2005_0425_Packet - Laserfiche WebLink

Home

The City wi11 have the right to decline to approve the Minimum Improvements if it appears to the City that the total market value of the Minimum Improvements wi11 not be at least 90% of the total market value projected in the Redeveloper's pro forma. The City wi11 not reject the Minimum Izr�provements if the Redeveloper demonstrates to the City's reasonable satisfaction that the market wi11 not support the product set forth in the Redeveloper's pro fnrma. Capitalized Interest: Capitalized interest during the construction period and costs of issuance of any City public improvement or special assessment bonds and TI Revenue Bonds wi11 be tax increment eligible expenses. Grants, Responsible Parties: The Redeveloper and City wi11 cooperate and use their best efforts to recover costs of environmental remediation from responsible parties and wi11 also seek grants from the State of Minnesota, Metropolitan Council, DEED or other available public funds. Subject to reimbursement as Eligible Costs within the limitations set forth herein, the Redeveloper wi11 advance costs that were expected to be defrayed by grants that are not received. Government Approvals: The Redeveloper and City wi11 cooperate and use their best efforts to obtain a11 necessary government approvals. 3'�rr�711�+�. The Redeveloper wi11 comply with a11 applicable City building codes and construction requirements. The Redeveloper wi11 pay normal permit, plan review, utility access and park dedication fees and wi11 be responsible for obtaining a11 building, plumbing, electrical and mechanical permits prior to construction. City fees (infrastructure, impact, permits, other) are set forth on Exhibit C. Zoning and Land Use Approvals/Easements Special Assessments: Park Dedication Fee1 Public Open Space Contrib. Normal and customary site and building plan review requirements wi11 be followed. The Redeveloper wi11 pay for rezoning, subdivision, platting, plat amendment, PUD and preparation of restrictive covenants, easements, reciprocal easements, and any other documentation necessary for the construction and sale :ti f the Minimum Improvements. The Redeveloper wi11 be responsible for obtaining a111and use and zoning approvals. The Redevelopment Agreement wi11 specify the amount and purpose, if any, of special assessments to be levied against the Redevelopment Property. The 1eve1, amount and distribution of park dedication fees associated with the Project wi11 be substantially in conformance with Roseville City Code S�c. 1103.07 and wi11 be set forth in the Redevelopment Agreement. ��