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<br />known as Municipal Development <br />Development District No. 1 and <br />Ci ty (the "proj ect Area") . <br /> <br />D i s t r i c t :J o. .:, <br />Redevelopment <br /> <br />=:-:6:"':'5::-:'3.- <br /> <br />~:-2~ec: <br /> <br />.':'.:-ea <br /> <br />........~ <br /> <br />d b . ~ounc~l cursuant <br />(c) There has been approve Y tne ~. ~~, r~~~~n ~~ <br />t PI n Redone I ~nmen. ;::¡.. a..~ <br />to the Act, a Municipal ~eve~opm~n 1 ~'~n' fo;Vth;~p:-~je;; ~:-ea <br />Industrial Development Dlstrlct 10. " .J.. <br />(collectively, the "Redevelopment Plan) <br /> <br />(d) In order to achieve the ~bjectives of the <br />Redevelopment Plan, the City has determln~d to,provlde <br />substantial aid and assistance i~ con~ectlon wlth, th~F the <br />Redevelopment Plan through the,flnanclng of certaln ~~ <br />redevelopment costs in the ProJect Area. <br /> <br />r-.' .,......, ---' <br />t"".......1.J-~...... <br /> <br />(e) Fairview H.A. Associates, L.L.C. (the F <br />"Developer"), and the City have developed an approach ~~~ <br />construction within the Project Area, ln contemplatlo~ ':' a r ~ '-,co <br />certain Development Agreement between the Clty andd~e:eLo~ef S~=~ <br />"Develo ment Agreement") stating the terms and con ltlons 0 <br />develop~ent and the City's responsibilities respeC~lng t~e <br />assistance thereof, and the Developme~t Agr~ement nas be_n <br />Dresented to the Council for its conslderatlon. <br /> <br />2. Approval. The City hereby approves the Development Agreement, substantially <br />in the form presented to the Council, to be dated as of its date of execution in 1997, with the <br />condition that Mr. Allen work diligently with Pacific Mutual Door to provide a joint <br />driveway/access when Pacific Mutual Door expands in the future, and hereby authorizes the <br />Mayor and City Manager to execute the Development Agreement on behalf of the City, with <br />such additions and modifications as those officers may deem desirable or necessary, as evidenced <br />by their execution thereof. <br />3. ImDlementation. Upon the execution and delivery of ~~e <br />Development Agreement, the officers and employees of the City are <br />hereby authorized and directed to take or cause to be taken suc~ <br />actions as may be necessary on behalf of the City to implement <br />said agreement. <br /> <br />4. Finding. The Council hereby determines that the <br />execution and performance of the Development Agreement will help <br />realize the public purposes of the Act and are in furtherance of <br />the Redevelopment Plan. <br /> <br />5. Tax Increment Note. Exhibit B of the Development <br />Agreement is a Tax Increment Note for reimbursing the Developer <br />for land and site improvements, payable from Pledged Project Tax <br />Increments (as defined in the Development Agreement). The <br />execution and delivery of the Tax Increment Note is authorized t·: <br />a separate resolution. <br /> <br />1'j 7'j1R ;> <br />