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2004_1018_Packet
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2004_1018_Packet
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increment and other potential sources of public assistance, to determine the <br />necessary public investment in the Redevelopment. <br />(ii) Establishment or modification of the Proj ect Arca and tax increment districts, <br />or utilization of tax abatement. <br />(iii) Review of the AUAR to determine conformity with the Master Plan. <br />(iv) Zoning, subdivision and/or any other planning approvals. <br />��) Acquisition of land vatl� the Redevelopment Area by voluntary purchase <br />and/or condemnation. <br />(vi) Construction of public improvements to serve the Redevelopment. <br />(vii) Approval of the Redevelopment Agrccment for the redevelopment of the <br />RedevelopmentArea. <br />(viii} Recommend changes to City ordinances to facilitate redevelopment consistent <br />witln the 1�' Plan. <br />12. Discretiona , Ac 'ons. Redeveloperunderstandsthat many of the actions which the <br />City inay be called upon to take require the reasonable discretion and, in some instances, the <br />legislative judgm�nt �f �� �i�y. S�ch �ctiams ma3+ be rnade only followingestablished procedures <br />— �d #]y� �il nol � �, a� m sdvan� � any specific decision in such matters. <br />��, �.eig��urse�ments. The parties agree that it shall be a precondition of the City to <br />signing the Redevelopment Agreement that tlle Redeveloper reimburse the City for the following: <br />(a) tlse lesser of (i) one-hallf of the cost incurred by the City for the StakeholderAdvisory process, <br />or (ii) $35,000; �ri� (b) the lesser of (i) one-hal,f of the costs in,cut�red by t�c City for the TZF <br />districting (including costs incuired for blight studies), or (ii) $25,000; and (c) the costs incurnd 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 $50,000 for this item (c) shall be paidby the City). In the event the <br />City and Redeveloperdetermine to abandon t�,� Projectprior to si�vrr� a RedevelopmentAgreement <br />11��tt each 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 />- 1�, ���f.��n�rrt_ �ject to the last paragraph of Section 7(a), this Agreement <br />for exclusive negotiations shall be binding upon the parties until NL�'h 31,2005 (the "Term'�: 'Illis <br />instrument may be extended by the mutual consent of bothparties. This Agreementshall be binding <br />upon the parties and their respective successors and assigns during the duration of the Term of the <br />exclusive•negotiation 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 Redevelopermay mutually agree in writing to terminate this Agreement <br />l��T ��� expiration of the Term in which event this Agreement shall become null and void and <br />� ��� � �� � � <br />
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