Agenda - Council - 05/11/1999 - Laserfiche WebLink

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I I I I I I i I I I I I I I I Section &l A.ssessme~ A_ereemeut. The C~ a~l th~ Developt~- zhall ex~"u~ ~e'~~ Agreement a~d C. efdfcafio~ et'County Assessor ~ in Exhibit D of this A4recmen~. The City shall thru pr~se~ th~ ~~ leSS *__h~n Oue Mll]iola 011¢ I'I!mdred Thollsalld and 00/1 O0 Dollar~ ($1,100,000.00). The mark~ ~ so established may, (1) It va]l ~o~ see~ adminislxative ~i~.v cr judicial ~-'~iew of ~h¢ at~cabiliw of aay IXOlX~ ~ ~ ~ de~emfin~! by' any t~ official to tn applicable to tlz Deve. lopmen~ Prvtn~ cr the Developer, or raise tlz .a~alizab~ty of (2) It ~ no~ seek ,,,t-,i,,k.t~v¢ ~ or judicial ~ of the c,a~tuficmlity o£ aay such dr~u~d by a~ lax o, flicial ~o b~ aFplicable to fl~e De~opm~~ oreo ~ ~~, or ~ ~ ~~~ (3) II will no~ request the ass~___~_ tc reduce Ibc as.scs.sed ~et value or tax capacity of all ~ ~ ~ ~ (4) It will not pelifion t~ board of equalizai~m of the City ex tt~ board of equalization tithe co~ to xedu~ the assessexl m~keX valtm ortax capacity of all or any pc~ioa of~' Development ~; (7) It will not make ~ applica~i~ to thc l, faxmesom c~,~,'ioner of r,evmue ~ a~ ab',aem~ of~ prolxxty taxes pursu~ to ~o~ Statu~ ~ 270; c.-,-~ .ed in the As.sessme~t Agreem~ provi~t, however, rt~ax rtz ~ may not iasfitu~ or proseo.~ my dmlleage to ~ excess whiclx, if~ would also remlx ia a reductio~ oftt~ assessm~mt below ~a~ sfipulz~ ~ Further, nOfll~ m'~m~ned ha ehM1 '0~ ~ lO limit ~ light or ~ of file Developer to c_l~lle~c thro~ any O£the means sa/'orth above, or otherwise,.tl~ tax capacity ~tlz I)evdopme~ ~; provided, however, tl~ Developer may no! ix~ or prosel~g al~ $tlr. h challenge for my year to tl~ ~ that, ii'~ such ch~llenge wc~ld ~_~ the Net Tax Inm:m~t ge~exa~ by the Development Pwpeny for such year ~o be less fl~n. Twex~y Thousand md 00/100 Dollars (SaO,O00,O0). 17