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<br />. <br /> <br />. <br /> <br />. <br /> <br />MRR-19-2002 13:37 <br /> <br />CDMMur, I TY DEl) <br /> <br />6129242663 <br /> <br />P.20 <br /> <br />Section 3. Developer Agreements and Undertakings. <br /> <br />(a) The Developer acknowledges and accepts the master site plan as described in Section <br />2(a) hereof. The Developer expressly agrees and understands that Developer will be <br />responsible for development of the owner-occupied housing component of the <br />master site plan will Be as\'elej'lSB by ar.etller Jlill't/,. but eXDects to select a third <br />Darty to carn' out that component. The Authority and Developer agree to <br />negotiate, as part of the Contract, the terms for selection of the owner-occupied <br />housing developer (which will be sublect to Authority aDDroval) and the terms of <br />sale of Phase I l.rea the relevant portion of Park Commons East property to that <br />developer. }Ioll:illg ill tRiG .^.greem8at gi':es ll1e De'.'elojler a@~'olojlmeRt rigllts <br />regafeliRg tl:ie e~Nfler O'ee\:1~iea R8usiRg somp9fleflt eT ar~y "~~\itl\erity assistaflse relateS. <br />tRrarete. <br /> <br />(b) The Developer will use its best efforts to complete the following tasks by the <br />following dates: <br /> <br />I) by August 15,2000, submit a feasibility analysis of the development including, at <br />a minimum analysis of: <br /> <br />,. functionality <br />:;. preliminary cost estimates <br />~ preliminary financing and gap analysis (showing the amount and form of <br />public subsidy) <br />)> preliminary phasing plan and related components <br />~ retail/office/housing mix <br />)> suggested modifications of the master site plan, as necessary to make the plan <br />feasible and identification of other issues, <br /> <br />2) by September + ~, 2000, request City to initiate any necessary comprehensive <br />plan changes and rezonings, conditioned on the parties' mutual agreement to <br />proceed. <br /> <br />;D by October ~ 1, 2000, submit to the Authority a final feasibilitv analysis that <br />refines the analysis submitted under clause (1): and the Darties commence <br />nel!'otiation of the Contract. <br /> <br />4) By December 1, 2000. submit to the Authoritv a detailed schematic design for <br />tile Pllase I -''erea Park Commons East, including site plan, buildings, <br />infrastructure. and preliminarv Dhasjnl!' plan; and submit preliminary plat <br />documents and application for planning approvals (inc1udinl! Dreliminan' PUD). <br /> <br />~ by December. <br />&j- <br />7) llj' Nevemller 15, 2000, the parties must have approved the following <br /> <br />sm.1B2172vl <br />>A285-40 <br /> <br />4 <br />