CCP 09-22-1997 - Laserfiche WebLink

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. transferees, or prospective tenants or transferees or the Redeveloper's failure to obtain necessary governmental permits or approvals except for the City's or Authority's failure to grant approvals necessary to carry out the Redeveloper's development as set forth in plans that the City and Authority have approved. In order for the Redeveloper 10 be entitled to suspend its personal obligation to pay the Assessments due to a delay as described above, il must within ninety (90) days after first learning of the cause of the delay, notify the Authority in writing describing the cause for the delay and describing the actions that Ihe Redeveloper intends to take to eliminate the cause of the delay. The Redeveloper shall diligently take all reasonable action to attempt to eliminale the cause for the delay. If the Redeveloper's personal obligation to pay the -- Assessments are entilled to be suspended due to a delay described above, the obligations shall only be suspended for a period of time equal to the period of time that the Redeveloper is actually delayed, If an excused delay relates only to a portion of the Redevelopment Property and not to the entire property, the Redeveloper's obligalionto pay Assessments shall be suspended only with respect to the Assessmenls levied on the portion of the property the development of which has been delayed, The relief that may be accorded to the Redeveloper under this subsection extends only to the Redeveloper's personal obligation to pay the Assessments and the Authority's right to accelerate the Assessments under this Section 6.1 and shall nol affect the timing of payment of . the Assessments, and the Assessmenls shall remain due and payable as special assessments, in accordance with their terms, against the Redevelopment Property. Section 6.2. Tax Tnerement Certification, The Tax Increment District has been established and the County auditor of the County has certified the original tax capacity of the Tax Increment District pursuant to Minnesota Stalutes, Section 469.177. Section 6.3, Real Propetty Taxes, The Redeveloper agrees that prior 10 the Termination Dale it will not take any of the following actions to the extent that it would reduce the Market Value of any Parcel of the Redevelopment Property below the minimum market values to be cstablished in the Assessmenl Agreements pursuant to Section 6.5: (1) il will not seek administrative review or judicial review of the applicability of any tax statuto determined by any Tax Official to be applicable to the Project or the 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 statute detennined by any Tax Official 10 be applicable to the Project or the Redeveloper or raise the unconstitutionality of any such tax statute as a defense in any proceedings, including delinquent tax proceedings; (3) it will not cause a reduction in the Market Value of the Redevelopment Property 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, or any part thereof; (B) willful refusal to reconstruct damaged or destroyed property pursuant to Section 5.1 oftbis AgJ:eement, except as otherwise contemplated herein; (C) a request to the city asscssorofthe City or the county assessor of the County to reduce the Market Value of all or any e portion of the Redevelopment Property; (P) a petition to the board of equalization of the City or the boatd of equa1ization of the County to reduce the Market Value of all or any portion of the Redevelopment Property; (E) a petition to the board of equalization of the State or the 22 <.G'd 6NIL. <.G6 <:t9 't1'd '3>113<1 'g A3'l<Il:I<lS: o<:,St L.66t-6t-d3S