Agenda - Council - 09/12/1995 - Laserfiche WebLink

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I I I I i I I I I I I I I I I I I I I 8. TAX INCREMENT FINANCING. Upon receipt of a Certificate of Occupancy for the stru0ture, the City agrees to provide the Permittee with financial assistance in the amount ~,f Seventy-three Thousand Five Hundred Sixty-nine Dollars and Eighty-six cents ($73,569.86). The financial assistance from the City shall be based upon the following calculations: Trunk Utlifies Extension and Site Acquisition $ 33,569.86 Road Colastmction $ 30,000.00 Site Imp :l'ovements $ 10,000.00 9. FINANCIAL ASSISTANCE. The City shall be responsible to provide financial assistand, e listed in Paragraph 8 at the time that a Certificate of Occupancy is issued for the project. ~rl'his assistance will be recovered by the City through Tax Increment received from the prol~rty taxes over the period of years 1998 to 2012. 10. REQUIREMENTS FOR BUILDING PERMIT. No building permit for the Site will be i~sued until the permittee has signed and returned this Development Permit. At the time of building permit issuance, all plan check fees, state surcharges, permit fees and sewer af~d water access charges shall be paid in full. No Certificate of Occupancy for occupancy of the structure will be issued until the Required Improvements are accepted by the City., 11. IMPROVEMENT CONSTRUCTION SCHEDULE. The Required Improvements shall be Completed before April 30, 1996. 12. ESCROW. The City and Permittee herein agree that the standard forms of financial guarant~ to ensure the installation of the Required Improvements are hereby waived. The Permitte~e herein agrees that the financial assistance from the City to the Permittee, describegJ~ in Paragraph 8 of this Permit, shall serve as financial guarantee that the Required Improvements will be installed in accordance with City specifications and in a timely manner, i In the event the Permittee fails to construct and install the Required Improvements as requi~ed herein, the City may complete the Required Improvements with City day labor and/or Hy letting contracts for said completion, and deduct the cost of same from the financia~ assistance payments to the Permittee described in Paragraph 9 of this Agreement. 13. RECOI~NITION OF LOCATION. As a continuance of the economic development efforts eJtpended between the City and the Permittee in conjunction with the development of this sitq the Permittee herein agrees to recognize Ramsey as the City of location on all forms o8 advertising and business correspondence. The monument sign at the entrance to the facil!ty shall identify the City of Ramsey as the Company location. DeLalley Ente~rises, Inc. hereby acknowledges receipt of this permit and that they have reviewed the conditions of this permit and have agreed that they will comply with the terms of this permit.