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Last modified
7/17/2007 9:29:34 AM
Creation date
1/10/2006 3:17:23 PM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
12/19/2006
Resolution #
10367
Resolution Title
RESOLUTION AUTHORIZING THE ACQUISITION OF CERTAIN PROPERTY FOR PUBLIC USE BY RIGHT OF EMINENT DOMAIN
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<br />(j) At least ten percent (10% )of the housing units will be affordable to families at or <br />below 115% of area median income as announced annually by HUD. <br /> <br />(k) The Redeveloper is aware of the litigation brought by the Friends of Twin Lakes <br />and acknowledges that in the future additional legal challenges could be brought against the <br />Project or creation of the Tax Increment District or both. The Redeveloper acknowledges that <br />the City has made no representation of any kind as to the likelihood that the City will prevail in <br />this or in any future litigation. The Redeveloper agrees that it shall bear the financial risk that the <br />Project may be unable to proceed in whole or in part. The Redeveloper will cooperate with the <br />City with respect to this and any other litigation commenced by third parties in connection with <br />this Agreement or the transactions contemplated herein. <br /> <br />(1) The Redeveloper acknowledges that future legislative changes or other events not <br />within the control ofthe City may adversely impact the amount of Tax Increment. <br /> <br />(m) The Redeveloper will act in good faith to take all actions possible to carry out the <br />terms of this Agreement. <br /> <br />9 <br />
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