08/22/94 - Laserfiche WebLink

Home

10. 12. 13. developent. The first phase will be constructed at 26,420 square feet. Each subsequent phase will have an estimated market value for tax purposes of $32.17 or ~eater per square foot. The City agrees to provide reimbursement toward infrastructure and site improvements using a basis of $1.00 per year per square foot of structure built for the years 1996 through 2002. The reimbursement will be pursuant to an amortization between 1996 and 2002 with the principal amounl increased by interest at an annual rate of 7%. in return, the Permitme agrees to offer the City ratification opportunity for all lease and other tenant agreements. Said City ratification shall not be unreasonably withheld. The Pem-dttee also agrees to positS'on for and waive ail notices and hearings for any public improvements proposed pursuant to this permit. PUBLIC IMPROVEMENTS. The Permittee water trunk charge in 1994 is Twenty Eight Thousand Five Hundred Twenty Dollars and no cents ($28,520.00) on Lot 1, Block ], Rams%, 67 ~lndusmal Park. The sewer trunk charge is Twelve Thousand Eight Hundred Fifteen Do!j~s a, nd no c~nts ($12,815.00). The Pem-fi;f,(.~e sna~.,mx'teno water eno sewer utifities ~rom meir existing location in me Oalmd~e~u6'd-i¼.si~a to the east property line of the development site or such other location within the development site designated by the City Engineer. The City shall credit the Permittee for utility extension costs against trunk fees between existing locations and the wesmm property line of the development site. The Perrnittee recognizes that the development site does not have the benefit of an improved street along the eastern property line. The Permittee hereby petitions for the public improvement of utilities and roadway construction of Uranium Street N.W. and waives fights to the public improvement hearing for said improvement. The Permittee further recognizes that said future public improvement may cause regrading of a portion of the development site to match the elevation of Uranium Street N.W. PHASING PLAN. The development shall occur in two (2) phases. REQUIREMENTS FOR BUILDING PERMIT. No building permit for the S~te will be issued until: 1) the perrnittee has signed and returned this Development Permit, and 2) Cash or a Letter of Credit is deposited with the City in an amount equal to 150% of the City Engineer's estimated cost of the Required Improvements. No Certificate of Occupancy for occupancy of the Structure will be issued until the Required Improvements are accepted by the City. IMPROVEMENT CONSTRUCTION SCHEDULE. The Required Improvements for Phase I shall be constructed and installed on or before November 15,1994. Phase II will be subject to review if not constructed within 24 months of the date of this Agreement. ESCROW. In order to insure the installation of the Required Improvements in accordance with City specifications and in a timely manner, the Permittee shall be required to deposit with the City a cash escrow or letter of credit approved by the City, in the amount of Dollars ($ ), which is 150% of the City's estimated cost of the Required Improvements. Upon completion of the construction of the Required Improvements, as certified by the City Engineer, the escrow shall be returned to Permitteel- in the event Permittee fails to construct and install the Required Improvements as required herein, the City may complete the Required Improvements with City da), labor and/or by letting contracts for said completion and draw upon the escrow for payment. Permittee hereby ~ants permission and a license to the City and/or its contractors and assigns to enter upon the Site for the