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07-22-2019 EDA Packet
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07-22-2019 EDA Packet
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Last modified
10/30/2021 1:08:48 PM
Creation date
7/17/2019 4:35:11 PM
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EDA
EDA Document Type
EDA Packet
Meeting Date
07/22/2019
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i <br />TABLE OF CONTENTS <br /> <br /> Page <br /> <br />PREAMBLE ....................................................................................................................................... 1 <br /> <br />ARTICLE I <br />Definitions <br /> <br />Section 1.1. Definitions .................................................................................................................... 3 <br /> <br />ARTICLE II <br />Representations and Warranties <br /> <br />Section 2.1. Representations by the Authority ................................................................................. 7 <br />Section 2.2. Representations and Warranties by the Developer ...................................................... 7 <br /> <br />ARTICLE III <br />Tax Increment Financing Assistance <br /> <br />Section 3.1. Status of TIF District Property ..................................................................................... 9 <br />Section 3.2. Environmental Conditions ............................................................................................ 9 <br />Section 3.3. Minimum Improvements and Infrastructure Improvements........................................ 9 <br />Section 3.4. Development of Skilled Nursing Units ...................................................................... 10 <br />Section 3.5. Reimbursement of Qualified Development Costs ..................................................... 10 <br />Section 3.6. Issuance of TIF Note .................................................................................................. 11 <br />Section 3.7. Reduction of TIF Note................................................................................................ 12 <br />Section 3.8. Sale of Restaurant Parcel or Commercial Parcel ....................................................... 12 <br />Section 3.9. City Development Agreement .................................................................................... 13 <br />Section 3.10. Payment of Administrative Costs ............................................................................... 13 <br />Section 3.11. Records ....................................................................................................................... 13 <br />Section 3.12. Purpose of Assistance ................................................................................................. 13 <br /> <br />ARTICLE IV <br />Construction of Minimum Improvements and Infrastructure Improvements <br /> <br />Section 4.1. Construction of Improvements ................................................................................... 14 <br />Section 4.2. Construction Plans ...................................................................................................... 14 <br />Section 4.3. Commencement and Completion of Construction ..................................................... 15 <br />Section 4.4. Certificate of Completion ........................................................................................... 15 <br />Section 4.5. Affordability Covenants; Qualification of TIF District ............................................. 16 <br />Section 4.6. Affordability Housing Reporting ............................................................................... 17 <br />Section 4.7 Senior Housing Covenant ........................................................................................... 17 <br />Section 4.8 Uniformity of Finishes, Amenities ............................................................................. 17 <br />
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