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07-22-2019 EDA Packet
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07-22-2019 EDA Packet
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10/30/2021 1:08:48 PM
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EDA
EDA Document Type
EDA Packet
Meeting Date
07/22/2019
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8 <br />constructed. The Developer did not obtain a building permit for any portion of the Minimum <br />Improvements before July 8, 2019, the date of approval of the TIF Plan for the TIF District. <br /> <br />(e) Neither the execution and delivery of this Agreement, the consummation of the <br />transactions contemplated hereby, nor the fulfillment of or compliance with the terms and <br />conditions of this Agreement is prevented, limited by or conflicts with or results in a breach of, the <br />terms, conditions or provisions of any corporate restriction or any evidences of indebtedness, <br />agreement or instrument of whatever nature to which the Developer is now a party or by which it is <br />bound, or constitutes a default under any of the foregoing, which default or breach might prevent <br />the Developer from performing its obligations under this Agreement. <br /> <br />(f) The Developer shall promptly advise the Authority in writing of all litigation or <br />claims affecting any part of the Minimum Improvements and all written complaints and charges <br />made by any governmental authority materially affecting the Minimum Improvements or materially <br />affecting Developer or its business which may delay or require changes in construction of the <br />Minimum Improvements. <br /> <br />(g) The Developer represents that no more than twenty percent (20%) of the square <br />footage of the Senior Housing Units (the only housing units being financially subsidized with <br />Available Tax Increment from the TIF District) will consist of commercial, retail or other <br />nonresidential use. <br /> <br />(h) The Developer represents that each Independent Living Unit and each Assisted <br />Living Unit within the Senior Housing Units has facilities to cook (such as a microwave) and a <br />bathroom. The Senior Housing Units may have nurse(s) or home health aide(s) on staff, but none of <br />the Senior Housing Units will have 24-hour nursing care on-site (provided, however, that from time <br />to time, a resident of the Senior Housing Units may have such services on a temporary basis, such <br />as on a short-term basis following surgery, but in no event shall such services extend to the <br />provision of ongoing skilled care). <br /> <br /> <br /> <br /> <br />(The remainder of this page is intentionally left blank.)
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