CC PACKET 07271993 - Laserfiche WebLink

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WHEREAS, the HRA and the City believe that redevelopment of a portion of the Project Area pursuant to this Agreement is in the best interests of the City and benefits the health, safety, morals and welfare of its residents, and complies with the applicable state and local laws and requirements under which the Redevelopment Project has been undertaken and is being assisted. NOW, THEREFORE, in consideration of the foregoing premises and the mutual obligations set forth in this Agreement, the parties hereto hereby agree as follows: ARTICLE 1 Definitions Section 1.1. Definitions. In this Agreement, unless a different meaning clearly appears from the context: "Act" means Minnesota Statutes, Sections 469.001 through 469.047. "Agreement" means this .Agreement, as the same may be from time to time modified, amended or supplemented. "Bond Resolution" means the resolution or resolutions adopted by the Board of Commissioners of the HRA authorizing the issuance and setting forth the terms and security for the Bond. "Bond" means :he Limited Revenue Taxable Tax Increment Bond in substantially the form of Exhibit C hereto to be issued by the HRA pursuant to the Bond Resolution and to be delivered by the HRA to the Redeveloper as provided in Section 6.1 hereof. "Certificate of Completion" means a certification in the form attached as Exhibit A, to be provided to Redeveloper pursuant to this Agreement. "City" means the City of St. Anthony, Minnesota, a Minnesota municipal corporation. "Construction Plans" means the plans, specifications, drawings and related documents for the construction work to be performed by the Redeveloper on the Redevelopment Property as a part of the Project, which (a) shall be at least as detailed as the plans, specifications, drawings and related documents which are submitted to the building inspector of the City and (b) shall include at least the following: (1) site plan; (2) foundation plan; (3) basement plans; (4) floor plan for -2-