5A8 & 9 Assignment - Confirmation Agreements (Great Lakes Capital) - Signed

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CONFIRMATION AGREEMENT PAGE 3 READI Grant advanced to the Parties), due to any default or breach by the Commission of its obligations under the Assignment Agreement or Development Agreement. 3.Confirmation of Certain Project Items. The Parties, desiring to confirm certain items with the Project, agree that: a.Cooperation/Reporting. The Commission will lead the public procurement process for any Local Public Improvements in the Development Agreement. Developer will cooperate in good faith with supporting such process. In addition, the Commission agrees to assist Developer, on reasonable request, with providing documentation and reporting to the RDA (if and when required under the Subgrant Agreement and/or Assignment Agreement) regarding the deployment and use of the READI Grant. b.Coordination. The Parties agree to cooperate in good faith and coordinate for the Project to utilize existing/improved off-site stormwater infrastructure when feasible for release into the river at no cost to Developer. Any off-site infrastructure would reduce any on-site percentage requirements. Commission will be responsible for the relocation of utilities, if any, and delivery of the Project Property in pad ready (unencumbered condition for development), with utilities stubbed to Project Property without use of the Funding Amount, for the Parties to then advance with respective portions of the Project set forth in the Development Agreement. The Parties agree to cooperate to evaluate and, if and to the extent feasible and mutually agreeable, locate some project stormwater facilities under Madison Street. c.Funding Amount. The Funding Amount, plus such additional sums as are necessary to complete the Local Public Improvements (as well as delivery of the Project Property in pad ready condition) are the responsibility of Commission under the Development Agreement. In order to advance with Project planning before a Notice to Commence (in order to maintain a critical path schedule for completion dates under the Development Agreement and Subgrant Agreement), the Commission will provide support for the Project Plan to meet or exceed an eight percent (8%) return on cost if and in the event financial metrics are below this minimum. Such support may include (among others), paying for the ground lease for location of structured parking, making additional financial contributions or expansion of Local Public Improvements, master leasing of space within the Project upon completion and/or acquiring and preparing additional land for development for the Project with reduced cost to the Project. d.Parking License. The Parties are advancing with preparation of the Ground Lease, Structure Easement and Parking License as provided in Sections 4.4 and 4.5 of the Development Agreement, prior to entering into a Notice to Commence. Such parking license will reserve to Commission, the sole responsibility for all costs of maintaining and operating the Garage. The Parties agree to cooperate in good faith to identify the parking required to support the operations of the Project (beyond those reserved by Commission for Beacon and for use by the public) during the initial intended twenty-five (25) year term of the Parking License, together with any charges (if applicable) as part of meeting or exceeding the minimum financial metrics set forth above for Project viability.