XXXXX OF EXCLUSIVE DEVELOPMENT RIGHTS Sample Clauses

XXXXX OF EXCLUSIVE DEVELOPMENT RIGHTS. Consistent with the City’s Disposition Policy, the City’s Public Works Director has determined the Community Site is not needed for operations purposes and it will be transferred to the City’s development property inventory for redevelopment purposes.
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XXXXX OF EXCLUSIVE DEVELOPMENT RIGHTS. 1. Consistent with the City’s Disposition Policy, the City’s Public Works Director has determined the Community Site is not needed for operations purposes and it will be transferred to the City’s development property inventory for redevelopment purposes. 2. EPNI has expressed interest in redeveloping the Community Site for community‐directed uses such as affordable housing and urban agriculture (the “Project Concept”) and needs time to develop viable plans for the Project Concept. 3. The City hereby grants EPNI exclusive development rights to the Community Site for a period of 24 months, commencing on July 1, 2022, with no fee. Upon request from EPNI, the City’s Director of Community Planning and Economic Development (“CPED”) may extend the exclusive development rights period up to 12 additional months provided EPNI is making reasonable progress. Further extensions may be granted by the City Council. 4. Prior to expiration of the exclusive development rights period, EPNI shall submit the following to CPED for review: A. A narrative description of the redevelopment proposal B. A project schedule including key activities and milestones such as community engagement, land use approvals, financial closing, construction start and project completion. C. The development costs for the redevelopment proposal. D. A statement of capital funding sources and uses. E. A description of the operational plan for the development project including a financial operating pro forma. F. Documentation that EPNI has secured commitments for project financing. G. The amounts and types of public subsidy or other public assistance secured or being pursued to support the redevelopment project, including documentation of any sources already secured. H. Evidence that EPNI has obtained or is pursuing all necessary and required governmental approvals for the redevelopment project, including but not limited to land use approvals. 5. Upon receipt of the foregoing documents and information, CPED staff shall review and evaluate EPNI’s redevelopment proposal in accordance with the following evaluation criteria: A. The redevelopment proposal is an eligible activity and achieves a public purpose as defined in Minnesota Statutes, chapter 469. B. The redevelopment proposal is consistent with City development ordinances and policies, such as the Zoning Code and Minneapolis 2040 Comprehensive Plan. C. The financing plan for the redevelopment proposal is feasible, based on financial commitments from pu...

Related to XXXXX OF EXCLUSIVE DEVELOPMENT RIGHTS

  • Background Technology List here prior contracts to assign Inventions that are now in existence between any other person or entity and you.

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  • License Terms This license is for one full Semester. It cannot be cancelled or terminated except under the conditions cited in this license.

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