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2006-11-21_Agenda
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2006-11-21_Agenda
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Commission/Committee
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Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Type
Regular
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(c) other terms and cond itions of this Agreement. <br /> <br /> 2. It is the intention of the parties th at this Agreement: (a) documents the present <br />understanding and commitments of the parties; and (b) will lead to negotiation and execution of a <br />mutually satisfactor y Contract for the Redevelopment prio r to the termination date of this <br />Agreement. The Contract (together with any other agreements entered into between the parties <br />hereto contemporaneously therewit h) when executed, will supersede all obligations of the parties <br />hereunder. <br /> <br /> 3. During the term of this Agreement, the Developer shall: <br /> <br /> (a) By , submit a Proposal to the Authority, which <br />Proposal must show the location, size, and na ture of the proposed Redevelopment, including <br />sample floor layouts, renderings , elevations, and other graphic or written explanations of the <br />Redevelopment. The Proposal shall be acc ompanied by a preliminary schedule for the <br />starting and completion of all ph ases of the Re development. <br /> <br /> (b) Submit an over-all co st estimate for the design and construction of the <br />Redevelopment. <br /> <br /> (c) Submit a final ti me schedule for all phases of the Redevelopment. <br /> <br /> (d) Undertake and obtain such other preliminary economic feasibility studies, <br />income and expense projections, and such ot her economic informati on as the Developer <br />may desire to further confirm the economic feasibility and soundness of the Redevelopment. <br /> <br /> (e) Submit to the Author ity the Developer's financin g plan showing that the <br />proposed Redevelopment is financially feasible. <br /> <br />(f) Furnish satisfactory, financial data to the Authority evidencing the Developer's <br />ability to undertake the Redevelopment. <br /> <br /> 4. During the term of this Agreement, the Authority agrees to: <br /> <br /> (a) Commence the process necessary to undertake such public assistance as is <br />necessary pursuant to the terms of the Proposal. <br /> <br /> (b) Proceed to seek all necessary info rmation with regard to the anticipated <br />public costs associated w ith the Redevelopment. <br /> <br /> (c) Estimate the Authority's level and method of financial participation, if any, <br />in the Redevelopm ent and develop a financial plan for the Authority's participation. <br />
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