Agenda - Council - 06/08/2004 - Laserfiche WebLink

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thc post m,trltcd date of the warning the reports are not made, the Developer a3rces to pay to the City a penalty of $100 for each subsequent day m~ti[ thc report is filed up to a maximum of $3,000. (ix,) The Dcvclol,eJ ~tgrees to continue operations consisting of the Minimum [mprovenae~ts on the Development Property for at least five (5) years after the Bcm~'fit l)ate. With the exception of financing provided by SBA or the Department of Employment and Economic Development (DEED), there arc ~o othc~' state or local government agencies providing financial assistance fo~- thc Project other than the City. tv) Thcrc is no parent corporation or other entity of the Developer. Thc Developer shal pay to the City all of its legal and administrative expenses Ilmt arc incurred by the City in association with the project within 15 days of a wriitcn notice by thc City indicating the legal and administrative expenses that are ctm'ently duc and or'lng in an amount not to exceed $5,000.00. (k) Idntil thc Maturity Date the Developer shall operate the Minimum Improvements manufacturing (~' warehousing, storage and distribution facility. Scctio~ 2.2. By the Cit'~. ~1 h,', City makes the following representations as the basis for the tmdcrtaking o~ its part hcl'ein c( ntained: (a) Thc City is aLithoriwcxi by law to enter into this Agreement and to can'y out its obli,,4ations horeLmdc-~'. (b) Thtz City has £ound that the TIF District is an "redevelopment tax increment iina~]cing district," p~/rsuant to M.S. § 469.174. (c) 'l'hc City will, in a ti ncly manner, subject to all notification requirements, review amd act upon all sub~nittals and applications of the Developer, and will cooperate with the ¢ffort~ of the Oeveloper to secure the granting of any permit, license, or other' approval requi~ cci, to allow the construction of the Minimum Improvements; prox i(tcct, however, that nothing contained in this subparagraph shall be construed to limit in any way t i~e reasonable and legitimate exercise of the City's discretion in cc)nsidering any st~bn]ittal or application. 'l'hc activilics off tlc (:ity are undertaken for the pm-pose of fostering the mdc velopmem of ce~ faith real property which, for a variety of reasons, is presently unutilized and und-:rtttilized and for the purpose of promoting economic dcw:topm ent and the creation of employlnent opportunities. Thc (;ity will ~;oope~ ate with the Developer with respect to any litigation, other tlm~ litigation in x4]ich the City and the Developer are adverse parties, com~cnced with resl~ect to the TiF Plan, Program, or Minimum Improvements.