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25J - AGMT - 3RD AND BROADWAY DEV
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03/21/2017
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25J - AGMT - 3RD AND BROADWAY DEV
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3/16/2017 4:04:36 PM
Creation date
3/16/2017 3:49:43 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Planning & Building
Item #
25J
Date
3/21/2017
Destruction Year
2022
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undertaken by the Developer during the Negotiation Period, whether or not this Agreement is, <br />eventually, terminated or extended or a DDA is entered into among the Parties, in the future. <br />8. City Not To Negotiate With Others. <br />(a) During the Negotiation Period, the City, and their respective staff shall not <br />negotiate with any other person regarding the sale or development of the Property, except owners <br />of or business tenants occupying property within the Project. The term "negotiate," as used in <br />this Agreement, means and refers to engaging in any discussions with a person other than the <br />Developer, regardless of how initiated, with respect to that person's development of the Property <br />to the total or partial exclusion of the Developer from redeveloping the Property, without the <br />Developer's written consent, subject to the provisions of Section 8(b) and further provided that <br />they may receive and retain unsolicited offers regarding development of the Property, but shall <br />not negotiate with the proponent of any such offer during the Negotiation Period. <br />(b) Nothing in this Agreement shall limit, prevent, restrict or inhibit the City <br />from providing any information in its possession or control that would customarily be furnished <br />to persons requesting information from the City concerning their respective goals, matters of a <br />similar nature relating to development plans or as required by law to be disclosed, upon request <br />or otherwise. <br />9. Acknowledgments and Reservations. <br />(a) The Parties agree that, if this Agreement expires or is terminated for any <br />reason, or a future DDA is not approved and executed by the Parties, for any reason, none of the <br />Parties shall be under any obligation, nor have any liability to each other or any other person <br />regarding the sale or other disposition of the Property or the development of the Project or the <br />Property. <br />(b) The Developer acknowledges and agrees that no provision of this <br />Agreement shall be deemed to be an offer by the City, nor an acceptance by the City of any offer <br />or proposal from the Developer for the City to convey any estate or interest in the Property to the <br />Developer or for the City to provide any financial or other assistance to the Developer for <br />development of the Property or execution of the Project. <br />(c) The Developer acknowledges and agrees that the Developer has not <br />acquired, nor will acquire, by virtue of the terms of this Agreement, any legal or equitable <br />interest in real or personal property from the City. <br />(d) Certain development standards and design controls for the Project may be <br />established among the Parties, but it is understood and agreed among the Parties that the Project <br />and the development of the Property must conform to all City, and other applicable <br />governmental development, land use and architectural regulations and standards. Drawings, <br />plans and specifications for the Project shall be subject to the approval of the City through the <br />standard development application process for acquiring the real estate and entitlements within <br />the Project. Nothing in this Agreement shall be considered approval of any plans or <br />specifications for the Project or of the Project itself by the City. <br />25J -9 <br />
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