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5A3 Development Agreement (Penny Hill Homes LLC) - Signed
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5A3 Development Agreement (Penny Hill Homes LLC) - Signed
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3/27/2025 12:29:34 PM
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3/27/2025 12:29:28 PM
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Dept of Community Investment
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14 <br />EXHIBIT B <br />Project Plan <br />The Developer will complete the following work in accordance with the terms and <br />conditions of this Agreement and in compliance with all applicable laws and regulations: <br />The Developer will complete the development of certain property to renovate and <br />reactivate the Property , specifically: <br />•Provide at a minimum three (3) commercial spaces for rent, each receiving <br />individual Certificates of Occupancy issued from the St. Joseph County Building <br />Department <br />•Have a minimum of three (3) active businesses operating in the Property. <br />•Invest no less than $1.44 million into the Property for its renovation and restoration <br />The Developer will complete the work contemplated herein in accordance with the terms <br />and conditions of this Agreement and in compliance with all applicable laws <br />and regulations. <br />The structures will be considered complete upon the issuance of Certificates of Occupancy.
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