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R2013-87 AUTHORIZING EXECUTION OF A REDEVLOPMENT AGREEMENT Southside
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R2013-87 AUTHORIZING EXECUTION OF A REDEVLOPMENT AGREEMENT Southside
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8/17/2015 9:15:25 AM
Creation date
8/17/2015 9:15:20 AM
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Resolution/Ordinance
Res Ord Num
R2013-87
Res Ord Title
AUTHORIZING EXECUTION OF A REDEVELOPMENT AGREEMENT - SOUTHSIDE REDEVELOPMENT PROJECT AREA - POLICE FACILITY
Department
Police
Approved Date
8/19/2013
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Police Facility will be or is free of faulty materials or workmanship, or a waiver of any <br /> right the City or any other party may have against the Redeveloper or any other party for <br /> noncompliance with the Construction Plans, Criteria Document, building or life safety <br /> codes or any other ordinances of the City or the terms of this Agreement. <br /> 2.11 Coordination with Street Improvements. The parties agree that the design and <br /> construction of the Police Facility shall be coordinated with the design and construction <br /> of the Street Improvements including ingress and egress. <br /> ARTICLE III: ZONING <br /> 3.1 Zoning. It is contemplated by the City and the Redeveloper that the Police Facility Site <br /> shall have a zoning classification which will permit the use of the Police Facility Site as <br /> intended by this Agreement and which is in conformance to the General Land Uses set <br /> forth in the Redevelopment Plan. The parties agree that the current zoning for the <br /> property will allow the Police Facility Site to be used as intended and will cooperate with <br /> each other to obtain any title insurance policy zoning endorsement or other <br /> documentation in respect thereto as may be required by any lender to or tenant of the <br /> Proj ect. <br /> ARTICLE IV: LEASE OF THE POLICE FACILITY AND THE POLICE FACILITY SITE <br /> 4.1 Lease of the Police Facility and the Police facility Site. The City agrees to lease from <br /> the Redeveloper and the Redeveloper agrees to lease to the City, the Police Facility and <br /> the Police Facility Site by executing a lease in the form attached hereto as Exhibit 2. <br /> 4.2 City to Provide FF&E. The City shall provide, at its sole cost and expense, any <br /> furniture,fixtures and equipment not set forth in the Criteria Document, including lockers <br /> and technology, communications and security equipment required for the Police Facility <br /> ("FF&E"). The FF&E shall remain the property of the City and the City shall have the <br /> sole responsibility to maintain and replace such FF&E;provided that upon termination of <br /> the Police Facility Lease ownership of such FF&E shall vest in the City. <br /> 4.3 Acquisition of Real Property. The Redeveloper covenants that the Redeveloper has <br /> acquired fee simple title to the Police Facility Site free and clear of all encumbrances <br /> except for any mortgage related to the acquisition of the Police Facility Site. <br /> 4.4 Title Commitment. <br /> 4.4.1 Title Commitment and Policy. The Redeveloper, at the Redeveloper's sole cost <br /> and expense, shall,within thirty(30)days after Effective Date provide to the City <br /> a title commitment (the "Title Commitment") for the Police facility Site, an <br /> ALTA Form B City's Title Insurance Policy (the "Title Policy"), issued by <br /> Chicago Title Insurance Company (the "Title Insurer"). At Closing, the City <br /> shall cause the Title Insurer to issue the Title Policy in the amount of One <br /> Million ($1,000,000) Dollars showing merchantable record title to the Police <br /> Facility Site to be in the Redeveloper,subject only to the Permitted Objections. <br /> (a) Objections to Title of Record. Within seven (7) days after the City's <br /> receipt of the aforesaid Title Commitment, the City shall furnish to the <br /> Redeveloper written notification of any objections to or defects in title of <br /> 8 <br />
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