Agenda - Council - 07/13/1999 - Laserfiche WebLink

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(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, in a timely manner, will 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 pertnit, license, or other approval required, to allow the construction of the Minimum Improvements; provided, however, that nothing contained in this Section 2.2 shall be construed to limit 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 Impro:'ements. (g) The Development Property is properly zoned for the Developer's intended use and the Minimum Improvements contemplated by the construction Plans are in conformity 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 environmental law, regulation or review procedure. (i) The City will provide the following fmanciat assistance to the Developer of the Development Property. This assistance will be a total of Three Hundred Eleven Thousand Fift~-two and 00/100 Dollars ($311,052.00). The financial assistance from the City shall be based upon the following calculations: Provision of Site and City Development Fees Site Improvements Total Value of Assistance $ 52,341.00 $ 258,711.00 $ 31I~052.00 Section 2.3. Obligations on ClosingDate. deliver to the Developer: (a) The Assessment Agreement. (b) The Agreement to Pay Deficiencies. At the Closing, the City shall execute, where appropriate, and At the closing, Developer shall execute, where appropriate, and deliver to the City: (a) (e) The Developer Permit in the form attached. The Assessment Agreement. The Agreement to Pay Deficiencies. Page 6 I $1 I I I i I I I I I