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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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06/07/2010
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80A - TRANSIT CODE AND STATION DISTRICT - FULL PACKET LISTED INDIVIDUALLY
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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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Last modified
1/3/2012 4:05:19 PM
Creation date
6/10/2010 1:10:58 PM
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City Clerk
Doc Type
Agenda Packet
Item #
80A
Date
6/7/2010
Destruction Year
2015
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<br /> Developer listed ox~ Attacl~n.~ent I~o~ 1 and incorporated herein by reference nat to exceed <br /> <br /> T~va Hut~dred sixty-Five Thol~sand Dollars ~~~5,QD0}. <br /> "~"x~~e Cot~~~a~~y" ~ def <br /> i~~ed in ectiot~ X02, <br /> "~'r"tie ~~~ic~~" is de~n.ed in Sectia~~ ~Q3, <br /> "~'ott~~ ~~~e~o~~t~e~~t Casts" ~nea~~s the total development costs for the Developer <br /> <br /> Itnp~io~etne~~ts far each Phase as sl~a~vn an the ~~~dget at~d the devised Budget. <br /> `{~'~~r«rs, e~~~e}' i defit~e~ its ectio~ ~ <br /> `~~~a~rs, <br /> fe~~~~r" is e~t~ed its ectia~~ a~, I . <br /> "~er~= .~o~~ .I~rc~~t~e" ar~d~or `~~e~~~ ~o~~ ~~tc~tt~e ~o~rse~ra~r~s" shall ~nea~~ ver~~ la~v <br /> it~cotne households as defit~ed in Plealtl~ Safety Carle Section 5~ 1 D~~ <br /> <br /> 2~~, ~~~'A~~ ~T` THE SITS. <br /> 2U1, an~eya~zce of ~~le bite a~~tl ~scz•o~~~; o~~s~~~eratio~i. ~~bject to all of the ter~~s <br /> atld candlt~ans of tll~s Ag1'ee~nent, tl~e Agency shah convey fee title to each Phase of t~~e bite to <br /> <br /> the Developer at~d tl~e Develape~~ agrees to accept fee title to each Phase of the ite~ Tl~e pa~~ties <br /> specifically recognize and acl~~~o~vledge that Phase F ~vill close in t~vo or snore portiat~s or <br /> <br /> plisses, ~vitl~ tl~e specific portlot~s or phases subject to the ~n~~tual agreetr~e~at of tl~e parties. Tl~e <br /> Canditians Precedet~t to Closing, and all of the other prav~siot~s of tli~s ectlot~ ~1, sball be <br /> applicable to each such portion of Phase FS bei~~g Conveyed. As to the Additional Pa~~cels, and <br /> <br /> the egu~~a Parcels, the Agency shall use ca~nrnereially ~~easonable efforts to ac~~~lre same o~~ ar <br /> before September 1 , ~a 1 ~ cif Developer is a~varded a reser~atian of Tax Credits for Phase R~ 1 <br /> its the second Tax Credit round of X010, a~~d otherwise forty-fire days prior to subt~~ssio~l <br /> date of a Tax Credit applicatio~~ to TCAC far Phase R~l if Developer does ~~ot receive a <br /> <br /> reservation of Tax Credits 1t~ txe secotlCl round of 0 ~ 0, as alI such dates maybe extended by a <br /> CBA cl~allenge~, for the e~~ra Parcels ar~d foa-ty-five days prior to file date of any <br /> s~~b~n~sslan of a Tax. Credit appl~catlQr~ to TCAC ~~~itll respect to floe applicable Phase, ~~bect to <br /> o~~e n~~~~~~~e res~~lti~~g from a CEA Chailer~ge, but in too event shall fire Age~icy b required to <br /> <br /> u~~dertal~e o14 complete such ac~~lsltlat~ by use of its po~~rer of e~nlnent dama~~~, Tl~e Purchase <br /> <br /> Price far each Phase of tl~e Site shall be O~~e Dollar ~I,OQ}. In impletnet~tation of tl~e <br /> Con~~eyances, tl~e patties shall open escrow ~eacli, a~~ "Bsct+o~v"~ ~vitl~ Old Republic Title <br /> Can~pan~T, ar a~lotl~er esero~v co~npan~~ ~~~~~tually satisfactory to bath parties ~tl~e "Bscro~v <br /> <br /> Ae~~t"} ~~~itl~in f <br /> if~een ~ 15} days after tl~e Date of Agree~net~f. In tl~e e~rent that the Segura <br /> Parcels Dave not been ac~ui~•ed by the Agency on ar before epten7ber 15, ~~10 ~ifDevelopelk is <br /> awarded a reservation of Tax Credits for Plisse -1 in tl~e second Tax Credit ~+ouz~d of 20I0, and <br /> otller~vise fo~•ty-eve {~5~ days prior to submission date of a Tax Credit applicatio~~ to TCAC for <br /> Phase R-1 if Developer does not receive a reservation of Tax Credits in tl~e second rou~~d of <br /> I a, as all s~~cl~ dates may be extended by a CBA cl~allenge~, the Developer shall redesign <br /> <br /> Phase R-1 so as to excll~de tl~e Segura Parcels its ~vl~ich event Developer's obllgatlol~s ~~itl~ <br /> zespect to Phase R~ I shall be extended by tl~e tithe necessar~T for s~~cl~ redesign, If a~~d to the <br /> extent the Additional Parcels at~dloz~ egt~ra Parcels lave been acc~~~ired by the Agency '1t~]In the <br /> i~ <br /> <br /> ~ ococ~ ~ ~oo~~~ ~T ~ ~~oo~~~~~~a l <br /> <br />
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