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3.9 City Response Procedure. The timeliness of the City's response to submittals for <br /> financing and construction issues is crucial to Developer's ability to meet the Performance <br /> Milestones. Accordingly, unless otherwise provided herein, the City shall respond to Developer <br /> within eight(8)business days of the City's receipt of documents required under this Agreement to be <br /> reviewed and/or approved by the City. <br /> 3.10 City Obligations Related to Property Taxes. The Parties understand the need and �! <br /> appropriateness to address issues related to tax assessments and shall work together in good faith to <br /> address such issues;provided,however,that the foregoing is not intended to limit the City's rights to <br /> require the Revitalization to pay taxes in accordance with the City's existing procedures. , <br /> ARTICLE 4. REVITALIZATION RESPONSIBILITIES OF DHA. <br /> In addition to its other obligations hereunder, DHA shall have the following <br /> responsibilities with respect to the Revitalization. The Parties intend that any amendments <br /> regarding additional phases of the Revitalization shall be generally consistent with the following <br /> provisions. <br /> 4.1 Phase I Site. The Phase I Site is comprised of certain scattered-site public housing <br /> sites owned and operated by the DHA described on Exhibit I("DHA Parcels")and the City Parcels <br /> to be conveyed to DHA.DHA shall convey to Developer,or any Owner Entity it shall designate for <br /> the Phase I Rental Component,a long term leasehold interest acceptable to the tax credit investor in <br /> the Phase I Site("Master Ground Lease")which,in the opinion of tax counsel to the Developer,is <br /> at least sufficient to create an ownership interest therein for federal income taxation purposes <br /> ("Title")pursuant to Conveyance Documents contemplated in Section 6.3 hereof.As an alternative <br /> to the Master Ground Lease,the DHA and the Developer may agree to enter into multiple long term <br /> ground leases each encompassing one or more Components separately, or the Components, or <br /> portions thereof,may be sub-ground leased by the Developer to an Owner Entity it shall designate, <br /> pursuant to one or more long term sub-ground leases. <br /> With respect to the portion of the Phase I Site on which the Homeownership Units shall be <br /> constructed ("Phase I Homeownership Site"), the DHA will take such steps as are necessary to <br /> cause a fee interest in the applicable lot to be transferred directly to the purchaser thereof. <br /> Prior to conveyance of Title,the Phase I Site(or any portion thereof so conveyed)shall be in <br /> a Clean and Buildable Condition. For the purposes of the DHA Parcels, "Clean and Buildable <br /> Condition" shall mean that the requirements of Sections 4.1.1 through 4.1.4 shall have been met. <br /> DHA shall convey Title to the Phase I Site(or portions thereo fl to the Developer within a time frame <br /> that facilitates the Revitalization Schedule. DHA, with the assistance of Developer, shall be <br /> responsible for preparing any and all Disposition Applications to HUD required to effectuate the . <br /> foregoing. <br /> 4.1.1 State of Title. DHA shall provide good and marketable Title to the DHA <br /> Parcels comprising the Phase I Site to the entity designated hereunder to take Title. Prior to any <br /> conveyance of Title hereunder,DHA shall deliver to the Developer an ALTA survey,prepared by a <br /> surveyor licensed in the State of Illinois, showing the boundaries of the Phase I Site, all recorded <br /> Decatur Housing Authority Near North Impact Area Development Agreement <br /> Page 18 <br />