Common use of The Developer's Project Clause in Contracts

The Developer's Project. Developer agrees to demolish the Existing Buildings and to build a 4 story, wood-framed building with approximately 218 residential units for rent at market rates, along with approximately 16,000 square feet of first-floor retail and/or office space with frontage onto ▇▇▇▇▇▇▇ Ave. Additionally, the Project would include a structured parking facility which is "wrapped" (or mostly enclosed) by the residential units, new walkable pedestrian improvements contemplated by the Vision ▇▇▇▇▇▇▇ Plan and the Downtown Form Based Code. The total estimated cost of the Project is currently projected to be approximately $48,000,000 (of which, Developer is requesting a TIF incentive which is not to exceed $7,613,717). Pursuant to the Performance Milestones set forth in Exhibit F of the Agreement, by , 201 Developer would be required to demolish the Existing Buildings by , 2015, commence construction of the Project by , 2015 and is required to be completed .

The Developer's Project. Developer agrees to demolish the Existing Buildings and to build a 4 story, wood-framed building with approximately 218 residential units for rent at market rates, along with approximately 16,000 square feet of first-floor retail and/or office space with frontage onto ▇▇▇▇▇▇▇ Ave. Additionally, the Project would include a structured parking facility which is "wrapped" (or mostly enclosed) by the residential units, new walkable pedestrian improvements contemplated by the Vision ▇▇▇▇▇▇▇ Plan and the Downtown Form Based Code. The total estimated cost of the Project is currently projected to be approximately $48,000,000 41,000,000 (of which, Developer is requesting a TIF incentive which is not to exceed $7,613,717). Pursuant to the Performance Milestones set forth in Exhibit F of the Agreement, by , 201 Developer would be required to demolish the Existing Buildings by August 15, 2015, commence construction of the Project by September 15, 2015 and is required to be completed by July 15, 2017.