Public Infrastructure Financing Clause Samples

Public Infrastructure Financing. (a) As of the Effective Date, the estimated costs for completion of the Infrastructure Improvements, is approximately Five Million Eight Hundred Thousand Dollars ($5,800,000). The Commission expects to use a portion of the Agency Funds to complete the construction of the Infrastructure Improvements on the Master Development Site. No later than the time set forth in the Development Schedule (or such later date as the Commission and the Developers may agree by written amendment, in their respective sole and absolute discretion), the Commission shall use commercially reasonable efforts to apply for or seek additional public or private financing to allow the Commission to fully fund the construction of the Infrastructure Improvements. Subject to the terms of the Professional Services Agreement, the Master Developer must render all reasonable assistance (at no cost to the Developers) to the Commission in its efforts to obtain funding for the Infrastructure Improvements and during the construction of the Infrastructure Improvements. (b) The Developers further understand and agree that the Commission's ability to construct the Infrastructure Improvements is contingent on the approval of infrastructure plans pursuant to Section 7.2 hereof, and receipt of sufficient funding to pay for the entire costs of the Infrastructure Improvements. The Commission's responsibility and obligation to complete the Infrastructure Improvements shall be limited to the amount of funding available to the Commission pursuant to Section 5.1(b) and this Section. If the Commission does not have sufficient funding to pay for the entire costs of the Infrastructure Improvements, the parties agree to meet and confer in an effort to establish a revised scope of Services and method for funding the same.

Public Infrastructure Financing. According to the terms of the Development agreement, Developer will construct certain public roads, utility improvements, and other public infrastructure which qualify (i) as authorized facilities under the City of Anaheim Community Facilities District No. 08-1 (Platinum Triangle) established pursuant Resolution No. 2008-53 encompassing certain of the land parcels in and around Angel Stadium and the Honda Center (“CFD 08-1”), and (ii) for acquisition by City/CFD 08-1 with either (a) proceeds of newly issued bonds by CFD 08-1; (b) through special taxes levied and collected in accordance with the Rate and Method of Apportionment of Special Taxes for CFD 08-1 and not otherwise used to pay debt service on outstanding bonds issued by CFD 08-1; or (c) through Owner’s prepayments of CFD 08-1 special taxes deposited into the Construction Fund (as defined in the CFD 08-1 RMA). In addition, the City also agrees to assist the Developer in forming a new CFD (“New CFD”), the boundaries of which shall be coextensive with those of the Property, in order to fund, pursuant to the ▇▇▇▇▇-▇▇▇▇ Community Facilities Act of 1982, (i) the City/New CFD’s acquisition of authorized facilities; and (ii) impact fees which are not eligible for fee credits for fees paid through either the Development Impact Fee or Proposed Fee programs or not being acquired by the City/CFD 08-1. Developer agrees that the property parcels on which the Honda Center, Meadow Park, ARTIC and the public parking structures are located shall be exempt from the payment of special taxes under the New CFD or any alternative financing authority authorized by the terms of the Development Agreement.

Public Infrastructure Financing. The Parties acknowledge the likelihood of the City and/or County, as the originating forces behind CWDI, establishing a special taxing district and/or issuing tax increment financing in Phases 2 and 3 for necessary public infrastructure costs.

Public Infrastructure Financing. Concurrently with the approval of this MDA, the City has adopted Public Infrastructure Districts to pay for the Backbone Infrastructure, Backbone Road, Open Space, and other items of Public Infrastructure.