2026-014 Ordinance - Laserfiche WebLink

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to, any school compensation agreement and the Tax Increment Financing Agreement; (c) the Development Plan for the Project shall be approved by the City pursuant to the MAMU Ordinance and in accordance with this Agreement; and (d) all necessary building and other permits have been issued by the City in connection with construction and development of the Project. "MAMU Ordinance" means Chapter 1150 of the Codified Ordinances of the City, as adopted on June 10, 2025. "MAMU Overlay District" means the Mall Area Mixed Use Overlay District established by the MAMU Ordinance. "Public Improvements" means those certain public streets, land, sidewalks, improvements, materials, grading, site work, fixtures, retaining walls, sewers, utilities, demolition, environmental remediation and other public infrastructure that will benefit and serve the Development, and all real property interests relating thereto. "School District" means the North Olmsted City School District, Ohio. "Service Payments" means service payments in lieu of taxes in an amount equal to the amount of real property taxes that would have been paid on the TIF Property were it not for the tax exemption granted by TIF Ordinances pursuant to and in accordance with Ohio Revised Code Section 5709.42. "Settlement Payments" means the Service Payments, less any fees charged with respect thereto by the County, actually received by the City. "Tax Increment Financing Agreement" means any cooperative or tax increment financing agreement entered into in connection with the Development by the City, Developer, any Affiliate of the Developer, or any other party to the financing of the Development, as such agreement may be amended from time to time, such cooperative or tax increment financing agreements to be consistent with the terms and conditions of this Agreement unless otherwise agreed to in writing by the parties. "TIF Ordinance" has the meaning set forth in Section 5.2. "TIF Property" means the portions of the Development Site that are subject to the TIF Ordinance. "TIF Statutes" means, collectively, Ohio Revised Code Sections 5709.40, 5709.41, 5709.42 and 5709.43. Section 1.3 Interpretation. All Section headings and other titles and captions herein are for convenience only, do not form a substantive part of this Agreement, and do not restrict or enlarge any substantive provisions hereof. The term "including," when used in this Agreement, means "including, without limitation," and shall be construed as a term of illustration, and not a term of limitation. Whenever reference is made to a number of "days" in the computation of time hereunder, such reference shall mean "calendar days" unless otherwise indicated. Wherever any period of time is specified herein for the taking of any action or the giving of any notice, the -4- 19575939-4