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2007-06-13 CC
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2007-06-13 CC
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<br />(a) Acquisition: <br /> <br />(i) For Phase I only, negotiate the terms of the sale by the City to the <br />Developer of the City Property. <br /> <br />(ii) Developer shall attempt on a voluntary basis to secure control of the <br />Acquisition Property included in that particular Phase through the negotiation of options <br />or purchase agreements with the owners thereof. <br /> <br />(ill) Developer will identify to the City those Parcels of the Acquisition <br />Property for that particular Phase that it will be unable to acquire on a voluntary basis. <br /> <br />(iv) City will determine whether it can use its eminent domain authority to <br />acquire those portions of the Acquisition Property for that particular Phase that Developer <br />is unable to acquire on a voluntary basis. <br /> <br />(v) City and Developer will determine whether they can agree on the terms <br />and conditions of the City's acquisition of any portion of the Acquisition Property that <br />Developer is unable to acquire on a voluntary basis for that particular Phase, including, <br />without limitation, the amounts of deposits and security to be provided by the Developer <br />to the City to cover the City's costs of acquisition and related relocation costs. <br /> <br />(b) Financing: <br /> <br />(i) For Sub-Phases other than the Sub-Phases in Phase I the City and <br />Developer will determine whether they can agree on the financial feasibility of the <br />development of the Minimum Improvements and Public Improvements for each Sub- <br />Phase of the applicable Phase. <br /> <br />(ii) For Sub-Phases other than the Sub-Phases in Phase I Developer will <br />identify the sources of available funds to be used to construct the Minimum <br />Improvements and Public Improvements for each Sub-Phase of the applicable Phase. <br /> <br />(ill) For Sub-Phases other than the Sub-Phases in Phase I City shall use its best <br />efforts to endeavor to obtain and procure any available and necessary public financial <br />assistance for each Sub-Phase of the applicable Phase, including but not limited to grants <br />and Tax Increment. <br /> <br />(iv) For Sub-Phases other than the Sub-Phases in Phase I City and Developer <br />will negotiate the terms of any Notes to be issued to the Developer to reimburse the <br />Developer for Public Development Costs rell:!1ed to such Sub-Phases. <br /> <br />(c) Construction Plans: <br /> <br />(i) For Sub-Phases other than the Sub-Phases in Phase I Developer and City <br />will refine and agree upon final Construction Plans for the development of the Minimum <br /> <br />11 <br />
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