Developer Commitments Sample Clauses

Developer Commitments. Any of the Developer commitments, whether monetary or nonmonetary, may be fulfilled by the Developer directly, or by other parties acting at the direction or request of the Developer. Funds may be contributed directly by the Developer, its affiliates, or other parties, or raised from philanthropic organizations, affiliates and other outside sources.

Developer Commitments. In consideration of City agreeing to pay Developer the Project Revenues in accordance with the terms, provisions and conditions of this Agreement, Developer agrees to the following, which are not obligations of Developer, but are conditions that must be fulfilled in order to receive the Project Revenues:

Developer Commitments. Subject to satisfaction of the Conditions Precedent as described in Section 4, Developer agrees to take the following actions (“Developer Commitments”) at Developer’s cost and expense.

Developer Commitments. The following summary of commitments has been made by the Developer during the term of this Agreement: 1. Transportation Contribution Fee – $1,000 per Residential Unit; 2. School Contribution Fee – $400 per Residential Unit; 3. Workforce Housing Provision; 4. Compliance with the City of Charleston’s Minority Business Enterprise and Women’s Business Enterprise Program

Developer Commitments. ▇▇▇▇▇▇▇▇▇ agrees to the following commitments should the Project proceed:

Developer Commitments. In consideration for the Incentive provided by Commission as herein described, Developer shall perform or cause to be performed the following commitments described within this Articles IV and V (collectively, the “Developer Commitments”). If Developer fails to satisfy the Developer Commitments (a “Developer Default”), where such default is not cured as set forth in Section 9.03 herein, then Commission reserves the right to require Developer to repay the Commission any and all funds disbursed for Public Improvements under this Agreement.

Developer Commitments a. Developer shall, directly or indirectly, in accordance with all applicable federal, state, and local laws and regulations undertake the construction of 19 units, which shall be at least five (5%) percent of residential units on the Property (the “Restricted Units”) and to lease said units exclusively to Qualified Residents. b. Developer shall comply with all state and federal fair housing laws in the marketing and rental of the Restricted Units, including acceptance of recipients of federal certificates or vouchers for rent subsidies pursuant to the Housing Choice Voucher Program, or any successor thereto. c. Developer shall not restrict the rental, lease, use, occupancy, tenure, or enjoyment of the Restricted Units on the basis of race, color, religion, creed, sex, sexual orientation, disability, marital status, ancestry, or national origin of any potential Qualified Resident. d. Developer hereby acknowledges and agrees, for itself and its successors and assigns, that the Restricted Units shall be used solely in compliance with the Inclusionary Housing Ordinance and the requirements set forth herein. Developer warrants that it has not entered into any other agreements that would restrict its ability to comply with this Agreement. Further, Developer shall not enter into any agreement that is inconsistent with the terms set herein, without the express written consent of the City.

Developer Commitments. ▇▇▇▇▇▇▇▇▇ agrees to accomplish the following: (a) Following the Effective Date of this Agreement, Developer will use good faith efforts to secure sufficient funds (anticipated to be approximately $5,000,000) through grants and loans to remediate existing environmental contamination on the Developer Property and thereafter, subject to having obtained such funds, remediate the contaminated soils at the Developer Property; Developer will not seek any funds from the City to pay for the remediation of the Developer Property. (b) Following the Effective Date of this Agreement, Developer will pay (at an anticipated cost of over $150,000) Green Mountain Power Corporation to temporarily relocate above-ground power on Wales Street from Willow Street to a point south of Center Street before environmental remediation begins (which remediation must occur prior to the construction of the Redevelopment Project, or any redevelopment of the Developer Property). (c) Following the Effective Date of this Agreement, Developer will use good faith efforts to satisfy the conditions precedent established by Section 5(a)(iv), (v), and (vi) of this Agreement. (d) Following the Effective Date of this Agreement, and in support of the City’s obligation set forth in Section 4(g) below, Developer will apply, with the City, to the State of Vermont’s Sales Tax Reallocation Program in order to obtain ±$500,000 of state sales tax revenue to the City, to be used to pay for the construction of elements of the Public Improvements. (e) In addition, if Mutual Project Commencement Confirmation occurs, Developer will use good faith efforts to accomplish the following: (i) Provide a designated contact person to work with the City and downtown businesses on a public awareness campaign and on communications with downtown businesses, consumers and the community at-large to limit the negative impacts of the Project on downtown businesses. (ii) Construct the Redevelopment Project.

Developer Commitments. (i) Developer covenants and agrees to exercise commercially reasonable efforts to satisfy the County’s Conditions Precedent to be satisfied by Developer. (ii) Developer shall acquire the Rugby Land on or before August 31, 2014, subject to extension by Developer not to exceed forty-five (45) days (the “Acquisition Period”). If Developer has not acquired the Rugby Land prior to the expiration of the Acquisition Period, the County shall have the right to terminate this Agreement with written notice delivered to Developer within thirty (30) days after the expiration of the Acquisition Period. (iii) Prior to the Rugby Closing, Developer has obtained and provided to the County a term sheet for debt and will provide a letter from an equity partner that together will finance all of the costs and expenses associated with the acquisition of the Rugby Land and the design and construction of the New Facilities (as the same may be modified, amended or refinanced from time to time, the “Loan”), which Loan shall be secured by, among other things, a lien on the Rugby Land and a collateral assignment of Developer’s rights under this Agreement. (iv) Developer shall use commercially reasonable efforts to obtain the Lender’s agreement to a form of Attornment Agreement acceptable to the County in its sole discretion. (v) Developer shall diligently submit a complete package for Mandatory Referral with respect to the New Facilities as more particularly described in Exhibit B. (vi) Developer shall cause the design and construction of the New Facilities subject to and in accordance with the terms of this Agreement and the “turnkey” design and construction provisions set forth in Exhibit B attached to this Agreement (the “Turnkey Provisions”). (vii) Developer shall use commercially reasonable efforts to (a) comply with the milestone schedule attached hereto as Exhibit E (the “Milestone Schedule”), subject to Force Majeure, County Delay, modification of the Design and Construction Schedule, and extension pursuant to Section 3(c) of this Agreement, and (b) perform its obligations in connection with Substantial Completion pursuant to Section 6.2 of Exhibit B and Final Turnover pursuant to Section 6.4 of Exhibit B and shall perform its obligations following the Final Turnover Date pursuant to Section 6.5 of Exhibit B. (viii) Developer shall convey the Rugby Property to the County at the Settlement. (ix) During the term of this Agreement, Developer shall not introduce or exacerbate, or ...