Res 2015-091/approving a Chapter 380 Economic Development Incentive Agreement with Humpty Dumpty SSM, Ltd. for the redevelopment of Springtown Shopping Center

Home Browse Search

the City relied in entering into this Agreement; (ii) upon which the City relies in making a Grant Payment to the Owner; or (iii) as an inducement for the City to make a Grant Payment to the Owner. Section 5.04. Other Remedies. Upon breach of any obligation under this Agreement, in addition to any other remedies expressly set forth in this Agreement with respect to such breach, the City may pursue such remedies as are available at law or in equity for breach of contract. Similarly, with regard to violations of applicable ordinances of the City, the City may seek such relief as is available for violation so such ordinances, including fines and injunctive relief. Section 5.05. Offset. The City may deduct from any Grant Payments, as an offset, any delinquent and unpaid fees, sums of money or other fees, charges or taxes assessed and owed to or for the benefit of the City by the Owner. Section 5.06. Force Majeure. A force majeure event means an event beyond the reasonable control of a party obligated to perform an act or take some action under this Agreement including, but not limited to, acts of God, earthquake, fire, explosion, war, civil insurrection, acts of the public enemy, act of civil or military authority, sabotage, terrorism, floods, lightning, hurricanes, tornadoes, severe snow storms or utility disruption, strikes, lockouts, major equipment failure or the failure of any major supplier to perform its obligations. Section 5.07. Status of Signs and Waivers Upon Termination. Upon termination of this Agreement, the Owner agrees that the waivers of standards under the LDC granted by the City shall automatically expire and no signs or improvements may be installed after the date of termination except as permitted under the provisions of the LDC or successor ordinances and regulations then in effect. Section 5.08. Fast Track Permitting. City shall review Springtown permit applications on a "fast track" basis using a one - stop -shop review process. ARTICLE 6. INFORMATION Section 6.01. Information. The Owner shall, at such times and in such form as the City may reasonably request from the City, provide information concerning the performance of the City's obligations under this Agreement. Section 6.02. Annual Compliance Certification. Beginning in calendar year 2016 and continuing each calendar year thereafter during the Term, the Owner shall submit to the City, on or before March I of each such year, a duly executed Compliance Certificate in substantially the form attached as Exhibit "C" certifying that the Owner is in full compliance with its obligations under this Agreement or, if not in full compliance, a statement disclosing the nature of any non- compliance and any reasons therefor. After receiving a timely submitted Compliance Certificate, the City shall have 30 days to notify the Owner in writing of any questions that the City may have concerning any of the information in the Compliance Certificate, and the Owner shall diligently work in good faith to respond to such questions to the City's reasonable satisfaction.