CCP 07-27-2010 - Laserfiche WebLink

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• As a result of the phased redevelopment of the Redevelopment Property, me City anticipates that it will enter into a redevelopment ageement for the Redevelopment Property with the Redeveloper which may provide for spam¢ redevelopment agreements with the Redeveloper for certain phases ofredevelopment of the Redevelopment Property. The terms and conditions of such redevelopment cuutrauk shall be subject to the provisions of flus Agement and the mutual agreement of the Redeveloper and the City. ARTICLE VI DEVELOPMENT AGREEMENTS Section 6.1 Redevelopment Contract(s) Criteria. The City and me Redeveloper have entered into this Agreement with the understanding that they anticipate executing a contract for private redevelopment for the Redevelopment Property. The City agues that as am inducement an the Redeveloper to eater into this Agreement and as pmt of the consideration for the services provided by Redeveloper th the City prior to tills Agreement and personal to mass Agreement, the City agues that during the term of Us Agreement, Redeveloper shall have the exclusive fight to enter into a redevelopment agreement with the City for the redevelopment of the Redevelopment Property. During thetern of this Agreement the City shall not negotiate with any other party for the redevelopment of all or any portion of the Redevelopment Property. If the Redeveloper and . the City determine that they want to enter into separate redevelopment agreements for certain phases of the redevelopment of the Redevelopment Property, then the redevelopment agreement entered into between the City and the Redeveloper, to the extent it excludes a portion of the Redevelopment Property (me "Excluded Redevelopment Property), shall include a provision extending me Redeveloper's exclusive right to enter into redevelopment agemmin s) with the City for the Excluded Redevelopment Property. Tne redevelopment ageement(s) will include all of the tents and candidate; for the redevelopment of the Redevelopment Property and it will be necessary for the Redeveloper and the City to address, among others, the following issues: (a) Type, quantity and quality of the minimum improvements to the Redevelopment Property. (b) Timing of the acquisition by the City and Redeveloper of parcels for various phases of the Redevelopment Property. (c) Timing of connotation of the minimum improvements of the intended phases or portions of the phases of the Redevelopment Property. (d) Payment by the Redeveloper for the Redevelopment Property. (e) Minimum requirements for me construction of the minimum improv ents o each phase or portion of a phase which may include Nome footage and/or named valuation to allow the Redeveloper to continue its exclusivity in redeveloping me Redevelopment Property.