Park Drive Project Clause Samples

Park Drive Project. The City shall undertake the design and construction of the following improvements (collectively “Park Drive Project”): a. Park Drive. The City shall design, grade and pave a new L-shape Park Drive and cul-de-sac terminus that will provide access and circulation to the Redevelopment Project Area as generally shown on Exhibit E and more particularly described in the Development Agreement in Exhibit F (collectively “Park Drive”), including providing access and circulation to the South Haymarket Park located on Outlot A (“Park”), Outlot B, West Haymarket 4th Addition, Lincoln, Lancaster County, Nebraska (“Park Drive Property”), proposed future development area located on ▇▇▇ ▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ (“Future Development Site”), the Project Site and potential future expansion of Park Drive to the south connecting Park Drive to the “L” Street right of way. b. Shared Off-Street Parking Stalls. The City shall design and construct approximately thirty-five (35) parking stalls on the north portion of the Redeveloper Property that is attached to the south edge of the Park Drive located on City Property. The Shared Off-Street Parking Stalls shall have access to Park Drive as generally shown on Exhibit E and more particularly described in the Development Agreement in Exhibit F (“Shared Off-Street Parking Stalls”). The Shared Off-Street Parking Stalls will serve the Redeveloper’s employees and visitors of the Project Site during business hours and serve the park visitors of the Park outside of Redeveloper’s business hours and during hours that the Park is open as provided by the Lincoln Municipal Code as described in the Development Agreement. Prior to City seeking competitive bids for the construction of the Park Drive Project and any related improvements, Redeveloper shall furnish to City security in a form acceptable to the City Law Department irrevocably committing funds to City in an amount equal to the estimated cost of constructing the Shared Off-Street Parking Stalls on the Redeveloper Property as described in the Development Agreement (collectively “Redeveloper’s Contribution”).