Common use of Redeveloper Improvements Clause in Contracts

Redeveloper Improvements. Redeveloper intends to rehabilitate and renovate the four story structure, in a manner consistent with its historic character, the existing structure located generally on the southeast corner of the intersection of South 8th and O Streets in such a manner that it will be used as first floor commercial space comprised of approximately 8,190 square feet and three upper floors of residential space with a combined area of approximately 24,570 square feet for a grand total of 32,760 square feet of habitable space in the building. The Redeveloper undertakings for the Redevelopment Project consist of the following activities as generally shown on Exhibit B (collectively “Redeveloper Improvements”): (1) Complete the Site Acquisition and acquire the Project Site from the current property owner to allow the implementation of the Redeveloper Improvements which will help correct and eliminate blighted and substandard conditions present within the Project Area. The City agrees to assist in Redeveloper’s acquisition of the Project Site by providing a grant of TIF Bond Proceeds (defined below) to the Redeveloper in an amount not to exceed the purchase price of the Project Site of One Million Six Hundred and Seventy-Five Thousand and NO/100 Dollars ($1,675,000.00) (collectively “Project Site Purchase Assistance”) and in an amount not to exceed the available TIF Tax Revenues under this Agreement. (2) The design and renovation of a four story historic building containing approximately 8,190 square feet of commercial space and 24,570 square feet of habitable residential space, including rooftop improvements (collectively “Xxxxxxx Xxxxxxxx Building”). The Xxxxxxx Xxxxxxxx Building is hereafter collectively referred to as the “Private Improvements”. (3) The Redeveloper shall through the City Executive Order process, when required, implement the following public improvements (collectively “Redeveloper Public Improvements”): (i) Public street parking, including curb and gutters, on South 0xx Xxxxxx from “O” Street to the Alley (“Public Street Parking”); (ii) Public streetscape, including sidewalks, hardscape, landscape, pedestrian and street lighting, signage, and related public improvements located in the public right of way that abuts the Project Site (collectively “Streetscape”); (iii) Design and construct a new street level dock (without cover) abutting the west exterior façade of the Xxxxxxx Xxxxxxxx Building within the 0xx Xxxxxx and O Street right of ways, as permitted by the City (“Dock Improvements”). The Dock Improvements shall be of a similar or higher quality as the Dock Improvements illustrated by Exhibit B; and (iv) In the event Buried Utility Line Improvements (as defined below) are not feasible or not implemented, then the Developer agrees to repair or restore the pavers in the Block 53 east-west alley to their present general condition or to a better condition at the conclusion of the Redevelopment Project (“Block 53 Alley Paver Restoration”). (v) Make certain historic exterior façade restorations and improvements to the Xxxxxxx Building, which shall including fitting new windows, and brick tuck-pointing, and which may include installing exterior balconies on the south side and/or other façade improvements (collectively “Façade Improvements”);

Redeveloper Improvements. Redeveloper intends to rehabilitate and renovate the four story structurerenovate, in a manner consistent with its historic charactercharacter of the building, the existing two-story structure generally located generally on the southeast corner of the intersection of South 8th and O Streets in such a manner that it Xxxxx 0xx xxx X Xxxxxxx. The redevelopment project will be used as first floor include commercial space comprised of approximately 8,190 24,599 square feet on the first floor and three upper floors of residential space with a combined area of basement, and approximately 24,570 square feet for a grand total of 32,760 7,645 square feet of habitable space in residential use on the buildingsecond floor. The redeveloper will construct a roof deck above the second story of the structure. The Redeveloper undertakings for the Redevelopment Project consist of the following activities as generally shown on Exhibit B (collectively “Redeveloper Improvements”): (1) Complete the Site Acquisition and acquire the Project Site from the current property owner to allow the implementation of the Redeveloper Improvements which will help correct and eliminate blighted and substandard conditions present within the Project Area. The City agrees to assist in Redeveloper’s acquisition of the Project Site by providing a grant of TIF Bond Proceeds (defined below) to the Redeveloper in an amount not to exceed the purchase price of the Project Site of One Million Six Five Hundred and Seventy-Five Thirty Seven Thousand and NO/100 Dollars ($1,675,000.00537,000.00) (collectively “Project Site Purchase Assistance”) and in an amount not to exceed the available TIF Tax Revenues under this Agreement). (2) The design and renovation of a four two-story historic building containing approximately 8,190 24,559 square feet of commercial space and 24,570 7,645 square feet of habitable residential space, including rooftop improvements and design and construction of the roof deck (collectively “Xxxxxxx Xxxxxxxx Xxxxx Building”). Redeveloper will also make certain improvements to the façade and exterior of the Xxxxx Building to restore its historic character and remove substandard and blighted conditions. These façade