Agenda - Economic Development Authority - 12/01/2003

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process. When the City completes its design process for each phase Of the City Roadway Improvements and before the City commences construction of that phase, the City will provide the Developer with copies of plans and specifications showing the City's design for that phase and'will inform the Developer that the plans represent the final desi~zn plans upon which the City intends to 'base its public bid specifications. The Developer shall have 10 days from the receipt of the City's final design plans to provide final comments to the City. Street layout and right-of- way width must conform to the Master Development Plan unless the Council approves ... modifications to the layout and right-of-way widths pursuant to the RTC Ordinance. 7.2 CONDITIONS PP-,,ECEDENT TO TIlE CITY'S CONSTRUCTION OF THE CITY PHASE I ROADWAY IlvEPROVEMENTS. The City is not obligated to issue the bonds described in Section 7.5 or commence construction of the City Phase I Roadway Improvements until: (a) the Developer has substantially Completed the mass grading described in Section 10.1 pursuant to the Master Grading Plan; the Developer has provided the City with and the City has approved a detailed landscaping plan' specifically describing the landscz~pj_ng which the Developer will construct and install within or adjacent to the ngZnts-of-way for the City Phase I Roadway Improvement (the "Phase I Landscape Plan"). The Phase-I Landscape Plan must identify a commencement date for the Developer's performance of the · work described in the Phase I Landscape Plan. The commencement date may be stated as a number of days following the City's substantial cornpletion of the City Phase I Roadway Improvements (exclusive of the installation of the final lift). The Phase I Landscape Plan must algo establish a specific completion date for the Developer's performance of the work described in the Phase I Landscape Plan. The completion date may be stated as a number of days fi-om the commencement date. The Developer will not be deemed to have satisfied th_is condition until the City. has approved the Phase I Landscape Plan; the Developer has delivered a letter of credit to the City in an amount equal to 125% of the City's reasonable estimate of the cost of performing the work described in the Phase I Landscape Plan. . , 7.3 COMMENCEMENT A_ND COMPLETION OF THE CITY PHASE I ROADWAY 12vPROVEMENTS. Subject to Force Majeure, the City must commence construction of the City Phase I Roadway Improvements upon the later of the Deve!oper's satisfaction of each of the conditions described in Section 4.2 and 7.2 or May 3-1~, 2004. Subject to Force Majeure, the City. must substantially complete construction of the City Phase I Roadway Lmprovements within 12 months of the date the City is obligated to commence the City Phase I Roadway Improvements pursuant to the preceding sentence (the "City Phase I Roadway improvements Substantial Completion Date"), and must install the final lift of the City Phase I Roadway Improvements within 6 months following the City Phase I Roadway Improvements Substantial Completion Date; provided, however, if the City Phase I Roadway Improvements Substantial Completion Date is on or after November first of any year, the City. is not obliggted to install the final lift on the City Phase I Roadway Improvements until June first of the