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(b) the Townhome Developer proposes to construct a 14 unit for-sale townhome <br />project (the "Townhome Development"); and <br />(c) the Senior Developer proposes to construct a 56 unit senior rental project which <br />will include abelow-grade parking structure (the "Senior Development"). <br />WHEREAS, the City has entered into Development Agreements with the Multifamily <br />Developer, the Townhome Developer and the Senior Developer, each dated July 18, 2003, (each <br />a "Development Agreement"), which Development Agreements include, among other things, the <br />terms and conditions under which each Developer will construct its respective component of the <br />Town Square Project. <br />WHEREAS, the Development Agreement with the Multifamily Developer includes, <br />among other things, the terms and conditions under which the City agreed to acquire the Property <br />exercising its powers of eminent domain and to transfer the Property to the Multifamily <br />• Developer, which in turn has agreed to convey portions of the Property to the Townhome <br />Developer and the Senior Developer. <br />WHEREAS, City is the recipient of certain funds totaling $1,450,000.00 pursuant to the <br />following grants relating to the Town Square Project (the "Grants"): <br />(a) Metropolitan Livable Community Act, Livable Communities Demonstration <br />Account, Grant No. SG-02-155, $1,000,000.00 (the "Livable Communities Grant"); <br />(b) Metropolitan Livable Communities Act, Local Housing Incentives Account, <br />Grant No. SG-03-48, $150,000.00; and <br />(c) Metropolitan Livable Communities Act, Local Housing Incentives Account, <br />Grant No. SG-02-62, $300,000.00. <br />• <br />G8 <br />