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RES 21-027 AUTHORIZING THE EXECUTION OF A REDEVELOPMENT AGREEMENT
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RES 21-027 AUTHORIZING THE EXECUTION OF A REDEVELOPMENT AGREEMENT
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3/25/2021 2:41:48 PM
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<br />connections to public utility lines and facilities shall be subject to approval of the City and <br />any private utility Developer involved. Except for public improvements, which are <br />undertaken by the City or other governmental body and assessed against benefited <br />properties, all street and utility installations, relocations, alterations and restorations shall <br />be at the Developer’s expense and without expense to the City. The Developer, at its own <br />expense, shall replace any public facilities or utilities damaged during the Project by the <br />Developer or its agents or by others acting on behalf of or under the direction or control of <br />the Developer. <br /> Certificate of Occupancy; Certificate of Completion. <br />(a) Upon the Developer’s request following the City’s issuance of a certificate of <br />occupancy with respect to the Project, the City will furnish the Developer with a Certificate <br />of Completion for the Project, in substantially the form attached hereto as Exhibit D, as <br />conclusive evidence of satisfaction and termination of the agreements and covenants of <br />this Agreement with respect to the obligations of the Developer to complete the Project. <br />The furnishing by the City of such Certificate of Completion shall not constitute evidence <br />of compliance with or satisfaction of any obligation of the Developer to any Mortgagee. <br />(b) If the City shall refuse or fail to provide a Certificate of Completion following <br />the Developer’s request, the City shall, within ten (10) days after the Developer’s request, <br />provide the Developer with a written statement specifying in what respects the Developer <br />has failed to complete the Project in accordance with this Agreement, or is otherwise in <br />default, and what measures or acts will be necessary, in the reasonable opinion of the City, <br />for the Developer to obtain the Certificate of Completion. <br /> Progress Reports. Until the Certificate of Completion is issued for the Project, the <br />Developer shall make, in such detail as may reasonably be required by the HRA or the City, and <br />forward to the HRA and the City, within ten (10) days of a request by either or both the HRA and <br />the City, a written report as to the actual progress of construction. <br /> Access to Development Property. The Developer agrees to permit the City and <br />HRA and any of their officers, employees or agents access to the Development Property at all <br />reasonable times following reasonable notice, for the purpose of inspection of all work being <br />performed in connection with the Project; provided, however, that neither the City nor HRA shall <br />have an obligation to inspect such work. <br /> Modification; Subordination. The HRA agrees to subordinate its rights under this <br />Agreement to the holder of any Mortgage securing construction or permanent financing, in <br />accordance with the terms of a subordination agreement in a form reasonably acceptable to the <br />HRA. <br />10 <br /> <br />
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