Laserfiche WebLink
increment and other potential sources of public assistance, to deternlin� the <br />necessary public investment in the Redevelopment. <br />[ii � �stablislunent or modification of the Project Area and tax increment districts, <br />— or utilization of tax abatement. <br />�i i� Review of the AUAR to determine conformity with the Master Plan. <br />�i�+ f Zoning, subdivision and(or any other planning approvals. <br />i�� ) Acquisition of land within the Redevelopment Area by voluntary purcl�ase <br />and/or conden7nakion. <br />� k� i] Construction of public improvements to serve the Redevelopment. <br />v: iY� Approval of the Redevelopment Agreement for the redevelopment of the <br />Redevelopment Area. <br />;•. ���; �Zecan�n�nd changes to City ordinances to facilitate redevelopment consistent <br />with the Master Plan. <br />12. Discretiona�v Actions. Redeveloper understands that many of the actions which the <br />City may be called upon to take require the reasonable discretion and, in some instances, the <br />legislative judgment of the City. Such actions may be made only following established procedures <br />and :l ��- City may not, by agreement, agree in advance to any specific decision in such matters. <br />13. Reimbursements. The parties agree that it shall be a precondition of the City to <br />signing the Redevelo�an�ent Agreement that the Redeveloper reimburse the City for the following: <br />(a) the lesser of (i) one-half of the cost incurred by the City for the Stakeholder Advisory process, <br />or (�i) $35,000; and (b) the lesser of (i) one-half of the costs incurred by the City for the TLk' <br />distz-icti� g(including costs incurred for blight studies), or (ii) $25,000; and (c) the costs incurred by <br />the City for preparing and negotiating the Redevelopment Agreement in an amount not to exceed <br />$50,000 (any costs in excess of $50,400 for this item (c) shall be paidby the City). In the event the <br />City a�IC� Redeveloper detennine to abandon the Proj ect prior to signing a Redevelopment Agreement <br />then eacll party shall be responsible for its own costs and Redeveloperwill not be responsible for any <br />reimbursements to the City set forth in this Section 13. <br />14. Term of Agreement. Subject to the last paragraph of Section 7{a), this Agreement <br />for exclusive negotiations shall be bindinguponthe parties until March 31,2005 (the "Terzn"). This <br />instrument may be extended l�y the mutual consent of both parties. This Agreement shall be binding <br />upon the parties and their respective successors and assigns during the duration of the Term of the <br />exci�isive��egotiat�on period. Redeveloper may terminate this Agreement upon thirty (30) days' <br />written notice to the City in the event that Redeveloper determines that the Redevelopment is not <br />feasible. The City and the Redeveloper may mutually agree in writing to terminate this Agreement <br />prior to the expiration of 3h� Term in which event this Agreement shall become null and void and <br />�� <br />