Res 2008-170 - Laserfiche WebLink

Home Browse Search

statutory provision. Consequently, notwithstanding any other provision of this Agreement, the City shall have no obligation or liability to pay any Grant Payments or other payments unless the City appropriates funds to make such payments during the City's fiscal year in which such. Grant Payment(s) or other payments are payable and upon. timely compliance by the Developer with the terms of this Agreement. If the City fails to appropriate funds for Grant Payments under this Agreement during any fiscal year of the City during the term of this Agreement, the Developer, at its option, may terminate this Agreement by providing written notice thereof to the City. If the Developer elects to terminate the Agreement under this section, Developer and the City shall each be released of all further obligations under this Agreement, except that the City shall pay to the Developer any outstanding and unpaid Grant Payments properly due to the Developer prior to the date of termination for which the City has appropriated funds during any previous fiscal year. ARTICLE VIII INFORMATION The Developer shall, at such times and in such form as City may request from the Developer, provide information concerning the status of the performance of the Developer's obligations under this Agreement, including as follows: SECTION 8.1. ANNUAL REPORTS RELATED TO CONSTRUCTION, JOBS, AND COMPLIANCE WITH AGREEMENT. During the term of this Agreement, the Developer shall submit annual reports in substantially the form attached as exhibit "C", signed by an officer or appointed agent of the Developer, to the City that state, as of a date certain, the total number of square feet of New Buildings (including, separately, Qualified Improvements) constructed in the prior year and cumulatively since the Effective Date and the tax assessed value and Real Estate Taxes attributable thereto, the total number of Jobs created at the Land in the prior year and cumulatively since the Effective Date, and. certifying as to full compliance with Developer's obligations hereunder, including with respect to compliance with applicable laws. Upon receipt of any such certificate, the City shall have sixty (60) calendar days to notify the Developer in writing of any questions that the City may have with any of the information provided by the Developer, and the Developer shall diligently work in good faith to respond to such questions to the City's reasonable satisfaction. The Developer and the City Manager may agree in writing to variations in the form attached as Exhibit "C" provided the information in this section required to be reported is reported and certified by the Developer in writing to the City. SECTION 8.2. REVIEW OF DEVELOPER RECORDS. The Developer agrees that the City will have the right to review the business records of the Developer that relate solely and specifically to the square footage of New Buildings, Jobs, and Developer's compliance with the terms of this Agreement at any reasonable time and upon at least three (3) days' prior notice to the Developer in order to determine compliance with this Agreement. To the extent reasonably possible, the Developer shall make all such records