EVIDENCE OF REDEVELOPER’S ABILITY. Section 101.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability. Redeveloper shall, within ninety (90) days following the date of this Redevelopment Agreement, state the amount and source of liquid assets on hand and the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper in connection with Site Preparation and construction of the Private Improvements, including construction of the Public Enhancements. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan. To the extent allowed by law, the City agrees to keep the information confidential.
EVIDENCE OF REDEVELOPER’S ABILITY. Section 101. Bond Counsel Fee & Tax Increment Financing Administrative Fee
EVIDENCE OF REDEVELOPER’S ABILITY. Evidence of Redeveloper’s Financial Ability to Construct Private Improvements. Redeveloper shall, within sixty (60) days following the date of this Agreement, state the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Private Improvements. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability. Redeveloper shall, within one hundred twenty (120) days following the date of this Agreement, state the amount and source of liquid assets on hand and the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper in connection with acquisition of the Project Site, construction of the Antelope Tower Building and Parking Lot, construction of the Redeveloper Public Improvements, and construction of the Dry Utility Work. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan. To the extent allowed by law, the City agrees to keep the information confidential.
EVIDENCE OF REDEVELOPER’S ABILITY. Evidence of Redeveloper’s Financial Ability to Construct Private Improvements. Redeveloper shall, within sixty (60) days following the Date of this Agreement, state the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Private Improvements. Redeveloper shall provide City proof that debt financing is sufficient to fulfill Redeveloper’s obligation to deposit funds for City Streetscape Improvements described in Section 401 below. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability. Redeveloper shall, within one hundred eighty (180) days following the date of this Agreement, state the amount and source of liquid assets on hand and the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper in connection with acquisition of the Project Site, construction of the Xxxxxxx Housing Redevelopment Project, construction of the Redeveloper Public Improvements, construction of the City Public Improvements, and construction of the Utility Work. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan. To the extent allowed by law, the City agrees to keep the information confidential.
EVIDENCE OF REDEVELOPER’S ABILITY. Section 101. Bond Counsel Fee & Tax Increment Financing Administrative Fee (“TIF
A. Payment of Bond Counsel Fee & TIF Administrative Fee. In consideration of the City entering into this Agreement and causing the City’s Bond Counsel to prepare the associated TIF Bond Ordinance authorizing the issuance of Tax Allocation Bonds for the Telegraph District Phase II Redevelopment Projects in a total combined principal amount not to exceed Eight Million Nine Hundred and Seven Thousand Six Hundred and Fifty-Two Dollars ($8,907,652), Redeveloper has provided the City with security acceptable to the City Attorney in the amount of Twenty Thousand Dollars ($20,000) to guarantee total amount of One Hundred Ten Thousand Seven Hundred Thirty-Five and NO/100 Dollars ($110,735) (i.e. $21,658.00 TIF Bond Counsel Fee and $89,077 TIF Admin. Fee) which the City may draw upon if said total amount of $110,735 is not paid to the City within thirty (30) days following City Council’s approval of each Bond Ordinance and the Resolution approving this Agreement. In the event the Redeveloper must follow the contingency described above in Section 302 A to construct Telegraph Lofts South in lieu of Telegraph Lofts West, then the Redeveloper shall be entitled to a refund of $16,408 based upon a lower TIF Admin. Fee of $72,669 instead of $89,077.
B. Reimbursable Expenses: Bond Counsel Fee and TIF Admin Fee. The Bond Council Fee for the TIF Bond Ordinance and the TIF Admin. Fee are reimbursable expenses, payable from issuance of the TIF Indebtedness for the Telegraph District Phase II Projects.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability. Redeveloper shall, prior to Closing as described in Exhibit B, state the amount and source of debt financing which has been obtained or committed to Redeveloper in connection with acquisition of the Project Site, construction of the New Building, construction of the Redeveloper Public Improvements, construction of the City Public Improvements, and construction of the Dry Utility Work and simultaneously demonstrate it has the financial wherewithal to complete the Block 65 Project according to the terms and conditions stated herein. Such information shall be provided in a form reasonably satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan. To the extent allowed by law, the City agrees to keep the information confidential.
EVIDENCE OF REDEVELOPER’S ABILITY. Section 101. Bond Counsel Fee & Tax Increment Financing Administrative Fee
A. Payment of Bond Counsel Fee & TIF Admin. Fee. In consideration of the City entering into this Redevelopment Agreement and causing the City’s Bond Counsel to prepare the associated TIF Bond Ordinance authorizing the issuance of Tax Allocation Bonds for the Skate Zone Redevelopment Project in the amount not to exceed Nine Hundred Sixty Thousand and No/100 Dollars ($960,000.00), Redeveloper agrees to pay the City the total amount of the Bond Counsel Fee (estimated to be Ten Thousand and No/100 Dollars $10,000.00) and the Nine Thousand Six Hundred and No/100 Dollars ($9,600.00) TIF Administration Fee prior to or concurrently with the City’s issuance of the Notice to Proceed (defined below).
