Res 2009-018 - Laserfiche WebLink

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• (a) adopt or amend an annexation plan to include the Property; (b) give notice to any service providers in the area of the Property; (c) compile an inventory of services provided to the area by both public and private entities prior to the City's annexation or make such inventory available for public inspection; (d) complete a service plan that provides for the extension of full municipal services to the Property; (e) hold any public hearings; and (f) undertake any negotiations for provision of services to the Property. The Developer confirms and agrees that, as the Developer will be the sole owner of the Property subsequent to the conveyance of the Property from the Owner to the Developer, such voluntary petition may not be revoked by the Developer except as provided by this Consent, and is intended to be and shall be binding upon the Developer and its successors in interest in ownership of any right, title or interest in and to the Property or any part thereof. 5. Notice of Convevance. The Developer shall provide written notice to the City of Owner's conveyance of the Property to Developer within twenty (20) business days after such conveyance. 6. Annual Payment. The Developer shall deliver to the City annually a payment. The first payment shall be due on or before January 31 of the year following the completion of • construction of construction of the project on the Property. The Developer shall deliver the payment in lieu of taxes every subsequent year in which Developer or another tax exempt successor owns the Property. This requirement shall survive the termination of this Agreement unless otherwise agreed to by the Parties in writing. The first payment in lieu of taxes to the City shall be in amount of $37,000. This payment amount will increase by four percent (4%) every year for fifteen (15) years after the first payment. The payment schedule for the first five (5) years is shown as an example as follows: Year 1 $37,000.00 Year 2 $38,480.00 Year 3 $40,019.20 Year 4 $41,619.97 Year 5 $43,284.77 M. OBLIGATIONS OF THE CITY Subject to and conditioned upon Developer's development of the Property, and any other limitations set forth herein, and in consideration of Developer's and Owner's agreement to meet its obligations set forth in Section II above, the City agrees to the following: • 1. Utility Services. The City shall provide utility services following extension of water and wastewater infrastructure at Developers expense.