R2013-87 AUTHORIZING EXECUTION OF A REDEVLOPMENT AGREEMENT Southside

Home Browse Search

f. Approvals. A certificate by the manager or authorized officer of the Redeveloper, as the case may be, that all of the approvals necessary to proceed with the Police Facility and the Street Improvements as intended herein have been obtained including the approval of this Agreement 6.2 Conditions Precedent to This Agreement. This Agreement is subject to the adoption by the City of Tax Increment Financing for the Redevelopment Project Area and, if the City does not adopt Tax Increment Financing, this Agreement shall terminate and become null and void with neither party having any obligations to the other. ARTICLE VII: REDEVELOPER COVENANTS AND RESTRICTIONS 7.1 Police Facility Subject to Redevelopment Plan and Agreement. The Redeveloper agrees to comply with the terms and conditions of this Agreement and to use its best efforts to construct the Police Facility subject to the terms, covenants, building and use restrictions, and other conditions in the Redevelopment Plan and this Agreement. 7.2 Non-discrimination. The Redeveloper shall not discriminate in violation of any applicable federal,state or local laws or regulations upon the basis of race,color,religion, sex, age, or national origin or other applicable factors in the sale, lease or rental, or in the use or occupancy of the Police Facility or any part thereof. 7.3 Property Taxes. The Redeveloper covenants that in the event it applies for, seeks, or authorizes any exemption from the imposition of general real property taxes on the Police Facility Site or the Police Facility, or any portion thereof the Redeveloper shall give the City thirty(30) days prior written notice thereof. Also,nothing herein shall be construed so as to prevent the Redeveloper from otherwise contesting the assessment or collection of any real property taxes under procedures set forth in the laws of the State of Illinois or any political subdivision thereof, provided that the Redeveloper gives the City fifteen (15) days prior written notice of its intent to contest the assessment or collection of real property taxes; provided, however, that the Redeveloper covenants and agrees that nothing contained herein shall relieve the Redeveloper from complying with all laws, rules and regulations of the State of Illinois and any political subdivision thereof pertaining to the levy and collection of said general real estate taxes. This Section 7.3 shall be an obligation of the Redeveloper (or assignee of the Redeveloper or subsequent Owner of the Police Facility and the Police Facility Site or any portion thereof, as the case may be)only during the period that the Redeveloper(or assignee of the Redeveloper or subsequent Owner of the Police Facility and/or the Police Facility Site or any portion thereof, as the case may be) owns a direct or indirect interest in the Police facility or the Police Facility Site or any portion thereof. 7.4 Duration of Covenants. It is intended and agreed that the covenants provided in Sections 7.1 and 7.3 of this Agreement shall remain in effect until the earlier of (i) termination of the Redevelopment Plan,or(ii)December 31, 2036 and that the covenants provided in Section 7.2 hereof shall remain effective without any time limitation; provided, that all such covenants shall be binding on the Redeveloper only for such period as the Redeveloper maintains a direct interest in the Police Facility Site or the Police Facility or part thereof(excluding, for example, an interest therein solely as a creditor or mortgagee), and only with respect to such direct interest in the Police Facility Site or the Police Facility or part thereof. 11