Laserfiche WebLink
• C. The City agrees to provide to the Redeveloper monthly updates of draws on the <br /> Advance and the balance thereof. The City shall also provide copies to the Redeveloper of <br /> bills or other documentation representing draws upon the Advance. <br /> 3. The Project. The Project will consist of the redevelopment of the redevelopment property and <br /> may include,but not be limited to:the development of housing units,which may include the development of <br /> rental and for sale multi-family housing(condominiums/townhomes),commercial space to be used for retail <br /> and service type uses and office. <br /> 4. Public Assistance. In order to achieve the foregoing multi-use redevelopment,it is anticipated <br /> that a definitive Redevelopment Agreement, if any,will contain provisions addressing a variety of forms of <br /> public assistance, which may be necessary in order to accomplish the redevelopment. No commitment is <br /> presently being made to provide any form of public assistance,and the Redeveloper acknowledges that the City <br /> has not made any representations that any assistance will be available. Examples of public assistance that may <br /> ultimately be agreed upon, include,but are not limited to, the following: <br /> a. Site Assembly. The City will consider acquisition of some or all of the <br /> Redevelopment Property based upon terms and conditions contained in the redevelopment <br /> agreement. Acquisition may be through negotiated purchase, or condemnation or a <br /> combination. Acquisition by the City shall be considered only after the Redeveloper has <br /> demonstrated good faith efforts to purchase the property, and these efforts have been <br /> unsuccessful. <br /> b. Tax Increment Financing. The City may be asked to establish a tax increment <br /> • financing district to support the Project; and agrees to give due consideration to any such <br /> request. <br /> C. Tax-Exempt Bonds. The City may be asked to act as issuer of tax-exempt bonds for <br /> the benefit of the Redevelopment Property,and agrees to give due consideration to any such <br /> request. <br /> d. Community Development Block Grant Funds. The City agrees to consider <br /> allocating a portion of any Community Development Block Grant Funds available to the City <br /> to the Redevelopment Property. <br /> 5. Redeveloper's Proposed Use,Minimum Improvements. The minimum improvements will be <br /> made pursuant to plans which are acceptable to and approved by the City as part of the Redevelopment <br /> Agreement. <br /> 6. Ownership. It is expected that any final redevelopment proposal will provide that the Project <br /> (assuming that rental housing is approved by the City)will be owned by the Redeveloper or its assignees,and <br /> that certain condominiums,town,or single family will be sold by the Redeveloper or its assignee to others. <br /> 7. Preliminary Development Activities. The Redeveloper's obligation during the preliminary <br /> development agreement period shall include but not be limited to the following: <br /> a. Preparation of a preliminary site plan to include location of buildings,description of <br /> buildings,landscaping and expected improvements. <br /> • b. Preparation of a final development agreement to address items included in Section 8. <br /> Page 2 <br />