Agenda Packets - 1997/10/06 - Laserfiche WebLink

Home Browse Search

EDA in evaluating a Project and carrying out the City's and EDA's obligation under this Agreement; and • (c) Such other terms and conditions as may be agreed upon by the parties. 2. The Redevelopment Contract, together with any other agreements entered into between the parties hereto contemporaneous therewith, when executed, shall supersede all obligations of the parties hereunder and constitute the entire agreement between the parties hereto. 3. Unless otherwise extended by written agreement between the parties, negotiations hereunder shall continue for a period of ninety (90) days following execution hereof. If the Redevelopment Contract for a Project is not satisfactorily negotiated and executed within the period of this Agreement, as the same may be extended, the obligations of all parties to one another shall terminate and neither shall incur any obligation to any other, except as expressly provided herein. 4. During the term of this Agreement, the Developer shall: (a) provide to the City and EDA, within ninety (90) days of the execution of this Agreement, a preliminary design proposal and a cost analysis projection for the design and construction of a Project. The proposal shall show the location, size, and nature of a Project, including floor plans, outline specifications, and other graphic or written explanations of a Project, shall be accompanied by a time schedule for all phases of development, and shall show and be compatible with any public improvements to be constructed adjacent to or as part of a Project; (b) undertake and obtain such other preliminary economic feasibility studies, income and expense projections, or such other economic information as may be reasonably required by the City and EDA to confirm the economic feasibility and soundness of a Project; (c) within ninety (90) days of execution, submit to the City and EDA for review a Proposed Project financing plan which proposes the Developer's ability to finance a Project; and (d) furnish to the City and EDA such information or documentation as may be required by the City and EDA to identify the intended legal entity constituting the Developer, the identity of the Developer's principal owners, and the legal relationship of such principal owners. 5. During the period of this Agreement, the City and EDA shall, concurrently with the Developer's performance described in paragraph 4 herein: (a) obtain an estimate of the costs of constructing any associated public • improvements necessary to complete a Project; DJK127914 2 MU205-6