Common use of Developer’s Undertakings Clause in Contracts

Developer’s Undertakings. During the term of this Agreement, the Developer shall: (i) Submit to the City and EDA a design proposal to be approved in concept by the City and the EDA showing the location, size, and nature of the Development, including floor layouts, renderings, elevations, and other graphic or written explanations of the Development, and the Infrastructure Improvements meeting City standards; provided, however, such approval shall be for purposes of this Agreement only and shall not constitute approval for purposes of obtaining a building permit or any other purpose; (ii) Submit to the City and EDA an over-all cost estimate for the design and construction of the Development and Infrastructure Improvements; (iii) Submit to the City and EDA a proposed schedule for all phases of the Development and Infrastructure Improvements; (iv) Undertake and obtain such other preliminary economic feasibility studies, income and expense projections, financing commitments and such other economic information as the Developer may desire to further confirm the economic feasibility and soundness of the Development; (v) Submit to the City and EDA the Developer’s financing plan showing that the Development is financially feasible, and, to the extent Developer seeks public financial assistance in any form (including reduced land cost, waiver of fees, and tax increment financing), evidence that such assistance is reasonably necessary to make the Development financially feasible; and (vi) Submit to the City and EDA pro forma operating and financial data and projections for the Development evidencing the Developer’s ability to undertake the Development. (vii) Cooperate with the City and the EDA in meeting the requirements of any participating governmental entity with respect to the proposed public assistance, including providing to the City such additional information as the City and its fiscal and development consultant, ▇▇▇▇▇ ▇▇▇▇▇, may require to allow the City and its financial consultant to undertake a “but for” analysis for purposes of the Minnesota tax increment financing laws; and. (viii) Negotiate the Contract in accordance with, and subject to, the terms hereof. The costs of all undertakings by the Developer under this Section 3 shall be borne solely by the Developer. All of the information and materials described in this Section 3 shall be the property of the Developer.

Developer’s Undertakings. During the term of this Agreement, the Developer shall: (i) Submit to the City and EDA a design proposal to be approved in concept by the City and the EDA showing the location, size, and nature of the Development, including floor layouts, renderings, elevations, and other graphic or written explanations of the Development, and the Infrastructure Improvements meeting City standards; provided, however, such approval shall be for purposes of this Agreement only and shall not constitute approval for purposes of obtaining a building permit or any other purpose; (ii) Submit to the City and EDA an over-all cost estimate for the design and construction of the Development and Infrastructure Improvements; (iii) Submit to the City and EDA a proposed schedule for all phases of the Development and Infrastructure Improvements; (iv) Undertake and obtain such other preliminary economic feasibility studies, income and expense projections, financing commitments and such other economic information as the Developer may desire to further confirm the economic feasibility and soundness of the Development; (v) Submit to the City and EDA the Developer’s financing plan showing that the Development is financially feasible, and, to the extent Developer seeks public financial assistance in any form (including reduced land cost, waiver of fees, fees and tax increment financingcash contributions), evidence that such assistance is reasonably necessary to make the Development financially feasible; and (vi) Submit to the City and EDA pro forma operating and financial data and projections for the Development evidencing the Developer’s ability to undertake the Development. (vii) Cooperate with the City and the EDA in meeting the requirements of any participating governmental entity with respect to the proposed public assistance, including providing to the City such additional information as the City and its fiscal and development consultant, ▇▇▇▇▇ ▇▇▇▇▇, may require to allow the City and its financial consultant to undertake a “but for” analysis for purposes of the Minnesota tax increment financing laws; and. (viii) Negotiate the Contract in accordance with, and subject to, the terms hereof. The costs of all undertakings by the Developer under this Section 3 shall be borne solely by the Developer. All of the information and materials described in this Section 3 shall be the property of the Developer.

Developer’s Undertakings. During the term of this Agreement, the Developer shall: (i) Submit to the City and EDA a design proposal to be approved in concept by the City and the EDA showing the location, size, and nature of the Development, including floor layouts, renderings, elevations, and other graphic or written explanations of the Development, and the Infrastructure Improvements Development meeting City standards; provided, however, such approval shall be for purposes of this Agreement only and shall not constitute approval for purposes of obtaining a building permit or any other purpose; (ii) Submit to the City and EDA an over-all cost estimate for the design and construction of the Development and Infrastructure ImprovementsDevelopment; (iii) Submit to the City and EDA a proposed schedule for all phases of the Development and Infrastructure ImprovementsDevelopment; (iv) Undertake and obtain such other preliminary economic feasibility studies, income and expense projections, financing commitments and such other economic information as the Developer may desire to further confirm the economic feasibility and soundness of the Development; (v) Submit to the City and EDA the Developer’s financing plan showing that the Development is financially feasible, and, to the extent Developer seeks public financial assistance in any form (including reduced land cost, waiver of fees, fees and tax increment financingcash contributions), evidence that such assistance is reasonably necessary to make the Development financially feasible; and (vi) Submit to the City and EDA pro forma operating and financial data and projections for the Development evidencing the Developer’s ability to undertake the Development. (vii) Cooperate with the City and the EDA in meeting the requirements of any participating governmental entity with respect to the proposed public assistance, including providing to the City such additional information as the City and its fiscal and development consultant, ▇▇▇▇▇ ▇▇▇▇▇, may require to allow the City and its financial consultant to undertake a “but for” analysis for purposes of the Minnesota tax increment financing laws; and. (viii) Negotiate the Contract in accordance with, and subject to, the terms hereof. The costs of all undertakings by the Developer under this Section 3 shall be borne solely by the Developer. All of the information and materials described in this Section 3 shall be the property of the Developer.