Examples of Redevelopment Agreement in a sentence
On or after thirty (30) days following the approval and execution of this Redevelopment Agreement, the CDA shall incur and issue TIF Indebtedness in the amount of Two Hundred Seventy-Five Thousand and No/100 Dollars ($275,000.00), as calculated on the attached and incorporated Exhibit “B”.
The Binding Redevelopment Agreement will contain provisions enabling a process for Village staff review of the site plan for each Subarea as well as the vertical improvements to be constructed.
The Binding Redevelopment Agreement will specify, delineate and distinguish among the public improvements that will be engineered and constructed or caused to be engineered and constructed in one or more phases by the Developer and/or its successors and assigns in subsequent phases.
Further, the Binding Redevelopment Agreement will require the Developer to pay to the Village, promptly upon presentation of a written demand or demands therefor, all reasonable third-party fees, costs, and expenses incurred or accrued by the Village in connection with the review, preparation and consideration of the Development Project.
If the Binding Redevelopment Agreement is not executed by September 26, 2023, unless extended pursuant to Section 2.A of the Fourth Amendment to the 2019 REIA, the Developer will be required to perform the demolition and restoration obligations set forth in the 2019 REIA or else forfeit the existing letter of credit posted per the 2019 REIA.