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• Project to proceed(excluding special assessments); (ii) if a Redevelopment and <br /> Tax Increment Financing District is established and Planned Unit Development <br /> Agreement is executed, and the Project does not proceed, that development of all <br /> or a portion of property within the Project, without being required to purchase the <br /> Property, pursuant to the Purchase Agreement, at which time SBT would be <br /> allowed to present any and all objections; and(iii) SBT would not be deemed to <br /> have waived or be estopped from asserting objections to any subsequent <br /> applications for approvals of any or a portion of the Project as a consequence of <br /> its agreement not to object to the Project; and <br /> WHEREAS, the City acknowledges that SBT is relying upon this Resolution to withhold its <br /> objections to the approvals required for the Project. <br /> NOW, THEREFORE, BE IT RESOLVED THAT: <br /> 1. The City acknowledges that SBT, LLC has agreed to withhold any objections to the <br /> approvals required for the Project(except any special assessments), in reliance upon this <br /> Resolution. <br /> 2. If the Developer does not proceed with the Project, whether or not in form as set forth in <br /> the application made on or about August 22, 2003, or otherwise, and the property is not <br /> purchased in lieu of condemnation; SBT shall not be deemed to have waived or be <br /> • estopped from asserting objections at said time with respect to new applications and <br /> public hearings required pursuant to the City code for any future development of property <br /> within the Project. <br /> 3. Pursuant to Section 1655.07 Subdivision 2, of the City Code (and/or any amendment <br /> thereto), new public hearings will be required if all or a portion of the Project is to be <br /> developed without the obligation (in the PUD Agreement, Final Development Plan or <br /> otherwise), to purchase the property in lieu of condemnation pursuant to the terms of the <br /> Purchase Agreement, as the removal of said obligation is considered a Significant Change <br /> under Section 1655.07 Subdivision 2. <br /> Adopted this day of , 2003. <br /> ay r <br /> ATTEST: <br /> City Clerk <br /> • Reviewed for Administration: <br /> City M ager <br />