05-09-1994 EDA WS - Laserfiche WebLink

Home Browse Search

DEVELOPMENT ASSISTANCE AGREEMENT THIS AGREEMENT is dated as of , 1994; is by and between the Mounds View Economic Development Authority and Everest Development, Ltd., a Minnesota corporation; and provides as follows: ARTICLE I DEFINITIONS Section 1.1. Definitionso In this Agreement, unless a different meaning clearly appears from the context: "Agreement" means this Development Assistance Agreement by and between the Authority and the Developer, as the same may be from time to time modified, amended or supplemented. "Authoritv" means the Mounds View Economic Development Authority. "Board" means the Board of Commissioners of the Authority, its governing body. "Bonds" means (1) the City's $6,000,000 Taxable General Obligation Tax Increment Bonds, Series 1988A, dated February 1, 1988, (2) the City's $930,000 General Obligation Tax Increment Bonds, Series 1989B, dated November 1, 1989, (3) the City's $1,490,000 Taxable General Obligation Tax Increment Bonds, Series 1989C, dated November 1, 1989, (4) and any bonds or similar obligations issued by the City or the Authority to refund any of the Bonds (including without limitation the City's $4,945,000 Taxable General Obligation Tax Increment Refunding Bonds, Series 1994B, dated May 1, 1994, and issued to "crossover refund" the above-mentioned Series 1988A Bonds as of February 1, 1996). "Certificate of Completion" means the certificate substantially in the form of the attached Exhibit C, to be executed by the Authority upon the conditions provided in Section 3.4 hereof upon completion of the Improvements. "Citv" means the City of Mounds View, Minnesota. "Construction Plans" means the plans, specifications, drawings and related documents on all construction work to be performed by or on behalf of the Developer on the Development Property, including the Improvements and all other on-site improvements to be performed, installed or constructed upon the Development Property 262545 .1 1' 1