Laserfiche WebLink
4. The YMCA will be subject to the city's comprehensive plan, zoning ordinances, and <br />site plan reviews. The YMCA will be responsible for obtaining any other necessary <br />permits from other public regulatory agencies. <br />B. FINANCIAL COMMITMENT <br />1. It is anticipated the cost for construction of the facility will be in the range of $7 <br />million, including in -kind donations, based on year 2004 construction costs. <br />2. The City of Lino Lakes commits to $1.5 million in support of the construction of the <br />YMCA upon acceptance of the development agreement by the Lino Lakes City Council. <br />The $1,500,000.00 in support from the City of Lino Lakes will be funded to the YMCA <br />in full upon ground breaking for the facility, or at such other time as the parties mutually <br />agree in connection with other financing for the facility. The YMCA commits financial <br />development to secure funds to construct the facility. If a shortfall exists, the YMCA <br />agrees to revenue debt financing for that amount, currently estimated to be approximately <br />$2.5 million, under terms further described in Section D below. <br />3.The City of Lino Lakes will provide infrastructure (road, sewer, water) to the property. <br />The YMCA will be responsible for all costs associated with utility hook -up from the street <br />to the facility. The YMCA will be solely responsible for all permit fees, SAC fees, and <br />connection charges. <br />SJB- 259390v1 <br />LN 140 -90 <br />2 <br />-40- <br />