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09-07-2021 EDA Packet
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09-07-2021 EDA Packet
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11/4/2021 11:21:36 AM
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11/4/2021 11:09:05 AM
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EDA
EDA Document Type
EDA Packet
Meeting Date
09/07/2021
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i <br />TABLE OF CONTENTS <br /> Page PREAMBLE ....................................................................................................................................... 1 ARTICLE I <br />Definitions Section 1.1. Definitions .................................................................................................................... 3 <br />ARTICLE II <br />Representations and Warranties Section 2.1. Representations by the Authority ................................................................................. 7 Section 2.2. Representations and Warranties by the Developer ...................................................... 7 <br /> <br />ARTICLE III Tax Increment Financing Assistance 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 Section 3.4. Development of Skilled Nursing Units ...................................................................... 10 Section 3.5. Reimbursement of Qualified Development Costs ..................................................... 10 Section 3.6. Issuance of TIF Note .................................................................................................. 10 <br />Section 3.7. Reduction of TIF Note................................................................................................ 11 <br />Section 3.8. Sale of Restaurant Parcel or Commercial Parcel ....................................................... 12 Section 3.9. City Development Agreement .................................................................................... 12 Section 3.10. Payment of Administrative Costs ............................................................................... 13 Section 3.11. Records ....................................................................................................................... 13 <br />Section 3.12. Purpose of Assistance ................................................................................................. 13 <br /> ARTICLE IV Construction of Minimum Improvements and Infrastructure Improvements <br />Section 4.1. Construction of Improvements ................................................................................... 14 <br />Section 4.2. Construction Plans ...................................................................................................... 14 Section 4.3. Commencement and Completion of Construction ..................................................... 15 Section 4.4. Certificate of Completion ........................................................................................... 15 Section 4.5. Affordability Covenants; Qualification of TIF District ............................................. 16 <br />Section 4.6. Affordability Housing Reporting ............................................................................... 16 <br />Section 4.7 Senior Housing Covenant ........................................................................................... 17 Section 4.8 Uniformity of Finishes, Amenities ............................................................................. 17
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