ERMUSR MISC 12-11-2007 - Laserfiche WebLink

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C-,~~. NOW, THEREFORE, in consideration of the foregoing premises and for the good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it is agreed as follow: 1. Recitals. The foregoing recitals are true and correct and hereby made a part of this Agreement. 2. Responsibility for Legislation. The Cooperative will be responsible for all of its own costs, expenses, and activities related to obtaining the Legislation from the Minnesota Legislature. Except as set forth in Section 3 below, the City will not have any responsibility for preparing, lobbying for, or otherwise pursuing the Legislation. 3. City Cornrnitment. The City agrees that it will provide confirmation of its support for the Project, to the legislators representing constituents residing in the City and any other legislators inquiring of the City. If Legislation is enacted, the City agrees to support the Cooperative in defending against any attempt to repeal the Legislation. 4. In-lieu Payments. The Cooperative shall make a X375,000 annual in-lieu payment to the City for the first five years of plant operation. The first annual in-heu payment shall be due one year from the date the Project is approved for commercial operation. The remaining four payments shall be paid on or before the same date in subsequent years, provided the Cooperative continues to receive the benefits of the personal property tax exemption. 5. Other payments. The Cooperative shall make an annual in-lieu payment to the City of ~---- 0.20 per megawatt-hour generated by the Project for five years of plant operation. T'he calculation shall be based on the actual generation produced in the previous calendar year and such payment shall be made at the same time as the payment described in Item #4 above. A maximum annual cap of 35,000 will apply to this payment 6. Other Considerations. The City needs to obtain not less than 1.4 acres of Cooperative property located adjacent to the City's wastewater treatment facility xhibit 1 The Cooperative agrees to provide not less than 1.4 acres of land to facilitate future expansion of the wastewater treatment facility, the precise size and length of the land to be agreed on by the parties. The land to be provided will be conveyed to the City within one year of the City's notice to Cooperative on its need for the land. The City shall not give this notice with-until four years after e€-the date of this Agreement, unless within those four years the City determines that it will be necessary to expand it's wastewater treatment facility tie--earlier to meet the City's needs and there is no feasible or prudent alternative to expand on the Cooperative land. The transfer of this land requires the Cooperative to relocate some outdoor equipment storage to -another location on its propetty which is northeast of the wasterwater treatment facility (Exhibit 1~ "This new storage locatton will require re-zoning and improvements to support that acttvity. The Cooperative and the City will diligently pursue the re zoning to facrlrtate the transfer of property to the ('itT