Agenda - Council - 03/08/2005 - Laserfiche WebLink

Home

(iv) (v) a waming Within~on~w-e¢~ ~f the required filing date. If within 14 days of the post marked d~¢:of ,the warmng the reports are not made, the Developer :~ees to~l~aY Rd the City a penalty of $100 for each subsequent day until th~:reP0rtis!filediiip to a maximum of $3,000. The Devel01~er agree~; ;to §ontinue operations consisting of the Minimum ImproVemelils or/~th¢iDe~¢lOpment Property for at least five (5) years after the Benefit ~ate~. ~W. ii h:th~ ~xception of financing provided by SBA or the Department'.of Empiiiyment and Economic Development (DEED), there are no othi~r' state~ Dr.'~ioCal government agencies providing financial assistance f~t the ;P~r0jeeti°~her than the City. There is no parent co~0rafi0n or other entity of the Developer. 0) The Developer shat! pay to ~th¢ :city all of its legal and administrative expenses that are recurred blt the C~ m assocmt~on with the prolect w~th~n 15 days of a written notice by tl~ citY indicating the legal and administrative expenses that are currently due and o~ing in afl. ~mio~Ttnt not to exceed $5,000.00. (k) Until the Maturityi~ateifhe!DeVel~Per shall operate the Minimum Improvements · ' J , '~' ~i ri, ~ ,L ~ , .... as a manufacturmg~or waretidusmg,i storage and &stnbutlon fatality. Section 2.2. By ~e Ci .ty:: .The City makes~ the following representations as the basis for the undertaking on its part herein 0,o~ntained:i: :" (a) (b) (c) (d) (e) The City is authori~zed by laW>to enter into this Agreement and to carry out its obligations hereunder. : :; ' The City has foUnd that t lie TIF! District is a "redevelopment tax increment financing district,": l~UrSuant!to :M.S., § 469.174. The City will, in a, timelY ma~ym~r,[ Subject to all notification requirements, review and act upon all sU~mttals attd aPphcat~ons of the Developer, and wdl cooperate with the efforts ofiIie Devd¢t~e; ~o; secure the granting of any permit, license, or other approval req~ed, ito allO,wltt!e construction of the Minimum Improvements; prowded, however~,t~hat .nothing Co?tamed m th~s subparagraph shall be construed to limit irt any wayne reaS0.nableiand legitimate exercise of the City's discretion in considering any S~bmittal o[ application. The activities of :t,he CitY iare~ ~Undertaken for the purpose of fostering the redevelopment of e~ttain real}pr6perty which, for a variety of reasons, is presently unutilized and unaerUtilizea ::'aha for the purpose of promoting economic development and th~ creatiO~of employment opportunities. The City will coop~ate with the Developer with respect to any litigation, other than litigation in :whiCh :the::: City and the Developer are adverse parties, commenced with respect to ttie}2~IF Plan, Program, or Minimum Improvements.