49-2020 - TIF for Solove Development Detroit, Parkwood, Wyandotte

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B. Environmental. Developer shall submit such environmental reports for the Development Site to City as are requested by the Developer's lenders for the Project and evidencing that there are no hazardous materials located on the Development Site or violation of environmental laws that would prevent development of the Development Site in accordance with the Project Plans. Developer shall have delivered a reliance letter from the preparer of the environmental reports authorizing reliance on those reports by the City. C. Landscaping. The Developer shall submit a final landscape plan, which shall be subject to written approval by the City. The Developer is required to maintain and preserve that landscape plan. D. Utilities. To the extent that utility improvements are necessary to service the Project, the Developer at its cost, shall be responsible for the construction, reconstruction or installation of utility improvements (including any underground utilities), including, but not limited to, storm and sanitary sewers (including necessary site grading therefore) and water lines. E. Service Agreement. The Service Agreement shall be effective and shall also have been recorded against the Project Site. The Parties will proceed diligently and in good faith to pursue the satisfaction of these items in a timely and coordinated manner intended to result in the timely development of the Project in accordance with the Development Plan. VIII. CONSTRUCTION OF PROJECT In order to claim the benefit of the TIF pursuant to this Agreement, the Developer will apply for all necessary building permits, including, but not limited to, permits for construction of buildings, site development, exterior signage, infrastructure on public property and on property of others, utility and storm sewer construction (collectively, the "Building Permits"), no later than August 31, 2022. Developer will commence construction of the Project, including, but not limited to, demolition and environmental remediation, no later than twelve (12) months after receiving the Building Permits for the Project or the effective date of all TIF-related legislation and agreements, whichever is latest (the "Commencement Deadline"); provided, however, that if the issuance of Building Permits for the Project by the City occurs later than three (3) months after application for such Building Permits by the Developer (not including any period of time beginning upon delivery by the City of a correction notice to the Developer and ending upon resubmission by the Developer), the Commencement Deadline shall be extended by a period of time equal to the time by which the issuance of such Building Permits exceeds three (3) months. During the above - referenced 12-month period, the Developer shall proceed in good faith to advance the Project, and shall respond to any reasonable requests made by the City regarding the status of the Project. Notwithstanding anything to the contrary herein, construction of the Project shall be substantially completed no later than December 31, 2025. The Developer and the City are always mindful and concerned that construction of development projects proceeds diligently. Developer intends to construct the Project in a timely manner in accordance with the Development Plan. The City and Developer acknowledge that 7 15785832v23