Common use of Xxxxx Xxxxxxxx Site Clause in Contracts

Xxxxx Xxxxxxxx Site. (a) Xxxxx Xxxxxxxx DDA; Site Assembly. Developer and the Agency shall cooperate with the Housing Authority to obtain HUD’s consent to (i) a conveyance to the Agency or to Developer or Xxxxx Xxxxxxxx Developer of the portions of the Xxxxx Xxxxxxxx Site that will not be retained by the Housing Authority for the Xxxxx Xxxxxxxx Replacement Projects for development thereof in a manner consistent with the Development Plan, the BVHP Redevelopment Plan, the Candlestick Design for Development and the Below-Market Rate Housing Plan; and (ii) the construction of the Xxxxx Xxxxxxxx Replacement Projects by Xxxxx Xxxxxxxx Developer through a sole-source contract. As set forth in the Below-Market Rate Housing Plan, Xxxxx Xxxxxxxx Developer is expected to enter into the Xxxxx Xxxxxxxx DDA, pursuant to which Xxxxx Xxxxxxxx Developer will agree to develop the Xxxxx Xxxxxxxx Replacement Projects. Developer and the Agency shall use good faith efforts to negotiate and finalize the Xxxxx Xxxxxxxx DDA consistent with the terms set forth in this DDA, including the Below-Market Rate Housing Plan. Under the Xxxxx Xxxxxxxx DDA the Parties anticipate that (A) the Agency shall convey to the Housing Authority any portions of the Xxxxx Xxxxxxxx Site owned or acquired by the Agency upon which the Xxxxx Xxxxxxxx Replacement Projects are built on or before the Completion of such Xxxxx Xxxxxxxx Replacement Projects, and (B) the Housing Authority shall convey to the Agency the portions of the Xxxxx Xxxxxxxx Site owned by the Housing Authority and not used for the Xxxxx Xxxxxxxx Replacement Projects. The Agency shall convey the portions of the Xxxxx Xxxxxxxx Site owned by the Agency and not used for the Xxxxx Xxxxxxxx Replacement Projects to Developer in accordance with the terms of this DDA. In the event that the Parties cannot assemble the land for the Xxxxx Xxxxxxxx Replacement Projects as and when required under this DDA, then the Agency shall have the right but not the obligation to contribute any real property it owns in the Xxxxx Xxxxxxxx Site approved by the Housing Authority in order to Commence the Xxxxx Xxxxxxxx Replacement Projects.

Xxxxx Xxxxxxxx Site. (a) Xxxxx Xxxxxxxx DDA; Site Assembly. Developer and the Agency shall cooperate with the Housing Authority to obtain HUD’s consent to (i) a conveyance to the Agency or to Developer or Xxxxx Xxxxxxxx Developer of the portions of the Xxxxx Xxxxxxxx Site that will not be retained by the Housing Authority for the Xxxxx Xxxxxxxx Replacement Projects for development thereof in a manner consistent with the Development Plan, the BVHP Redevelopment Plan, the Candlestick Design for Development and the Below-Market Rate Housing Plan; and (ii) the construction of the Xxxxx Xxxxxxxx Replacement Projects by Xxxxx Xxxxxxxx Developer Xxxxxxxxx through a sole-source contract. As set forth in the Below-Market Rate Housing Plan, Xxxxx Xxxxxxxx Developer is expected to enter into the Xxxxx Xxxxxxxx DDA, pursuant to which Xxxxx Xxxxxxxx Developer will agree to develop the Xxxxx Xxxxxxxx Replacement Projects. Developer and the Agency shall use good faith efforts to negotiate and finalize the Xxxxx Xxxxxxxx DDA consistent with the terms set forth in this DDA, including the Below-Market Rate Housing Plan. Under the Xxxxx Xxxxxxxx DDA the Parties anticipate that (A) the Agency shall convey to the Housing Authority any portions of the Xxxxx Xxxxxxxx Site owned or acquired by the Agency upon which the Xxxxx Xxxxxxxx Replacement Projects are built on or before the Completion of such Xxxxx Xxxxxxxx Replacement Projects, and (B) the Housing Authority shall convey to the Agency the portions of the Xxxxx Xxxxxxxx Site owned by the Housing Authority and not used for the Xxxxx Xxxxxxxx Replacement Projects. The Agency shall convey the portions of the Xxxxx Xxxxxxxx Site owned by the Agency and not used for the Xxxxx Xxxxxxxx Replacement Projects to Developer in accordance with the terms of this DDA. In the event that the Parties cannot assemble the land for the Xxxxx Xxxxxxxx Replacement Projects as and when required under this DDA, then the Agency shall have the right but not the obligation to contribute any real property it owns in the Xxxxx Xxxxxxxx Site approved by the Housing Authority in order to Commence the Xxxxx Xxxxxxxx Replacement Projects.