Laserfiche WebLink
Section 2.2. By the City. The City makes the following representations as the basis for the <br />undertaking on its part herein contained: <br /> <br />(a) <br /> <br />The City is authorized by law to enter into this Agreement and to carry out its obligations <br />hereunder. <br /> <br />(b) <br /> <br />The City has found that the TIF District is a "redevelopment tax increment financing <br />district," pursuant to M.S. § 469.174. <br /> <br />(c) <br /> <br />The City will, in a timely manner, subject to all notification requirements, review and act <br />upon all submittals and applications of the Developer, and will cooperate with the effbrts <br />of the Developer to secure the granting of any permit, license, or other approval required, <br />to allow the construction of the Minimum Improvements; provided, however, that <br />nothing contained in this subparagraph shall be construed to limit in any way the <br />reasonable and legitimate exercise of the City's discretion in considering any submittal or <br />application. <br /> <br />(d) <br /> <br />The activities of the City are undertaken for the purpose of fostering the redevelopment <br />of certain real property which, for a variety of reasons, is presently unutilized and <br />underutilized and for the purpose of promoting economic development and the creation <br />of employment opportunities. <br /> <br />(e) <br /> <br />The City will cooperate with the Developer with respect to any litigation, other than <br />litigation in which the City and the Developer are adverse parties, commenced with <br />respect to the TIF Plan, Program, or Minimum Improvements. <br /> <br />(f) <br /> <br />The Development Property is properly zoned for the developer's intended use and the <br />Minimum Improvements contemplated by the Construction Plans are in conformity with <br />the Program and TIF Plan. <br /> <br />(g) <br /> <br />The City has received no notice or communication from any local, state or federal official <br />that the activities of the Developer or the City in the Development District may be, or <br />will be, in violation of any environmental law or regulation (other than those notices or <br />communications of which the Developer is aware). The City is aware of no facts, the <br />existence of, which would cause it to be in violation of, or give any person a valid claim, <br />under any local, state or federal environmental law, regulation or review procedure. <br /> <br />(h) The City will provide the Financial Assistance to the Developer determined as follows: <br /> <br />Trunk Charges and Development Fees <br />Site Improvement Soil Con'ection Reimbursement <br />Total Assistance (The "Financial Assistance) <br /> <br />$49,974 <br /> $125,026 <br /> $175,000 <br /> <br />The financial assistance will be provided in two phases. $124,974 in financial assistance <br />will be provided "up-front" in phase 1. The $124,974 will consist of payment of the <br />Trunk Charges and Development Fees and a payment of $75,000 to the Developer for <br />Site Improvement and Soil Correction costs. Two years following the completion of the <br />Project during phase 2 of the financial assistance the city will pay to the developer a sum <br />of $25,000 per year for a period of no more than two years totaling no more than <br />$50,000. In no event shall the Financial Assistance provided by the City to the <br />Developer exceed $175,000. <br /> <br /> <br />