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Item 09 - First Amendment to THRIVE DDA & Consent to Assignment of Leases & Rents Authorization
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Item 09 - First Amendment to THRIVE DDA & Consent to Assignment of Leases & Rents Authorization
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8/15/2023 10:25:08 AM
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City Clerk
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Agenda Packet
Agency
Clerk of the Council
Item #
9
Date
6/7/2022
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EXHIBIT 1 <br /> 4 <br />EXHIBIT C-1 <br /> <br />FIRST AMENDED PERFORMANCE SCHEDULE <br /> <br />A. Days shall be calendar days, unless otherwise specified. <br />B. Except for the execution of the Lease and prerequisites for the execution of the <br />Lease, the City Manager is authorized by the City to make minor changes to the schedule prior to <br />the Project Completion Date resulting in an aggregate extension of the Project Completion Date <br />of ninety (90) calendar days or less. <br />C. In the event of any conflict between this schedule and the DDA, the terms and <br />provisions of the DDA shall control. <br />E. All defined terms indicated by initial capitalization used in this schedule shall have <br />the meanings ascribed to the same terms in the DDA. <br /> Action Date Action to be <br />Completed By <br />1. Effective Date of Agreement 6/18/2020 <br />3. Submission of updated Financial Pro Forma from Developer <br />to City 3/15/2022 <br />4. Delivery of Due Diligence Completion Notice from Developer <br />to City <br />COMPLETED <br />7/2/2018 <br />5. Submittal of building permit application(s) from Developer to <br />City <br />COMPLETED <br />3/30/2022 <br />6. Issuance of building permit(s) by City 12/15/2022 <br />7. Document Construction Financing, Permanent Financing, and <br />Evidence of Equity 12/15/2022 <br />8. Execution of Lease 12/15/2022 <br />9. Groundbreaking ceremony 12/15/2022 <br />10. Commencement of construction and installation of Project 12/15/2022 <br />11. Submission of administrative request for extension of <br />construction deadline, if necessary, from Developer to City 6/18/2023 <br />12. Completion of construction and installation of Project 6/18/2023 <br />13. Submission of Certificate of Completion from Developer to <br />City 6/18/2023 <br />14. Issuance of Certificate of Occupancy by City 6/18/2023 <br />15. Grand opening ceremony 6/18/2023 <br />
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