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10-25-01 6. DEVELOPMENT AGREEMENT
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Dunbar Sr. Hsg. - Finance Doc's - Mike Gaffron File Cabinet 1
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10-25-01 6. DEVELOPMENT AGREEMENT
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Last modified
8/22/2023 4:55:34 PM
Creation date
10/4/2021 10:21:27 AM
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x Address Old
House Number
2040
Street Name
Wayzata
Street Type
Boulevard
Street Direction
West
Address
2040 Wayzata Boulevard West
Document Type
Land Use
PIN
3411823210036
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Updated
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(e) Financial, legal, accounting, printing and engraving fees, charges and <br /> expenses and all other such fees, charges and expenses incurred in connection with the <br /> authorization, sale, issuance and delivery of the Housing Bonds and Subordinate <br /> Housing Note including, without limitation, the fees and expenses of the City and <br /> HRA and the fees and expenses of the trustee, the paying agent, the registrar and the <br /> authenticating agent properly incurred under the Financing Documents that may <br /> become due and payable during the construction period. <br /> (0 Any other costs, expenses, fees and charges properly chargeable to the <br /> cost of acquisition, construction, installation and equipping of the Project. <br /> (s) PUD Agreement. The Agreement dated <br /> 2001 between the Developer and the City relating to development of the Development <br /> Property and an adjacent parcel as a planned unit development. <br /> (t) Subordinate Housing Note. The Subordinate Multifamily Senior Housing <br /> Note (Orono Woods Project), Series 2001C to be issued pursuant to Section 3.1 hereof and <br /> the financing Documents. <br /> (u) Tax Increment Financing District (TIF District). Tax Increment Financing <br /> District No. 1-1 consisting of the Development Parcel, created by the HRA pursuant to the <br /> TIF Act and described in the TIF Plan adopted therefor. <br /> (v) Tax Increment Financing Plan(TIF Plan). The plan for development of the <br /> TIF District adopted by the HRA pursuant to the TIF Act. <br /> (w) Tax Increment Note or TIF Note. The Note to be issued by the HRA pursuant <br /> to Section 6.1 hereof and which is substantially in the form of Exhibit C hereto. <br /> (x) Term. The period beginning on the date of this Agreement and ending on <br /> February 1, 2022; provided, however, that the Term shall not extend beyond the termination <br /> date of the TIF District under the TIF Act or the date, if any, of cancellation or recission of <br /> this Agreement under Section 7.2(a) hereof. <br /> (y) TIF Act. Minnesota Statutes, Sections 469.174 through 469.179. <br /> (z) Unavoidable Delays. Delays which are the direct result of strikes, fire, war, <br /> material shortage, causes beyond the party's control or other casualty, or acts of any federal, <br /> state or local government unit, except those acts anticipated or contemplated under this <br /> Agreement. <br /> 5 <br />
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