3.5. HRSR 04-28-2003 - Laserfiche WebLink

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MetroPlains Project, including anticipated tax increment or other financial assistance • from the HRA, if applicable. The parties recognize that a final Redevelopment Agreement may involve HRA assistance in the assembly and acquisition of real property for the MetroPlains Project, including the exercise of eminent domain powers in accordance with, subject to and as may be permitted by applicable law. During the Term, the HRA agrees that it will not enter into or negotiate a similar development or redevelopment agreement with any developer or redeveloper other than MetroPlains for a project within the Exclusive Site and that it will not agree with any such alternate developer to provide tax increment or other financial assistance, eminent domain assistance, or other assistance in connection with any development or redevelopment undertaken within the Exclusive Area with any party other than MetroPlains. (c) As the plans of MetroPlains for the MetroPlains Project shall evolve, MetroPlains shall hold a public meeting and open house to present such plans to the public and to solicit public input on those plans before any final Redevelopment Agreement can be finalized. (d) While the HRA acknowledges that tax increment financing and/or lawful eminent domain powers may need to be exercised in order to make any MetroPlains - Project feasible and possible, a final commitment in those areas, as well as any other final commitments respecting the HRA's role in or assistance to the MetroPlains Project, can only come if and when a final Redevelopment Agreement is approved and executed by the HRA's duly authorized representatives, following approval thereof by the HRA Board • of Commissioners in its sole and absolute discretion. Similarly, the HRA understands that unless and until MetroPlains executes a final Redevelopment Agreement, it has not made any final commitment with respect to undertaking or completing the MetroPlains Project. (e) It is understood that the plans for the MetroPlains Project must be submitted in accordance with all City design guidelines and planning and zoning requirements, subject to such conditional use permits, planned unit developments, variances and other procedures and processes which may be available pursuant to applicable local codes. The list of current City development fees which may (or may not) apply to the MetroPlains Project is attached hereto as Exhibit B. Actual amounts will be determined at the time of formal application and project approval where applicable. (0 During the Term, in connection with discussing and attempting to agree a final Redevelopment Agreement, the HRA and MetroPlains wil l need to g ree i upon final site boundaries for the MetroPlains Project, and the HRA in its discretion will be examining with the City the appropriate boundaries of any tax increment financing district or "project area" relative to that tax increment financing district. (g) MetroPlains has deposited with the HRA $15,000 which may be used to pay certain expenses incurred by the HRA or the City in reviewing, responding to or analyzing the MetroPlains Project proposals. These eligible expenses would not include HRA/City staff time but would include HRA/City legal fees for work on this Agreement • and the Redevelopment Agreement, financial consulting fees related to analyzing the 1457233v4 2