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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 City, the Master Developer and the Developers have previously entered <br />into a Grant Agreement dated as of December 18, 2003 (the "Initial Grant Agreement"), <br />regarding certain grant funds totaling $1,450,000.00 received by the City and applied to the <br />. Town Square Project as further described in the Initial Grant Agreement. <br />WHEREAS, the City is the recipient of certain additional grant funds totaling $74,773 <br />from the Metropolitan Livable Communities Act, Tax Base Revitalization Account (the "TBRA <br />Grant"). <br />WHEREAS, among the City's goals for the Town Square Project are the redevelopment <br />of blighted property and remediation of environmental conditions, and the receipt and utilization <br />of the TBRA Grant funds for environmental remediation will further such goals. <br />WHEREAS, the Master Developer has to date paid $189,721.00 to EnviroBate Metro <br />("EnviroBate") for asbestos abatement, lead paint stabilization and hazardous materials removal <br />at the Property for the Town Square Project and the City has agreed to disburse the TBRA Grant <br />• <br />2 ~ <br />S <br />