0 . d 6v0.'. .'.C:6 C:B '~'d '3~I3a ~ A3la~da 61':9. .'.66.-H-911t!