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07-24-14 Redevelopment Commission Meeting
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7/22/2014 12:13:50 PM
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3. Exhibit C of the Agreement is amended to read: <br /> "EXHIBIT C <br /> LOCAL PUBLIC IMPROVEMENTS <br /> • Site utilities including stormwater and drainage improvements (per Abonmarche Plan <br /> attached as Exhibit C-1) <br /> • Sidewalks <br /> • Parking Lot paving, striping and landscaping <br /> • Railings/stairs <br /> • Concrete/ Steps and ramps <br /> • Concrete/ Sidewalk <br /> • Concrete/Retaining walls <br /> • Trash enclosure <br /> • Masonry Brick/retaining walls <br /> • Electrical Parking Lot Lights <br /> • Electrical Fixtures—allowance Parking Lot Lights <br /> • Landscaping/Shrubs/Trees/ Seed <br /> • Misc. hardware/Bike Racks <br /> • Sprinkler System <br /> • Conduit for MetroNet" <br /> 4. Section III. (F.) of the Agreement is amended to read: <br /> "F. Streetscape Improvements. Commission agrees to work with Developer on a plan <br /> for completion of the streetscape improvements with respect to the Property, which will be <br /> completed by the City within six (6) months after a certificate of occupancy is issued for the <br /> Project." <br /> 5. The parties acknowledge that as of the date hereof, Developer has not received (or <br /> delivered to the Commission) an acceptable commitment for mortgage financing related to the <br /> Project and desire to amend Section X(B)(2) of the Agreement to read as follows: <br /> "2. If the Developer is unable to obtain mortgage financing for the Project (as <br /> revised based on the Site Plan attached hereto as Exhibit B) on a basis and on terms that <br /> are reasonably acceptable to Developer on or before August 31, 2014, the Developer <br /> shall (a) provide notice of such non-financing to the Commission, and (b) if requested by <br /> Developer or the Commission, continue to make diligent efforts to obtain such financing <br /> for a.period of an additional sixty (60) days after such request. If the Developer fails to <br /> obtain financing after efforts listed above, then the Contract shall, at the option of the <br /> Commission or the Developer, be terminated by written notice thereof to the other party, <br /> and neither the Commission nor the Developer shall have any further rights against or <br /> liability to the other under the Contract. <br />
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