R2005-49 AUTHORIZING DEVELOPMENT AGREEMENT Near North

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applicable HLTD requirements. The parties acknowledge and agree that,in the event of a conflict or inconsistency between the applicable Public Housing Requirements and any requirement set forth in this Agreement,the applicable Public Housing Requirements shall in all instances be controlling. To the extent that there is any ambiguity between the Contract Documents and either the HOPE VI Grant Agreement and/or applicable HUD requirements, the latter shall control over the former. 1.3 Engagement. Subject to the terms and conditions of the Contract Documents,DHA and the City hereby appoint Developer as the developer for the Revitalization of the Phase II Rental Site and Phase III Rental Site,and Developer accepts appointment as developer for the Phase II Site and Phase III Rental Site. The parties hereto acknowledge that it is the intent of the parties that Developer develop additional homeownership units,subject to(i)the predevelopment contingencies described in Sections 8.7, 8.7.1 and 8.7.2,of this Agreement,including,but not limited to,mazket demand and availability of fmancing and subsidies, and (ii) the City's reserved rights and requirements as set forth in Sections 2.2.3 and 2.3.3 of this Agreement. 1.4 The Revitalization. DHA, the City and the Developer aze entering into this Agreement in order to effect the Revitalization of the Phase II Site and Phase III Site ("Revitalization")and contribute to the revitalization of the Impact Area. The Revitalization shall consist of the Components described in Exhibit C. DHA acknowledges that the City intends,as part of the Impact Area development to develop community facilities and/or other components dedicated to recreational uses. The DHA and Developer's joint understandings as to the Revitalization and the Components thereof are established in the Revitalization Plan. DHA will be responsible for obtaining any required approval of HLJD for changes to the Revitalization Plan. In negotiating with HUD, DHA will consult with the Developer and the City prior to changing any milestones significant to their respective roles in the Revita.lization. The Revitaliza.tion Plan may subsequently be amended in consultation with the Developer and the City and, if required,with the approval of HUD. Subsequent to the joint understanding of the Revita.lization Plan,Developer and/or the City shall not be bound by any modifications or amendments to said Revitalization Plan that have material operational or material economic impact upon Developer and/or City, unless said modifications or amendments have been agreed to by the City and/or the Developer,as appropriate. Nothing in the Revitalization Plan shall pre-empt the City's right to amend the land use plan in order to optimize the amenities necessary to a quality development so long as the use is approved by HUD,DHA and the Developer. Any Component may,in the discretion of the Developer,and with the approval of DHA and the City,be developed in one or more phases,provided,further,that one or more phases may be developed simultaneously. 1.5 Cooperation. The Parties shall cooperate with one another in good faith to consummate successfully the Revitalization. There shall be development meetings at least once per month that include the Developer or designee,the Executive Director of the DHA or designee,the City Manager or designee,and appropriate development and planning professionals representing the Parties. Such cooperation shall include reasonable efforts to respond to one another as expeditiously as possible and in as reasonable a manner as possible with regazd to requests for information or approvals required hereby. With regard to materials or documents requiring the approval of one or more Parties, if such materials or documents aze not approved as initially submitted, then the Parties shall engage in such communication as is necessary under the 3 INDY 1566592v.2