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2024-01-02 P & Z Packet
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2024-01-02 P & Z Packet
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Developer to participate in the cost of <br />streetscaping from Main Street to Development <br />Property. Streetscaping to be of similar scope <br />and design as the elements along Main Street <br />in the downtown. Streetscaping within the ROW <br />will be maintained by the Authority and <br />participation in the construction of the <br />Streetscaping may include the Developer, the <br />Authority, and adjacent property owners or <br />future developers of adjacent and nearby <br />property. <br />o Trail connections <br /> Developer shall construct trails and connections <br />to serve the Development Property on or directly <br />related to the specific Development Property. <br /> School District <br />o Developer will endeavor to coordinate its design and <br />construction with the School District with the goals of <br />adequate bus circulation, traffic, security, and other <br />aspects of importance to the School District. <br /> <br />3. The Parties shall specifically define the following terms and conditions <br />for later incorporation into a Development Agreement: <br />a. Principal Amount of the unimproved Development Property; <br />b. Minimum Improvements; <br />c. Substantial Completion Date of the Minimum Improvements; <br />d. Minimum Market Value of the finished Development Property; <br />e. The intended final owner of the Development Property; <br />f. Tax Increment Financing District; <br />g. Tax Increment Financing terms and conditions; <br />h. Tax Increment Note(s); <br />i. Tax Increment Financing Agreement; <br />j. Special Assessments, if applicable; <br />k. Property and Construction Escrows and Warranty Bonds. <br /> <br />4. Escrow for Costs: <br /> <br />Developer authorizes the creation and maintenance of an escrow that shall be <br />held by the Authority. These funds held in escrow shall be drawn down for <br />payment of City services and consultants as may be necessary for the <br />tğŭĻ Ѝ <br /> <br />ĻƩƭźƚƓ ЊЋΉЉБΉЋЉЋЌΏЋ <br /> <br />
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