CCP 09-22-1997 - Laserfiche WebLink

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. Improvements or materially deviates from the plans approved in connection with the City's granting of planned unit development approval. The Authority's rejection of a change in Construction Plans that if approved would reduce the value of the Minimum Improvements shall not be considered unreasonable on the part of tbe Authorily. Any requested change in thc Construction Plans shall, in any event, be deemed approved by the Authority unless rejected, in whole or in Pari, by written notice by the Authority to the Redeveloper, setting forth in detail the reasons therefor. Such rejection shall be made within ten (10) business days after receipt by the Executive Director of the AuthoQty of a written request for the change, which request shall include the proposed change in the Construction Plans and a written narrative expl~g Ihe purpose and details of the change, No approval of a change by the Authority under this subsection shall relieve the Redeveloper of its obligation to obtain the approval of the City if such approval is necessary. (c) The Minimum lmprovements will be designed and constructed consislent with the architectural theme approved by the City. (d) The construction by the Authority of the Public Improvements will necessitate certain wetlands mitigation, The Redeveloper agrees that the Minimum Improvements will be designed to accommodate all such wetlands mitigation and to relieve the Authority of the . responsibility therefor, Section 4.3. c.ommP.ncernent and Comnletion of Construction. (a) Subject to Unavoidable Delays, the Redeveloper shall commence construction of at least 10,000 square feet of the Minimum Improvements by May I, 1998, or on such other dale as the parties shall agree. Subject to Unavoidable Delays, the Redeveloper shall complete the construction of at least 100,000 square feet of the Minimum Improvements II by December 31, 1998, Subject" to . Unavoidable Delays, the Redeveloper shall complete the construction of an aggregate of at least 170,000 square feet of the Minimum hnprovements by August 1, 1999, or on such other date as the parties shall agree. Subject 10 Unavoidable Delays, the Redeveloper shall complete the construction of an aggregate of at least 270,000 square feet of the Minimum hnprovements by December 31, 1999, or on such other date as the parties shall agree. All work with r~ect to the Minimum Improvements to be constructed or provided by the Redeveloper on the Redevelopment Property shall be in conformity with the Construclion Plans as submitted by the Redeveloper and approved by the Authority. The Redeveloper's failure to meet the construction deadlines above shall not constitute an Event of Default under this Agreement if the Redeveloper is current with respect to its obligations to pay installments of Assessments as described in Section 6,1, (b) In the event that the Redeveloper has not commenced the construction of at least two Phases of the Minimum Improvemenls, excluding the Prior Improvements, by a date four (4) years after the date hereof, the Authority shall have the right to purchase the Redevelopment . Property, or any Parcel thereof, from the Redeveloper by paying to the Redeveloper the fair market value of such parcel. Fair market value shall be determined through an appraisal process under which the AUlhority and the Redeveloper each select an independent qualified appraiser who in turn select a third appraiser. Each appraiser shall appraise the subject property and the 16 tc'd 61>0l. l.c6 ct9 'l;;1'd '3>iI3a '8 A3l<1\:JClEl lot :St l.66t-6t-d3S