07-01-2019 Council Packet - Laserfiche WebLink

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9 ARTICLE III Tax Increment Financing Assistance Section 3.1. Status of Development Property. The Developer will acquire the Development Property. The Authority has no obligation to acquire the Development Property. Section 3.2. Environmental Conditions. (a) The Developer acknowledges that the Authority makes no representations or warranties as to the condition of the soils on the Development Property or the fitness of the Development Property for construction of the Minimum Improvements or any other purpose for which the Developer may make use of such property, and that the assistance provided to the Developer under this Agreement neither implies any responsibility by the Authority for any contamination of the Development Property nor imposes any obligation on the Authority to participate in any cleanup of the Development Property. (b) Without limiting its obligations under Section 8.3 hereof, the Developer further agrees that it will indemnify, defend, and hold harmless the Authority and its governing body members, officers, and employees, from any claims or actions arising out of the presence, if any, of hazardous wastes or pollutants existing on or in the Development Property, unless and to the extent that such hazardous wastes or pollutants are present as a result of the actions or omissions of the indemnitees. Nothing in this section will be construed to limit or affect any limitations on liability of the Authority under State or federal law, including without limitation Minnesota Statutes, Sections 466.04 and 604.02. Section 3.3. Minimum Improvements. (a) The Developer shall cause to be constructed the following on the Development Property: (i) the Senior housing building with approximately 93 independent living units and approximately 50 assisted living units (the “Senior Building”); (ii) 20 detached townhomes on land adjacent to the Senior Building (the “Townhomes”); (iii) a clubhouse for use by residents of the Townhomes and the Senior Building (the “Clubhouse”); and (iv) the Infrastructure Improvements described in EXHIBIT C. (b) The Developer shall dedicate land to the City or the County, as applicable, Infrastructure Improvements as described in EXHIBIT D.