Agenda - Council - 03/22/2005 - Laserfiche WebLink

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this agreement whicit agreemefit Pr%ides for the development of a RTC. RTC means a unified, coneentrated~develoP~ent :haying the following characteristics: (1) Commercial mixed us4 development occupying a minimum of 1.0 million gross square feet of space (2) Transit station suitable for e°nversion to a commuter rail station (3) A minimumOf 1,500 units of medium and high density residential units The City shall provide copies of all agreements with the Developer of RTC. The County may terminate this agreement &ith ~he City if the City modifies, alters or changes any of the terms or conditions of its agreement with the Developer of the RTC. 13. 14. 15. TERM This Agreement shall continue until (1) it is terminated as provided herein, or (2) until the construction provided for herein is completed -and payments provided for herein are made, whichever of (1) or (2) shall :first occun Maintenance portions of this Agreement shall not terminate unless a subsequerlt agreement, specifically approved by the governing bodies of both parties, replaces this Agreement. " STRICT ACCOUNTABILITY A strict accounting shall be made of all funds and report of all receipts and disbursements shall be made upon request by either Party. RIGHT OF WAY The City shall acquire the m,3j ority of the right of way needed for this project as part of their development process. The City shall notify the County of any right of way needs not acquired through the City process a minimum of 12 m°nths prior to the need for said right of way. The County then shall acquire said right of way, form private property owners, that is required for , the construction of the County Highway improvements through either direct purchase or condemnation. The City sh~ll reimtmrge :the COunty all costs incurred by the County in acquiring the necessary parcels. ReimbUrsable ersts include, but are not limited to, the purchase price, recording fees, appraisal fees, attorney fees, and all costs incurred by the County in acquiring the parcels through eminent domain (hereinafter ¢011eetively referred to as "Land Acquisition Costs"). These costs shall noI:inClude County Stafftime. 12;