07-01-2019 Council Packet - Laserfiche WebLink

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i TABLE OF CONTENTS Page PREAMBLE ....................................................................................................................................... 1 ARTICLE I Definitions Section 1.1. Definitions .................................................................................................................... 3 ARTICLE II Representations and Warranties Section 2.1. Representations by the Authority ................................................................................. 7 Section 2.2. Representations and Warranties by the Developer ...................................................... 7 ARTICLE III Tax Increment Financing Assistance Section 3.1. Status of Development Property .................................................................................. 9 Section 3.2. Environmental Conditions ............................................................................................ 9 Section 3.3. Minimum Improvements .............................................................................................. 9 Section 3.4. Reimbursement of Senior Building Costs .................................................................. 10 Section 3.5. Issuance of TIF Note .................................................................................................. 10 Section 3.6. Reduction of TIF Note................................................................................................ 11 Section 3.7. Sale of Restaurant Parcel or Commercial Parcel ....................................................... 12 Section 3.8. City Development Agreement .................................................................................... 12 Section 3.9. Payment of Authority Costs ....................................................................................... 12 Section 3.10. Records ....................................................................................................................... 12 Section 3.11. Purpose of Assistance ................................................................................................. 12 ARTICLE IV Construction of Minimum Improvements Section 4.1. Construction of Improvements ................................................................................... 13 Section 4.2. Construction Plans ...................................................................................................... 13 Section 4.3. Commencement and Completion of Construction ..................................................... 14 Section 4.4. Certificate of Completion ........................................................................................... 14 Section 4.5. Affordability Covenants; Qualification of TIF District ............................................. 15 Section 4.6. Affordability Housing Reporting ............................................................................... 15 Section 4.7 Senior Housing Covenant ........................................................................................... 16 Section 4.8 Uniformity of Finishes, Amenities ............................................................................. 16