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WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat to <br />be constructed without tax increment assistance on the part of the CITY; and <br /> <br /> WHEREAS, no expenditure of CITY funds will be made until the relevant City Code <br />escrow requirements have been completed by the DEVELOPER. <br /> <br />NOW, THEREFORE, the CITY and DEVELOPER agrees as follows: <br /> <br /> SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br />City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER <br />developing the .Plat in accordance with the applicable provisions of City Code, Section <br />9.50, entitled Subdivision. <br /> <br />Conformance with Plan. The Plat shall be developed pursuant to the Final Plat Plan <br />consisting of one (1) sheet, prepared by Carley Torgersen, Inc. entitled Basalt Office Park. <br /> <br />Incorporation of All City Code Requirements. That the recitals above and the <br />applicable provisions of the City Charter, Subdivision Code, Zoning Code and Public <br />Improvement Code of the CITY, as amended to date hereof, are incorporated herein by <br />reference. <br /> <br />Planned Unit Development Conditions: The DEVELOPER and CITY herein agree <br />that the conditions placed upon the Plat as a Planned Unit Development shall consist of <br />the following: (a) the development of a max-imum of two main buildings shall be allowed <br />on Lot 1, Block 1; (b) a reduced rear yard setback of 26 feet shall be applicable to the <br />northerly building constructed on Lot 1, Block 1;. (c).~l other.performance standards and <br />permitted uses shall be as established in the underlying ZOning district. <br /> <br />Stage II Improvements Required. There are no Stage II Improvements, as defined by <br />City Code, associated with the Plat. <br /> <br />Payment of Sewer and Water Trunk Charges. Sev)er and water trunk charges shall be <br />addressed in the Tax Increment Financing Contract for Private Development. <br /> <br />Stormwater Management Fee. The Stormwater Management Fee shall be address in <br />the Tax Increment Financing Contract for Private ~evelopment. <br /> <br /> SECTION II <br />STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES <br /> <br /> <br />