and exterior improvements shall include the installation of new windows on the second floor of the Xxxxx Building and the execution of “repointing” the masonry finish of the building where necessary. The Xxxxxxx Xxxxxxxx design and renovation of the Xxxxx Building is hereafter and the façade and exterior improvements and restoration shall be collectively referred to as the “Private Improvements”. (3) The Redeveloper shall through ” and are shown on the City Executive Order process, when required, implement the following public improvements (collectively “Redeveloper Public Improvements”): (i) Public street parking, including curb and gutters, on South 0xx Xxxxxx from “O” Street to the Alley attached Exhibit B (“Public Street Parking”); (ii) Public streetscape, including sidewalks, hardscape, landscape, pedestrian and street lighting, signage, and related public improvements located in the public right of way that abuts the Project Site (collectively “Streetscape”); (iii) Design and construct a new street level dock (without cover) abutting the west exterior façade of the Xxxxxxx Xxxxxxxx Building within the 0xx Xxxxxx and O Street right of ways, as permitted by the City (“Dock Improvements”). The Dock Improvements shall be of a similar or higher quality as the Dock Improvements illustrated by Exhibit B; and (iv) In the event Buried Utility Line Improvements (as defined below) are not feasible or not implemented, then the Developer agrees to repair or restore the pavers in the Block 53 east-west alley to their present general condition or to a better condition at the conclusion of the Redevelopment Project (“Block 53 Alley Paver RestorationSchematic Drawings”). (v) Make certain historic exterior façade restorations and improvements to the Xxxxxxx Building, which shall including fitting new windows, and brick tuck-pointing, and which may include installing exterior balconies on the south side and/or other façade improvements (collectively “Façade Improvements”);

Redeveloper Improvements. Redeveloper intends to rehabilitate and renovate the four story structurerenovate, in a manner consistent with its historic charactercharacter of the buildings, the three existing structure located generally on buildings within the southeast corner project area. The first floor of the intersection of South 8th all three buildings will maintain their current retail use. The second and O Streets in such a manner that it third stories will be used renovated as first floor commercial space residential housing units composed of approximately twenty-two units comprised of approximately 8,190 square feet studio, one, and three upper floors of residential space with a combined area of approximately 24,570 square feet for a grand total of 32,760 square feet of habitable space in the buildingtwo-bedroom apartments. The Redeveloper undertakings for the Redevelopment Project consist of the following activities as generally shown on Exhibit B (collectively “Redeveloper Improvements”): (1) Complete the Site Acquisition and acquire Redeveloper has acquired the Project Site from the current prior property owner owners to allow the implementation of the Redeveloper Improvements which will help correct and eliminate blighted and substandard conditions present within the Project Area. The City agrees to assist in Redeveloper’s acquisition of the Project Site by providing a grant of TIF Bond Proceeds (defined below) to the Redeveloper in an amount not to exceed the purchase price of the Project Site of One Million Six Two Hundred and Seventy-Twelve Thousand Five Thousand Hundred and NO/100 Dollars ($1,675,000.00212,500.00) (collectively “Project Site Purchase Assistance”). 2) Prepare the site for renovation and rehabilitation (“Site Preparation”). The City agrees to assist in Redeveloper’s Site Preparation in an amount not to exceed Forty Thousand and NO/100 Dollars ($40,000.00) 3) The renovation of the available TIF Tax Revenues under this Agreement. (2) second and third floors of the buildings amounting to an aggregate approximately 17,200 square feet, and approximately 22 dwelling units.. Redeveloper will also make certain improvements to the façade and exterior of the buildings to restore its historic character and remove substandard and blighted conditions. These façade and exterior improvements shall include the installation of new windows on the second and third floor of the Central Hotel and historic restoration of the Central Hotel’s brick façade. The design and renovation of a four story historic building containing approximately 8,190 square feet of commercial space the Central Hotel and 24,570 square feet of habitable residential space, including rooftop the façade and exterior improvements (collectively “Xxxxxxx Xxxxxxxx Building”). The Xxxxxxx Xxxxxxxx Building is hereafter and restoration shall be collectively referred to as the “Private Improvements”. (3) The Redeveloper shall through ” and are shown on the City Executive Order process, when required, implement the following public improvements (collectively “Redeveloper Public Improvements”): (i) Public street parking, including curb and gutters, on South 0xx Xxxxxx from “O” Street to the Alley attached Exhibit B (“Public Street Parking”); (ii) Public streetscape, including sidewalks, hardscape, landscape, pedestrian and street lighting, signage, and related public improvements located in the public right of way that abuts the Project Site (collectively “Streetscape”); (iii) Design and construct a new street level dock (without cover) abutting the west exterior façade of the Xxxxxxx Xxxxxxxx