Property Development Clause Samples

Property Development. 3.1 For the purposes of practicality and equality, as well as the possibility of raising finance for development activities, the property owned by CHIBA RING in Ifafa Beach will be developed in three distinct phases, parts of some phases which could run in parallel. 3.2 The CHIBA RING Development Project will consist of the following three (3) components which may run in parralel:

Property Development. Development of the Property shall include the following: a. The Property overall. The Owner shall apply for and obtain approval for a boundary adjustment pursuant to SMC Section 16.04.030(E) and as described in Condition 4 at page 46 of the Staff Report, to align existing property tax parcel boundaries with PCI Plan Area boundaries. Relocation of lot lines with the PCI Plan boundaries shall be considered “minor changes to existing property lines” that do not “significantly change the configuration, shape or pattern” under SMC 16.04.030.E. A Planning Area may contain more than one property tax parcel following the lot line adjustment. Prior to Owner’s application for building permits for any Planning Area, the City shall have first approved a set of design guidelines applicable to the respective Planning Area, as described in Conditions 5 through 10 at pages 46-47 of the Staff Report, or Owner shall request that building designs be governed by the design guidelines and design review process established in Chapter 17.32 of the SMC; provided however that the Director or his/her designee shall administratively review building designs under the design guidelines in connection with building permit review. The Owner will develop covenants, conditions and restrictions (“CC&Rs”) that govern use, site planning and design for future development of respective Planning Areas, or portions thereof. Owner shall include in the CC&Rs any requirements needed to provide compliance with the City-established design guidelines (or design guidelines in Chapter 17.32 SMC, if applicable), as well as other development standards and conditions of approval adopted by the City. Proposed development plans will be reviewed, approved, and enforced by an Architectural Review Committee established by the CC&Rs to ensure compliance with the CC&Rs. The general range of topics addressed in the CC&R’s will include the following: permitted uses; site planning and design; dimensional requirements, including building height, lot coverage, and setbacks; architectural design; building materials; off street parking; landscaping; lighting; signage; outdoor storage; and operational performance standards (e.g., to control noise and other emissions).

Property Development. If the Property is developed, it shall be developed according to the Approvals. Except as may be specifically provided elsewhere in this Agreement, Property Owners have no affirmative obligation to commence development of the Property or to develop it at a specified rate once the development has commenced. No modification of the County’s ordinances, resolutions, policies, rules or regulations adopted after the Effective Date, which purport to limit the rate of development over time or to govern the sequence of development of land within the Project Area, shall apply to the Property. The provisions of this subparagraph apply to modifications adopted or imposed by the County Board of Supervisors, or through the initiative or referendum process.

Property Development. WPL’s development land bank was reduced upon the completion of One Island South but rebuilt to 2.7 million square feet (attributable) following the acquisition of two commercial sites in Kowloon East in the third quarter of 2011, as described below. One Island South in Aberdeen is a Grade A commercial building with a GFA of 812,800 square feet. The project was completed in June 2011, with all the office floors, with a total GFA of 722,300 square feet, pre-sold for total proceeds of HK$3.3 billion with a profit of HK$2.1 billion for the Group. The 90,500-square-foot retail podium will be held for investment pending the completion of the MTR South Island Line, which will include a station (target opening 2015) opposite One Island South. The MTR Austin Station project is a prime residential development in Kowloon West being developed with New World Development on a 50:50 basis, with an attributable GFA of 641,000 square feet. It is located on top of the MTR station, next to the future terminus (target opening 2015) for High Speed Trains from Mainland China and borders the site of the West Kowloon Cultural District. The master layout plan and general building plan have been approved. Foundation work is underway. Superstructure work for the residential development at ▇▇▇-▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ West, Homantin, is underway. The development has a total GFA of 91,700 square feet. The premium for the lease modification was paid in March 2011. The project is targeted for pre-sale in late 2011, subject to pre-sale consent. Foundation work for the residential development at ▇▇ ▇▇▇▇▇▇▇’▇ ▇▇▇▇▇▇, Western District, is underway. The development has a total GFA of 89,000 square feet. The project is targeted for pre-sale in late 2011, subject to pre-sale consent. In July 2011, WPL won a tender for a 76,200-square-foot commercial site at the junction of ▇▇▇ ▇▇▇ Street, ▇▇▇▇ ▇▇▇ Street and Hoi Bun Road along the ▇▇▇▇ ▇▇▇▇ waterfront for HK$3.53 billion or HK$3,856 per square foot. The development, with a GFA of 914,900 square feet, will comprise two Grade A office buildings overlooking the Victoria Harbour and the future Kai Tak Cruise Terminal, with access to the Ngau Tau Kok MTR station. In August 2011, WPL won another tender for a 147,500-square-foot commercial site at the junction of Hung Luen Road and Kin Wan Street, within the core commercial hub of ▇▇▇▇ ▇▇▇, for HK$4.03 billion or HK$6,827 per square foot. The development, with a total GFA of 590,000 square feet, will ...

Property Development. LodgeWorks has expended capital (and will continue to expend capital until the Primary Closing) on property development projects relating to the acquisition and development of certain properties (“Development Pipeline”) all as set forth on Exhibit D (which Exhibit may be updated by LodgeWorks before the Primary Closing).

Property Development. It is anticipated that the capital revenue funds shall be provided to FSUS, Inc. to provide nominal payment for a long-term lease (99 years) to the State Board of Trustees of the Internal Improvement Trust Fund for the school site and to service the debt service incurred to construct the proposed new school facility as described generally in Appendix C. In the event the new school is not constructed, only the DRS capital funds would be available for use by the FSUS, Inc. In the event the new school is completed and the amount of capital funding received exceeds what is required to maintain the lease and provide for debt service, the FSUS, Inc. may utilize the funds to provide additional facilities for the DRCS, make capital improvements to the existing plant or enter joint postsecondary use or other collaborative agreements for the enhancement or extension of public education, for example as per section 235.195, Florida Statutes.

Property Development. Development of the Property shall comply with Town of ▇▇▇▇▇▇▇ development requirements applicable to similar properties.

Property Development. The Property shall be developed in accordance with the Project Approvals described in Section 2.1.

Property Development. The Owner shall construct the onsite stormwater facilities in accordance with the plans and specifications identified in the Maintenance Plan.