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-60- <br /> <br />(4) <br /> <br />The Developer agrees to continue operations on the Development Property <br />for at least five (5) years after the Benefit Date. There are no other state or <br />local government agencies providing financial assistance for the Project other <br />than the City. <br /> <br />The: asse~se'd '~al'ue '0f th'e <br /> <br />Con, pie,'on. - If'the'- <br /> <br /> Section 2.2 Bv the City. The City makes the following representations as the basis for <br />the undertaking on its part herein contained: <br /> <br /> (a) The City is.'~uthorized by law to enter into this A~eement and to carry out its <br />obligations hereunder. :-~ <br /> <br /> (b) The City has found that the TIF District is a "redevelopment tax increment <br />financing district," pursuant to M.S. §469.174. <br /> <br /> (c) The City will, in a timely maturer, subject to all notification requirements, review <br />and act upon ail submittals and applications of the Developer, and will cooperate with the efforts <br />of the Developer to secure the granting of any permit, license, or other approval required, to <br />allow the construction of the Minimum Improvements; provided, however, 'that nothing <br />contained in this subparagraph shall be construed to Emit in any way the reasonable and <br />legitimate exercise of the City's discretion in considering any submittal or application. <br /> <br /> (d) The activities of the City are undertaken for the purpose of fostering the <br />redevelopment of certain real property which, for a variety of reasons, is presently unutilized and <br /> <br />I <br />! <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br /> <br />