Building within the 0xx Xxxxxx and O Street right of ways, as permitted by the City (“Dock ImprovementsSchematic Drawings”). The Dock Improvements shall be of a similar or higher quality as the Dock Improvements illustrated by Exhibit B; and (iv) In the event Buried Utility Line Improvements (as defined below) are not feasible or not implemented, then the Developer City agrees to repair or restore the pavers assist Redeveloper with Façade Enhancements by providing a grant of TIF bond proceeds in the Block 53 east-west alley an amount not to their present general condition or to a better condition at the conclusion of the Redevelopment Project exceed One Hundred Thousand and NO/100 Dollars (“Block 53 Alley Paver Restoration”$100,000.00). (v) Make certain historic exterior façade restorations and improvements to the Xxxxxxx Building, which shall including fitting new windows, and brick tuck-pointing, and which may include installing exterior balconies on the south side and/or other façade improvements (collectively “Façade Improvements”);

Redeveloper Improvements. The Exchange Agreement provides for the transfer of the Project Site from the Property Owner to the Redeveloper. Upon acquiring title and taking possession of the Project Site from the Property Owner, the Redeveloper intends to rehabilitate and renovate the four story structurerenovate, in a manner consistent with its historic character, the existing structure and construct a four-story addition to said structure located generally on the southeast southwest corner of the intersection of South 8th and O Streets in such a manner that it will be used as first (i) one floor of commercial space comprised of approximately 8,190 9,000 square feet of habitable space (6,600 SF on the first floor and 2,400 SF in the basement) and three upper floors of residential space with a combined area of approximately 24,570 19,800 square feet for a grand total or (ii) two floors of 32,760 commercial space comprised of approximately 15,600 square feet of habitable space (13,200 SF on the first and second floors and 2,400 SF in the buildingbasement) and two floors of residential space with a combined area of approximately 13,200 square feet. The Redeveloper undertakings for the Redevelopment Project consist of the following activities as generally shown on Exhibit B C (collectively “Redeveloper Improvements”):Redeveloper (1) Complete The Redeveloper shall design and construct the Site Acquisition and acquire the Project Site from the current property owner following public enhancement improvements which are intended to allow the implementation of the Redeveloper Improvements which will help correct and eliminate blighted and substandard conditions present within the Project Area. The City agrees to assist in Redeveloper’s acquisition of the Project Site by providing a grant of TIF Bond Proceeds (defined below) to the Redeveloper in an amount not to exceed the purchase price of the Project Site of One Million Six Hundred and Seventy-Five Thousand and NO/100 Dollars ($1,675,000.00) Area (collectively “Project Site Purchase AssistancePublic Enhancements”): restoration of the public dock and canopy immediately abutting the east façade of the Xxxxxxx Paper Building (“Dock & Canopy Enhancement”) and in an amount not to exceed restoration of the available TIF Tax Revenues under this Agreementhistoric facades of the Xxxxxxx Paper Building (“Façade Enhancement”). (2) The design and renovation of a four story historic building containing approximately 8,190 9,000 square feet of commercial space and 24,570 19,800 square feet of habitable residential space, including rooftop improvements construction of a four story addition on the south end of the existing building (collectively “Xxxxxxx Xxxxxxxx Paper Building”). The Xxxxxxx Xxxxxxxx Paper Building is and Public Enhancements are hereafter collectively referred to as the “Private Improvements”. (3) The Redeveloper shall through the City Executive Order process, when required, implement process remove and fill in the following public improvements (collectively “Redeveloper Public Improvements”): (i) Public street parking, including curb and gutters, on South 0xx Xxxxxx from “O” Street to the Alley (“Public Street Parking”); (ii) Public streetscape, including sidewalks, hardscape, landscape, pedestrian and street lighting, signage, and related public improvements building’s underground vault space located in the public right of way that abuts the Project Site (collectively “Streetscape”); (iii) Design and construct a new street level dock (without cover) abutting the west exterior façade of the Xxxxxxx Xxxxxxxx Building within the 0xx Xxxxxx and O Street right of ways, as permitted by the City (“Dock ImprovementsVault Space”). The Dock Improvements Removal of said Vault Space shall sometimes be of a similar or higher quality referred to herein as the Dock Improvements illustrated by Exhibit B; and (iv) In the event Buried Utility Line Improvements (as defined below) are not feasible or not implemented, then the Developer agrees to repair or restore the pavers in the Block 53 east-west alley to their present general condition or to a better condition at the conclusion of the Redevelopment Project (“Block 53 Alley Paver Restoration”). (v) Make certain historic exterior façade restorations and improvements to the Xxxxxxx Building, which shall including fitting new windows, and brick tuck-pointing, and which may include installing exterior balconies on the south side and/or other façade improvements (collectively “Façade Redeveloper Public Improvements”);.