Reso 2008-1319 - Laserfiche WebLink

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4. Ground Lease A2reement. The Ground Lease Agreement shall commence upon issuance of a Certificate of Occupancy for the Project and shall terminate thirty (30) years from execution and shall automatically renew for t\\-o (2) additional thirty (30) year renewal periods, followed by a third automatic nine (9) year renewal period. The Ground Lease shall be executed simultaneously with the Joint Development Agreement. Dezer Development shall pay an initial annual ground rent, which shall be $350,000.00. The ground rent shall be subject to annual increases in accordance with the Consumer Price Index as published by the United States Department of Labor. Such increases shall not exceed three percent (3%) per year. I fthe Certificate of Occupancy is not issued within four (4) years of the issuance of a building permit, the Ground Lease shall commence on the beginning of the fifth (5th) year following the issuance of a building permit. 5. Development Approvals. Prior to submission of the Project for development approval by the City, Dezer Development shall submit the final plans, specifications, and working drawings for the design and construction of the Project for review and approval by the City staff. The City shall fully cooperate with Dezer Development and sign all documents, if any. for the purpose of securing development approvals from governmental agencies which includes the City. The City will provide staffsupport and other assistance upon request to Dezer Development in connection with the execution of the Project. 6. Parkin2 Gara2e. In the event that the Project is in need of parking spaces to satisfy the parking requirement under the City Code, the City shall use its best efforts to acquire land for a parking garage with at least 250 spaces. The parking garage shall be located within 250 feet of the Project. If the City is not able to find a willing Seller to acquire land for a parking garage, the City will look at the feasibility of building a parking garage at the government center. Dezer Development shall be responsible for constructing the parking garage. The City shall be responsible for designing and financing the parking garage. The City and Dezcr Development shall enter into a Parking Lease which terms and conditions will be negotiated. 7. Waiver of Development Fees. The City will waive Dezer Development's obligation to pay project-related fees and charges that are due and payable to the City. 8. Public Use. For so long as the Ground Lease is in effect, Dezer Development shall maintain the public uses within the Project. These public uses include but are not limited to the conference center, medical offices/facilities, and the car museum. Dezer Development shall provide the City with the use of the conference center for at least nine (9) days per year at no charge. However. the City will be responsible for the actual costs of food and beverage and labor including, but not limited to, set up, service, break down and cleanup. 9. Assi2nment. This Letter of Intent is not assignable unless 'vvith the consent ofeither party which consent will not be unreasonably withheld. Notwithstanding the foregoing, it is understood and agreed to by the parties that the leasehold interest of Dezer Development