2006-09-13 CC Packet - Laserfiche WebLink

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BASIC TERMS AND CONDITIONS The following is a list of the terms and conditions under which the Developer will proceed on an exclusive basis for the term of this Agreement to determine the economic feasibility of the Master Plan. If the Developer determines that the Master Plan is economically feasible a definitive "Development Agreement" for the Project intended to define the responsibilities and roles of the respective participants regarding the proposed Development of the "Project" would then need to be negotiated between the City and the Developer. 1. Term. The term of this Agreement will be from the date listed above through December 31,2006. Said exclusive period shall continue, unless earlier terminated as provided herein, or until such later date as the parties may mutually agree. 2. Development Property. The "Development Property" known as "Downtown Centerville" is located south and north of CSAH 14 - Main Street and east and west of CASH 21- Centerville Road. The Development Property is bounded on the north by the one block area north of CSAH 14, on the west by Goiffon Road and the east property line of St. Genevieve Church, on the south by the area approximately half a block south of Heritage Street, and on the east by the area one block east of Progress Street. The exact dim ens ions and square footage of the Project shall be determ ined by survey. The parties agree that the "Site" may be enlarged to include other lands at the mutual agreement of the parties. 3. Undertaking and Exclusive Rights. In consideration of the time, effort and expenses to be incurred by Developer in pursuing the undertakings set forth herein and in further consideration of the amount of $1.00 paid to the City, the receipt of which is hereby acknowledged, the City hereby agrees that for the term of this agreement it shall not: (i.) solicit requests from any third party for development of the Master Plan; and (iL) provide or enter into an agreement for provision of financial assistance to any third party in connection with any proposed development of the Master Plan (except as related to the CSAH 14 project). During such period the Developer shall have the exclusive right to work with the City in determining the economic feasibility of the Master Plan pursuant to Section Bof this Agreement. The above notwithstanding the City recognizes that any development proposals or applications on property not owned or controlled by the City do not extend to this Agreement and will be excepted. 4. The Project. The project will consist of the Development of the properties set forth in Exhibit B and may include, but not be limited to, the development of new office, retail, apartments, senior cooperatives, townhomes and condominiums, and the relocation of certain existing businesses within the proposed site. The relocation and redesign of several streets. The Master Plan is intended to serve as part of the system of pedestrian networks to link neighborhoods to each other and connect them to parks, and the regional trail systems. 5. Public Assistance. In order to achieve the foregoing multi-use "Development," it is anticipated that the definitive Development Agreement will contain provisions addressing a variety of forms of public assistance that may be necessary in order to accomplish the Development. Although no commitment is presently being made to provide any form of public assistance, examples of public assistance which may be ultimately be agreed upon may include, but are not limited to, the following: a. Site Assembly & land Write-Down. The City may consider acquisition of some or all of the Development Property based upon terms and conditions contained in the Development contract. Acquisition may be through negotiated purchase, or, after a good faith effort to acquire the site, condemnation or a combination. Acquired properties mmay be conveyed to the Developer at a write-down, subject to all of the applicable provisions of law. The write-down price may take into consideration any pending or levied special assessments. The difference between the City's assembly costs and the sale price may be paid to the Developer out of Project tax increment. 2