07-25-2016 EDA Packet - Laserfiche WebLink

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ARTICLE I Definitions Section 1.1. Definitions. In this Agreement, unless a different meaning clearly appears from the context: "Agreement" means this Contract for Private Development, as the same may be from time to time modified, amended, or supplemented. "Authority" means the Lino Lakes Economic Development Authority, Minnesota. "Authority Representative" means the Executive Director of the Authority, or any person designated by the Executive Director to act as the Authority Representative for the purposes of this Agreement. "Authorizing Resolution" means the resolution of the Authority, substantially in the form attached as EXHIBIT B, adopted by the Authority on July 25, 2016, approving this Agreement and authorizing the issuance of the Note. "Available Tax Increment" means, on each Payment Date, 80% of the Tax Increment derived from the TIF District, and paid to the Authority by the County in the six months preceding the Payment Date. "Business Subsidy Act" means Minnesota Statutes, Sections 116J.993 to 116J.995, as amended. "Certificate of Completion" means the certification, in substantially the form attached as Exhibit C, provided to the Developer pursuant to Section 4.4 of this Agreement. "City" means the City of Lino Lakes, Minnesota. "Construction Plans" means the plans, specifications, drawings and related documents on the construction work to be performed by the Developer on the Development Property which (a) shall be as detailed as the plans, specifications, drawings and related documents which are submitted to the appropriate building officials of the City, and (b) shall include at least the following for each building: (1) site plan; (2) foundation plan; (3) floor plan for each floor; (4) elevations (all sides); (5) landscape plan; and (6) such other plans or supplements to the foregoing plans as the City may reasonably request to allow it to ascertain the nature and quality of the proposed construction work. "County" means the County of Anoka, Minnesota. "Developer" means United Properties Development LLC, a limited liability company, or its permitted successors and assigns. 2 482405v6