Laserfiche WebLink
<br />~~iD <br /> <br />City (the "Improvement Agreement") and furnished City the security required <br />therein; and <br /> <br />WHEREAS, among other requirements, the Improvement Agreement <br />requires that lAC construct certain off-site infrastructure improvements, <br /> <br />including the Improvements; and <br /> <br />WHEREAS, for purposes of this Agreement, lAC and the Agency have <br />determined and agree that the estimated cost of the Improvements is the total <br /> <br />cost as shown on Exhibit "A" attached hereto, and that the entirety of the cost <br />thereof should not be borne by IAC; and <br /> <br />WHEREAS, on May 22, 2000, IAC formally made its Election to Proceed <br />under the IAC DDA, funded the Acquisition Budget, and furnished the Agency <br /> <br />security in an amount which included the estimated cost of the Improvements; <br />and <br /> <br />WHEREAS, Agency intends to seek to recover from Shea, or subsequent <br />developers of the Shea Project Site if Shea does not proceed with the Project, the <br /> <br />amount of any reimbursement granted under this Agreement; and <br /> <br />WHEREAS, the Agency has sufficient funds available within its budget to <br />fund the level of reimbursement authorized herein; and <br /> <br />WHEREAS, IAC and the Agency desire to enter into an agreement <br />providing for Agency's reimbursement to IAC of an amount equal to the lesser of <br /> <br />-3- <br /> <br />Form dated: 6/19/00 <br />