Village Obligations. A. The Village agrees to be responsible for all design and construction costs for the traffic signal and related road improvements.
Village Obligations. The Village will construct and maintain the Stormwater Improvements, if at all, at its sole cost and expense and in compliance with all applicable federal, state, and Village laws, statutes, codes, ordinances, resolutions, rules and regulations, including, without limitation, any and all applicable regulations and permits issued by the Army Corps of Engineers and any other governmental entity with jurisdiction related to the Village Stormwater Improvements (collectively, “Requirements of Law”). The Stormwater Improvements will be constructed and maintained so that they do not make impracticable or infeasible the construction and maintenance of the School Improvements or otherwise unreasonably interfere with or prevent the School District from continuing to utilize the Property for the Crow Island School and related school and sports activities (“School Purposes”). The Stormwater Improvements will be sufficient to meet the stormwater detention and compensatory storage permit requirements for the Property and the School Improvements under the Requirements of Law (presently 10.8 acre feet), including specifically, but without limitation, all requirements of the Metropolitan Water Reclamation District (“MWRD”) and the terms and conditions of the Winnetka Stormwater Management Code and MWRD’s Watershed Management Ordinance. The Village will obligate its contractors to construct the Stormwater Improvements consistent with the Final Plans.
Village Obligations. 1. The Village shall execute an agreement with AVID releasing AVID from all of its obligations under the development agreement executed May 18, 2021, and amended on December 31, 2021, and releasing all personal guarantees related to AVID’s previously proposed project. The Village shall not release AVID from any obligations until the Village has received Developer’s payment under Section C.6. and Xxxxxxxxx has executed this Agreement.
Village Obligations. The Village shall construct the Storage Reservoirs and restore Xxxxxxxx’s Playground at no cost to the School District in the manner as mutually agreed upon between the Parties at a later date and memorialized in one or more Inter-Municipal Agreements.
Village Obligations. Subsection J, as originally set forth in the First Amendment to the Economic Development Agreement, is hereby amended to replace Section 6, Subsection J in its entirety with the following new Subsection J: SECTION 6. VILLAGE OBLIGATIONS.
Village Obligations. A. Village agrees to prepay the some or all of the proportionate share obligations of the Village Parcels based on the following percentages: Ordinance 2019- 29 (23.39), DOS2001-0072 (36.73%), and DOS-2005-00095 (39.88%). Notwithstanding, it is expressly understood that the Village is not assuming the obligations of the Village Parcels but that the Village’s prepayment of any amounts are done for the convenience of the Village and County to expedite the construction of the needed Improvements.
Village Obligations. In exchange for the School District’s covenant set forth in Section 2(b), the Village agrees that all TIF Increment generated from the Malta TIF (Malta TIF Funds”) shall be used solely to pay for: (i) infrastructure costs benefitting existing Village residents; (ii) infrastructure costs related to providing enhanced or extended water and sewer services within the existing developed Project Area or for the Village itself; (iii) roadway costs as necessary to provide access to the existing subdivision and the Watermain B water loop depicted in the attached Exhibit “A”; and/or (iv) engineering, audit, professional fees and costs as required for the administration of the TIF (collectively, the “Approved Costs”). The Village shall not, at any time, use Malta TIF Funds to assist private developers to pay for infrastructure that would otherwise be a developer’s private cost in developing a residential subdivision. To the extent there are uncommitted Malta TIF Funds not required for Approved Costs in any given year, the Village agrees to distribute a surplus of such excess funds to the affected taxing bodies consistent with the provisions of the TIF Act. For purposes of clarification, while the Village has agreed not to provide any direct financial assistance to private developers, the School District recognizes and accepts there may be some indirect benefits to private developers by virtue of the increased capacities of Approved Costs infrastructure construction and such indirect benefit shall not be against the spirit of this Agreement. It is further understood and agreed, notwithstanding the foregoing, the Village may use Malta TIF Funds to defend any claim or litigation arising from the issuance of the bonds by the Village as an obligation of the Malta TIF.
Village Obligations. Provided the Village is able to secure an extension of the Downtown TIF District thereby establishing the TIF Extension Period, the Village shall:
Village Obligations. In accordance with Xxxxxxxxx’s commitment to construct the Project, the Villages agree as follows:
Village Obligations. Village undertakes the following obligations, in consideration of the obligations of Developer, in Section 2.2, below.
