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Agenda - Economic Development Authority - 09/03/2015
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Agenda - Economic Development Authority - 09/03/2015
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3/18/2025 10:11:56 AM
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9/9/2015 9:28:20 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
09/03/2015
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manner, all requirements of all applicable local, state, and federal laws and regulations which <br />must be obtained or met before the Project may be lawfully constructed. <br />(5) Neither the execution and delivery of this Agreement, the consummation <br />of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and <br />conditions of this Agreement is prevented, limited by or conflicts with or results in a breach of, <br />the terms, conditions or provision of any contractual restriction, evidence of indebtedness, <br />agreement or instrument of whatever nature to which the Developer is now a party or by which it <br />is bound, or constitutes a default under any of the foregoing. <br />(6) The Developer will cooperate fully with the City with respect to any <br />litigation commenced with respect to the Project. <br />(7) The Developer will cooperate fully with the City in resolution of any <br />traffic, parking, trash removal or public safety problems which may arise in connection with the <br />construction and operation of the Project. <br />(8) Construction shall begin by October 31, 2015 and the construction of the <br />Project will be substantially completed by October 31, 2016, subject to Unavoidable Delays. <br />(9) The Developer acknowledges that Tax Increment projections contained in <br />the Tax Increment Financing Plan are estimates only and the Developer acknowledges that it <br />shall place no reliance on the amount of projected Tax Increments and the sufficiency of such <br />Tax Increments to reimburse the Developer for a portion of the costs of the acquisition of the <br />Development Property and the construction of the Site Improvements as provided in Article III. <br />(10) The Developer shall acquire the Expansion Property, demolish the existing <br />facility and cap all unsealed wells on the Expansion Property on or before <br />Draft Document, Changes will occur 5 <br />7226735v1 <br />
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