AgdaPkt 2020-04-27 Joint SA PFA - Laserfiche WebLink

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6.C. - Page 8 of 57 on which the City Council adopts a Resolution accepting the applicable TIF Eligible hnprovement(s) pursuant to Section 13.1 of this Agreement. The post -completion accounting report shall: 12.4.1 Describe with particularity each of the TIF Eligible Improvements (or portion thereof) for which Developer has received a Provisional TIF Credit; and 12.4.2 Set forth by line item Developer's actual out-of-pocket costs paid to unaffiliated third parties in comrection with the construction and installation of each of the applicable TIF Eligible Irnprovements (or portion thereof) ("Eligible TIF Work Costs"). Internal project management and administrative costs and expenses, including amounts paid to affiliates of Developer, if any, shall not be considered Eligible TIF Work Costs and shall not be counted for purposes of calculating the Actual TIF Credit; and 12.4.3 Identify any true -up amount to be paid by City to Developer, or Developer to City, in light of the actual amount of Eligible TIF Work Costs. 12.5 City shall not unreasonably withhold or delay its approval of the post -completion accounting report. If the post -completion accounting report, as approved by City, demonstrates that the Actual TIF Credit, as calculated based on the actual Eligible TIF Work Costs (or percentage of Eligible TIF Work Costs, if applicable), exceeded the Provisional TIF Credit, City shall snake a true up payment of the difference to Developer within 30 days of City's approval of the report. If the post -completion accounting report demonstrates that the Provisional TIF Credit exceeded the Actual TIF Credit, then Developer shall make a true up payment of the difference to City within 30 days of City's approval of the report. 12.6 Notwithstanding any provision of this Agreement or Applicable Law to the contrary, the Actual TIF Credit available to Developer in connection with the Project shall not exceed fifty percent (50%) of the lesser of (a) the Eligible TIF Work Costs paid by Developer and (b) the Estimated Cost of the TIF Work. Developer shall not be entitled to reimbursement to the extent the amount of the Actual TIF Credit exceeds the total amount of applicable Transportation Impact Fees otherwise due in connection with the Project. 13. Final Acceptance, 13.1 Notice of Completion. Within thirty (30) days of receipt of Developer's written notification pursuant to Section 11 above, the City Engineer shall inspect the Work and repairs and review the written acceptances, if any, and send Developer a written notice stating whether the Work and repairs are complete to the satisfaction of the City Engineer, in his reasonable discretion, and whether the written acceptances have been provided. If the Work and repairs are, in the opinion of the City Engineer, not complete and satisfactory, and/or written acceptances have not been provided, the City Engineer will list the deficiencies that must be corrected to find the Work and repairs complete and satisfactory. Upon (i) satisfactory completion of the Work and repairs and submittal of written acceptances, (ii) City's approval of Developer's post - completion accounting report as provided in Section 12.4 above, and (iii) Developer's payment of the true up amount owed to City, if any, as provided in Section 12.5, above, the City Engineer will send Developer a written notice of satisfactory completion. The requirement for written ATTYIAGR/2015.107fGREYSTAR - 103 WILSON - IA WITH TIF CREDIT REV: 05-28-15 VR Page 5 of 27