Agenda - Council - 01/23/2001 - Laserfiche WebLink

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I I I I I I I I I I I I I goven:unent agencies providing financial assistance for the Project other than the City. Section 2.2 By the City. The City makes the following representations as the basis for the undertaking on its part herein contained: (a) The City is authorized by law to enter into this Ageement and to carry out its obligations hereunder. (b) The City has found that the TIF District is a "redevelopment tax increment financing district," pursuant to M.S. §469.174. (c) The City will, in a timely manner, subject to all notification requirements, review and act upon all submittals and applications of the Developer, and will cooperate with the efforts of the Developer to secure the granting .of any permit, license, or other approval required, to allow the construction of the' Minimum Improvements; provided, however, that nothing contained in this subparagraph shall be construed to Emit in any way the reasonable and legitimate exercise of the City's discretion in considering any submittal or application. (d) The activities of the City are undertaken for the purpose of fostering the redevelopment of certain real property which, for. a variety of reasons, is presently unutilized and underutilized and for the purpose of promoting economic development and the creation of employment opportunities. (f) The City will cooperate with the Developer with respect to any litigation, other than litigation in which the City and the Developer are adverse parties, commenced with respect to the TIF Plan, Program, or Minimum Improvements. (g) The Development Property is properly zoned for the developer's intended use and the Minimum Improvements contemplated by the construction Plans are in confon-nity with the Program and TIF Plan. (h) The City has received no notice or communication from any local, state or federal official that the activities of the Developer or the City in the Development District may be, or will be, in violation of any environmental law or regulation (other than those notices or communications of which the Developer is aware). The City is aware of no facts, the existence of, which would cause it to be in violation of, or give any person a valid claim, under any local, state or federal enviromnental law, regulation or review procedure. (i) The City will provide the following financial assistance to the DeveloPer of the Development Property. This assistance will be a total of $464,151. The financial assistance fi'om the City shall be based upon the following calculations: -70-