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Authorizing the execution of a development management agreement with Gerald D. Hines interests
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Authorizing the execution of a development management agreement with Gerald D. Hines interests
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4/25/2017 4:12:31 PM
Creation date
3/13/2017 10:47:37 AM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
9/11/1978
Ord-Res Number
642-78
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ARTICLE 1. NEGOTIATION AND PROCUREMENT OF CONTRACTUAL <br />COMMITMENTS BY THE DEVELOPMENT MANAGER <br />1.1 Within 180 days from the date this Agreement is executed, <br />the Development Manager, on behalf of the City, shall negotiate <br />and procure the following contractual commitments from the owners <br />and /or operators of the office building, hotel and retail space <br />in the Project (hereinafter collectively called the "Principal "), <br />subject to the City's approval: <br />1.1.1 Financing and construction of their respective <br />facilities in the Project; <br />1.1.2 Ownership and /or operation of their respective <br />facilities in the Project; provided, however, that the City shall <br />at no time be or become an owner and /or operator of any of the <br />Principals' facilities in the Project; and <br />1.1.3 Development management and construction management <br />of their respective facilities in the Project <br />1.2 The Development Manager covenants with the City to expedi- <br />tiously and economically use its professional skill and judgment, <br />consistent with the interests of the City, in negotiating and <br />procuring these contractual commitments and in furthering the <br />development of the Project. <br />
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