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Agenda - Economic Development Authority - 10/09/2025
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Agenda - Economic Development Authority - 10/09/2025
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10/2/2025 3:46:37 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
10/09/2025
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(4) The construction of the Project would not be undertaken by the Developer, and in <br />the opinion of the Developer would not be economically feasible within the reasonably foreseeable <br />future, without the assistance and benefit to the Developer provided for in this Agreement. <br />(5) Neither the execution and delivery of this Agreement, the consummation of the <br />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 litigation <br />commenced with respect to the Project. <br />(7) The Developer will cooperate fully with the City in resolution of any traffic, <br />parking, trash removal or public safety problems which may arise in connection with the <br />construction and operation of the Project. <br />(8) The construction of the Project shall commence no later than November 1, 2025 <br />and barring Unavoidable Delays, the Project will be substantially completed by December 31, <br />2026. <br />(9) The Developer acknowledges that Tax Increment projections contained in the Tax <br />Increment Financing Plan are estimates only and the Developer acknowledges that it shall place <br />no reliance on the amount of projected Tax Increments and the sufficiency of such Tax Increments <br />to reimburse the Developer for a portion of the costs of the construction of the Site Improvements <br />as provided in Article III. <br />5 <br />176531970v1 <br />
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