Predevelopment Agreement definition
Examples of Predevelopment Agreement in a sentence
On September 3, 2008, the City and the Developer entered into a Predevelopment Agreement in order to carry out specified "Predevelopment Activities," including the preparation of a "Master Plan," and on December 7, 2009 the City and the Developer entered into an amendment to the Predevelopment Agreement in order to modify certain terms.
The funds previously deposited by Developer pursuant to the Predevelopment Agreement (the “Deposit” as defined in the Predevelopment Agreement) shall be carried over for this purpose until 30 days after final approval of this Agreement, at which point said funds, if any, shall be returned to Developer.
Specifically, this letter recommends approval of a Predevelopment Agreement (PDA) with Los Angeles Community Facilities, Inc.
The New Lease Agreement shall include provisions allowing such premises to be amended, automatically and unilaterally, so as to add portions of the Selected Campus and subtract portions of the Premises required for the development of the Airport in accordance with C-II airfield design standards, all as provided by the Predevelopment Agreement.
The Mayor and City Council of the City of ▇▇▇▇▇, ▇▇▇▇▇▇ County, Illinois (the “City”), have determined that this Predevelopment Agreement is in the best interest of the citizens of the City of Salem.
During the term of this agreement, and in return for the consideration described in section 2, the City shall negotiate exclusively with ICON and ▇▇▇▇▇▇ for the Predevelopment Agreement.
Total consideration payable to Developer for satisfactory performance of the work under this Contract is up to a maximum of the amount shown on Page 1 of this Predevelopment Agreement including any and all expenses, and shall be based on the following: Subject to the provisions set forth in this Agreement, DSHS shall pay Developer on a monthly basis for authorized and satisfactorily completed predevelopment activity work and services rendered under this Agreement.
Pursuant to a promissory note executed in connection with the Predevelopment Agreement (the “Initial Predevelopment Loan Note”), SCH is obligated to repay the Initial Predevelopment Loan only if the predevelopment activities described therein advance the Project to the development stage, with SCH as the developer.
In accordance with the terms of the Predevelopment Agreement, the term of the New Lease Agreement will be adjusted based on certain milestones described in the Predevelopment Agreement.
Those parties who may potentially be parties to the Predevelopment Agreement include the NBA, the Kings, and the Private Participants.