DISCRETIONARY PROGRAM. Xxxxxxxxx agrees that the TIF program is a discretionary program and that the City and the Board have no obligation to extend TIF to Developer. However, the Board has agreed to support the Project, provided Developer satisfies certain terms and conditions, as further provided herein. Developer agrees that as of the Effective Date, they have no vested rights under any regulations, ordinances or laws at the Project Site, and waive any claim to be exempt from applicable provisions of the current City Charter, City Code, City Ordinances, and state or federal laws and regulations.
DISCRETIONARY PROGRAM. Developer agrees that the TIF program is a discretionary program and that the City and the Board have no obligation to extend TIF to Developer. Developer agrees that it has no vested rights under any regulations, ordinances or laws, and waives any claim to be exempt from applicable provisions of the current and future City Charter, City Code, City Ordinances, and state or federal laws and regulations; provided, however, that if Developer is not in Default (as defined in Article XI.) and the City and the Board fail to extend TIF to Developer under this Agreement, this Agreement shall be terminable at the sole option of Developer and Developer’s obligations hereunder shall cease, including the affordability requirement set forth in Section 2.2 of this Agreement.
