03-2024 - Authorize Development Agreement with LDC Warren LTD, LLC

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DocuSign Envelope ID: 92860B03-367C-49AA-BA95-OFDE6BFCF177 B. Historic Building Requirements. The Developer shall have consulted and materially followed the Secretary of the Interior's Standards for Rehabilitation and receive a Certificate of. Appropriateness from the City regarding the rehabilitation of historic structures that are part of the Project. C. Environmental. Developer shall have submitted such environmental reports for the Development Site to the City as are reasonably requested by the Developer's lender for the Project and evidencing that there are no hazardous materials located on the Development Site or violations of environmental laws that would prevent development of the Development Site in accordance with the Project Plans or if environmental issues are identified in the environmental reports, evidence that such environmental issues will be remediated or otherwise properly resolved to the City's satisfaction in the City's reasonable discretion. Developer shall have delivered a reliance letter from the preparer of the environmental reports authorizing reliance on those reports by the City. D. Landscapes. The Developer shall submit a final landscape plan, which shall be subject to reasonable written approval by the City. The Developer is required to maintain and preserve that landscape plan. E. Utilities. To the extent that utility improvements are necessary to service the Project, the Developer, at its cost, shall have completed any reasonably required 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. F. Service Agreement. The Service Agreement (as defined below) 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. XII. CONSTRUCTION OF PROJECT In order to claim the benefit of the Incentives 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"). Developer shall apply for all necessary Building Permits as soon as feasibly possible. Developer shall commence construction for Phase One on or before July 1, 2024 and for Phase Two on or before January 1, 2025, Notwithstanding anything to contrary herein, and subject to Force Majeure (as defined herein) and any approved extensions (as set forth below), the Developer shall have caused material portions of the Project to be substantially completed and ready for final inspection by no later than August 31, 2024 for Phase One and December 31 St, 2025 for Phase 9