Reso 2009-1421 - Laserfiche WebLink

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~!)y:~ . (~ ../ ">< ~:.~~/< ' execution ofa Joint Development Agreement. Dezer Development shall provide to the"City" .." letter of commitments from tinancial institutions to demonstrate financial ability to build the Project to completion. Dezer Development will furnish financial and non-financial security during the construction. as appropriate and upon request. to the City. 4. Ground Lease Al!.reement. 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'Wo (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. If the Certificate of Occupancy is not issued within four (4) years of the issuance ofa building permit. the Ground Lease shall commence on the beginning of the filth (5th) year following the issuance ofa building permit. 5. Development Approvals. Prior to submission of the Project for development approval by the City. Dezer Development shall submit the tinal 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 staff support and other assistance upon request to Dezer Development in connection with the execution of the Project. 6. Parkinl!. Garae:e. 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 tind 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 Dezer 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. Assil!.nment. This Letter oflntent is not assignable unless with the consent of either party which consent will not be unreasonably withheld. Notwithstanding the foregoing. it is understood and agreed to by the parties that the lea~ehold interest of Dezer Developmtnt