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on which the City Council adopts a Resolution accepting the applicable TIF Eligible <br /> Improvement(s) pursuant to Section 13 . 1 of this Agreement. The post-completion accounting <br /> report shall: <br /> 12.4. 1 Describe with particularity each of the TIF Eligible Improvements (or <br /> portion thereof) for which Developer has received a Provisional TIF <br /> Credit; and <br /> 12.4.2 Set forth by line item Developer's actual out-of-pocket costs paid to <br /> unaffiliated third parties in connection with the construction and <br /> installation of each of the applicable TIF Eligible Improvements (or <br /> portion thereof) ("Eligible TIF Work Costs"). Internal project <br /> management and administrative costs and expenses, including amounts <br /> paid to affiliates of Developer, if any, shall not be considered Eligible <br /> TIF Work Costs and shall not be counted for purposes of calculating the <br /> Actual TIF Credit; and <br /> 12.4.3 Identify any true-up amount to be paid by City to Developer, or <br /> Developer to City, in light of the actual amount of Eligible TIF Work <br /> Costs. <br /> 12.5 City shall not unreasonably withhold or delay its approval of the post-completion <br /> accounting report. If the post-completion accounting report, as approved by City, demonstrates <br /> that the Actual TIF Credit, as calculated based on the actual Eligible TIF Work Costs (or <br /> percentage of Eligible TIF Work Costs, if applicable), exceeded the Provisional TIF Credit, City <br /> shall make a true up payment of the difference to Developer within 30 days of City's approval of <br /> the report. If the post-completion accounting report demonstrates that the Provisional TIF Credit <br /> exceeded the Actual TIF Credit, then Developer shall make a true up payment of the difference to <br /> City within 30 days of City's approval of the report. <br /> 12.6 Notwithstanding any provision of this Agreement or Applicable Law to the <br /> contrary, the Actual TIF Credit available to Developer in connection with the Project shall not <br /> exceed fifty percent (50%) of the lesser of (a) the Eligible TIF Work Costs paid by Developer and <br /> (b) the Estimated Cost of the TIF Work. Developer shall not be entitled to reimbursement to the <br /> extent the amount of the Actual TIF Credit exceeds the total amount of applicable Transportation <br /> Impact Fees otherwise due in connection with the Project. <br /> 13. Final Acceptance. <br /> 13.1 Notice of Completion. Within thirty (30) days of receipt of Developer's written <br /> notification pursuant to Section 11 above, the City Engineer shall inspect the Work and repairs <br /> and review the written acceptances, if any, and send Developer a written notice stating whether <br /> the Work and repairs are complete to the satisfaction of the City Engineer, in his reasonable <br /> discretion, and whether the written acceptances have been provided. If the Work and repairs are, <br /> in the opinion of the City Engineer, not complete and satisfactory, and/or written acceptances <br /> have not been provided, the City Engineer will list the deficiencies that must be corrected to find <br /> the Work and repairs complete and satisfactory. Upon (i) satisfactory completion of the Work <br /> and repairs and submittal of written acceptances, (ii) City's approval of Developer's post- <br /> completion accounting report as provided in Section 12.4 above, and (iii) Developer's payment of <br /> the true up amount owed to City, if any, as provided in Section 12.5, above, the City Engineer <br /> will send Developer a written notice of satisfactory completion. The requirement for written <br /> ATTY/AGR/2015.107/GREYSTAR - 103 WILSON - IA WITH TIF CREDIT Page 5 of 27 <br /> REV: 05-28-15 VR <br />