08-22-2001 Council Agenda - Laserfiche WebLink

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Development Property is not, in the City's reasonable determination, sufficient to support the Minimum Market Value; (d) The Construction Plans do not provide for the construction of Minimum Improvements of at least 16,106 rentable square feet; (e) The City staff, in its subjective opinion, determines the Construction Plans do not provide for the construction of esthetically appealing Minimum Improvements of high quality; and The City's approval of Construction Plans pursuant to this Section 6.1 constitutes approval for the purposes of this Agreement only. The City's review and approval or disapproval of the Construction Plans pursuant to this Agreement is not intended to and does not satisfy any requirements of the City's building, fire, zoning or other ordinances or regulations and is not intended as a substitute for any plan review provided for therein. If the City notifies the Developer that the City is rejecting the Construction Plans, in whole or in part, the Developer must submit new or revised Construction Plans to the City within 30 days after the Developer receives written notification from the City of the City's rejection of the Construction Plans. The City must include in any written notice rejecting the Construction Plans, in whole or in part, specifying the City's basis, under this Section 6.1, for rejecting the Construction Plans. The provisions of this Section 6.1 relating to the submission, approval, rejection and resubmission of Construction Plans continue to apply until the City has approved the Construction Plans. The City's approval of the Construction Plans does not relieve the Developer of any obligation to comply with the terms and provisions of this Agreement or the provisions of any applicable federal, state or local laws, ordinances or regulations. The City's approval of the Construction Plans notwithstanding the existence of a Event of Default, whether known or unknown to the City, does not constitute the City's waiver of the Event of Default. 6.2. Zoning. The Developer must obtain, in a timely manner, all governmental approvals, licenses and permits required for the lawful construction of the Minimum Improvements on the Development Property and must comply with all requirements of any applicable federal, state or local laws, ordinances or regulations applicable to the construction of the Minimum Improvements. Developer has submitted to the City an application, in the form the City's ordinances require, to rezone the Development Property to a planned unit development zoning classification. The Developer may not commence construction of the Minimum Improvements unless and until the City rezones the Development Property to a planned unit development zoning classification. Developer is solely responsible for the payment of all application fees, permit fees and other governmental fees and charges associated with the development of the Project including, but not limited to, building permit fees, Ramsey /Washington Metro Watershed District fees and all local and regional water access charges and sewer access charges. Developer must also pay to the City, prior to or contemporaneously with the City's conveyance of the Development Property to the Developer pursuant to the terms of the Purchase Agreement a park land dedication fee for the Development Property determined at a rate of 62.50 per square foot.five percent (5 %) of the purchase price as determined Page 52 13169160