1998 009 Ordinance - Laserfiche WebLink

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2-13-1998 6_B,1PM FROM DIEMERT/ASSOC. 216 dd2 0825 P.3 Progressive employees. Should there be no evidence of the facility being overcrowded, as reasonably determined by Rrogressive in good faith, there will be no excess charges to Village r®sidents in future years. Village will construct a swimming facility an appurtenances (e.g. parking lot, landscaping, pedestrian walkway and;decks) on property adjacent to the Development, known as the North Recreation Zone, on Village property more particularly identified in the architectural rendering attached here as Exhibit "A". Village shall determine the design of the swimming facility and be responsible far all construction. The entire cost of such swimming facility will be financed and/or paid for by Progressive at an estimated amount as stated in Exhibit "B" attached. hereto. However, actual costs will prevail over the estimate. The Village agrees to reimburse Progressive one-half the actual costs of such facility's construction as follows: First three years will be interest free. Years 4 through 8 will bear interest at the rate of a #ive year treasury note plus 20 basis points, adjusted each year. Full payment within 8 years. No prepayment penalty. Village shall allow employees of Progressive and its affiliated entities (and their family members} to use the swimming facility subject to any conditions and limitations of a type customarily imposed by owners and operators of swimming facilities. Village shall determine the swimming facility's hours of operation and may impose usage, membership and other fees for all users. Village will not charge Progressive employees and their families more than Village residents for use of the facility. 3. CONSTRUCTION OF ROADWAY. Promptly following execution of this Agreement. Village shall commence and pursue diligently to completion all action necessary to construct a roadway to service the Development {"Roadway"). The Roadway shall have at least one curb cut on SOM Center Road and one curb out on White Road and shall be constructed at the location shown on Exhibit "A". Village shall acquire by "Quick Take" or other expeditious means any and all property needed for the Roadway's curb cut access from White Road. Village steal! complete this acquisition within one year from the date of this Agreement. Village shall also apply promptly to the Ohio Department of Development {"ODOD") for funding of all or a portion of the cast of the Roadway. Progressive and Village shall share equally all assessments for the portion of the Raadway from White Road and SOM Center to the southern end of the Progressive parcel formerly owned by Friedman. Such sharing of costs will be 50150 regardless of whose property abuts the Roadway and/or utilities. The costs assessed will be net of any ODOD or other financing assistance and will include costs of utilities infrastructure for that portion, including electric, gas, telephone, water and sewer. Village shall complete on of the Roadway's SOM Center Road curb cut and that portion of the Roadway needed for access to the Development no later than December 3~ , ~oa~ . As to Progressive's obligations under Section 3 for all aforementioned public improvements, Progressive will have the option of paying its obligation when due or having same assessed against the Progressive property.