09-14-1998 EDA - Laserfiche WebLink

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"Event of Default" means any Event of Default described in Section 5 . 1 of this Agreement. "Improvements" means the approximately 103, 000 97,463 square foot building which may be constructed by the Developer as manufacturing/warehouse/office facilities to be located on the ' Development Property within the Tax Increment Finance District, and all other improvements, including walks, landscaping, utility improvements and relocations, and fixtures and equipment, to be constructed or installed upon the Development Property in connection with and in order to facilitate the above described improvements. "Party" means either the Developer or the Authority, as the context may require . "Parties" means the Developer and the Authority. "Public Improvements" means the public infrastructure improvements for the Improvements described in Section 3.2 and Exhibit D. "5j,te Improvements" means the site improvements for the Improvements described in Section 3 .2 and Exhibit E. "State" means the State of Minnesota. "Tax Increment Act" means Minnesota Statutes, Sections 469.174 through 469. 179, as the same may be amended or supplemented. "Tax Increments" means those tax increments which the Authority shall be entitled to receive and retain, and which the Authority shall have actually received, from Ramsey County from time to time from the Tax Increment Financing District pursuant to the Tax Increment Act; provided that the term "Tax Increments" shall specifically not include any amounts of tax increment generated by the Tax Increment Financing District which pursuant to the applicable terms of the Tax Increment Act (as it may exist or be amended from time to time) may be required to be paid to or reserved for the State of Minnesota, Ramsey County, or any other entity or official; and "Available Tax Increments" means 90k of the Tax Increments generated by the portion of the tax capacity of the Development Property which exceeds $22,342. "Tax Increment Financing District" means the Authority' s Tax Increment Financing District No. 1 (which has also been sometimes referred to as Tax Increment Redevelopment District No. 1) within the Development District, as now under the governance and control of the Authority, as described in Section 2.1 (C) . "Unavoidable Delays" means any delay outside the control of the Party claiming its occurrence which is the direct result of 334455.3..ED vS to 114 9/10/9B 1-3 1 4 ?IL7RL1gcR 'OM/1c :9P 'rc/ q:Rn R6 l I fl (T ) 111IOHOW 29 ST)IHR WOH4