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PF_3595_Contract
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PF_3595_Contract
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Last modified
7/17/2007 2:28:41 PM
Creation date
9/14/2005 1:54:22 PM
Metadata
Fields
Template:
Contracts/Agreements
Agreement/Contract Type
Development Contract
Contracts/Agreements - Department
Community Development
Purpose/Title
Roseville Twin Lakes, LLC
Contracts/Agreements - Planning File #
3595
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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 of the 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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