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2004_0315_Packet
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2004_0315_Packet
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(vii) Approval of the Redevelopment Agreement for the redevelopment of the <br />Redevelopment Area. <br />(viii) Recommend changes to City ordinances to facilitate redevelopment <br />consistent with the Master Plan. <br />12. Discretionar� Actions. Redeveloperunderstands 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 the 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 RedevelopmentAgreement that the Redeveloperreimburse the City for the following (a) <br />the lesser of (i) one-half of the cost incurred by the City for the Stakeholder Advisoryprocess, or (ii) <br />$35,000; and (b) the lesser of (i) one-half of the costs incurred by the City for the TIF districting <br />(including costs incurred for blight studies), or (ii) $25,000; and (c) the costs incurred by the City for <br />preparing and negotiating the RedevelopmentAgreement in an amount not to exceed $50,000 (any <br />costs in excess of $50,000 for this item (c) shall be paid by the City). In the event the City and <br />Redeveloper determine to abandon the Proj ect prior to signing a Redevelopment Agreement then <br />each party shall be responsible for its own costs and Redeveloper will not be responsible for any <br />reimbursements to the City set forth in this Section 13. <br />14. Term of Ameement. This Agreementfor exclusive negotiations shall be binding upon <br />the parties until March 31, 2005 (the "Term"). This instrument may be extended by the mutual <br />consent of both parties. This Agreement shall be binding upon the parties and their respective <br />successors and assigns during the duration of the Term of the exclusive negotiation period. <br />Redeveloper may terminate this Agreement upon thirty (30) days' written notice to the City in the <br />event that Redeveloper determines that the Redevelopment is not feasible. The City and the <br />Redeveloper may mutually agree in writing to terminate this Agreementprior to the expiration of the <br />Term in which event this Agreement shall become null and void and of no further force or effect as <br />of the date of such written Termination signed by both the City and Redeveloper. <br />15. Citv Use of Work Product. Redeveloper shall make available to the City for its <br />unrestricteduse at no cost to the City all non-proprietarywork product, including market analyses, <br />soil and engineering reports, geo-technical reports, infra-structure construction budgets (but <br />excluding construction budgets specific to proposed improvements), research materials and other <br />documentation produced specifically for the Redevelopment Area. <br />16. Third-Partv Inquiries. The City shall refer all third-party inquiries regarding use, <br />availability, and redevelopmentpotential of the RedevelopmentArea to Redeveloper. <br />17. Notices. Any notice required or permitted under this Agreement by eitherparty to the <br />other shall b e sufficiently given or delivered if it is dispatched by registered or certified mail, postage <br />prepaid, return receipt requested, transmitted by facsimile, delivered by a recognized overnight <br />courier or delivered personally to the following addresses: <br />
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