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Draft 3/22/95 <br /> <br /> Section 2.2 .By the Ci~. The City makes the following representations as the basis for <br />the undemking on its part herein contained. <br /> <br /> (a) The City is authorized by law to enter into this Agreement and to carry out its <br />obligati6ns hereunder. <br /> <br /> ~b) The City has found that the TIF District is a "redevelopment tax increment financing <br /> district," pursuant to Minnesota Statutes, Section 469.174. <br /> ? <br /> lc) The City will, in a timely manner, subject to all notification requirements, review <br /> and act npon all submittals and applications of the Developer, and will cooperate with the efforts of <br /> the Developer to secure the granting of any permit, license, or other approval required to allow the <br /> construction of the Minimum Improvements, provided, however, that nothing contained in this <br /> subparagraph shall be conswaed to limit in any way the reasonable and legitimate exercise of the <br /> 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 />redeveIopment of certain real property which, for a variety of reasons, is presently unutilized and <br />unden~ilizecl and for the purpose of promoting economic development and the cre&tion of <br />employment opportunities. <br /> <br /> (f) The City will cooperate with the Developer with respect to any litigation, other than <br />litigation in which the City and the Developer are adverse parties, commence with respect to the <br />· TIF Plan, Program, or Minimum Improvements, provided that the City shall not be obligated to <br />incur ~oSts through the retaining of legal counsel or experts, or otherwise, in connection with such <br />litigation. <br /> <br /> - (g) The City will provide the following financial assistance, to the Developer of the <br />Development Property. This assistance will be a total of Sixty-three Thousand Five Hundred <br />Sixty-nine Dollars and Eighty-six cents ($63,569.86). The financial assistance from the City shall <br />be based upon the following calculations: <br /> <br /> Trunk Utilities Extension and Site Acquisition $ 33,569.86 <br /> ~ Road Construction $ 30,000.00 <br /> <br />Page 6 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />