Ancillary Development definition
Examples of Ancillary Development in a sentence
StadiumCo shall be responsible for the payment of any and all applicable taxes for the Ancillary Development, including property taxes.
The City and the Agency hereby agree that the Force Majeure provision contained in Section XLI of the MOU applies to the Phase 1 Ancillary Development obligations of the Padres and its Master Developer for EVS assessed valuation only.
Consistent with Section XXXI.A of the MOU, and subject to the credit and transfer limitations set forth in Section VII.a above, the Padres or its Master Developer may assign all or any portion of any Ancillary Development project which is part of Phase 1 with the prior approval of the Agency which will not be unreasonably withheld or delayed.
Assignment of any Ancillary Development project that is subject to a DDA or similar agreements will be governed by the respective provisions of the DDA or similar agreement.
Furthermore, on or prior to the issuance of a Certificate of Occupancy for the Ancillary Development, Tenant will comply with the requirements of the “No Net Loss Policy” set forth in the City’s Comprehensive Neighborhood Plan applicable to the re-zoning of property designated civic space.
The City and Redevelopment Agency acknowledge that because of the Ballpark litigation, the force majeure provision in the MOU applies to the EVS component of the Ancillary Development obligations of the Padres.
Included in the MOU were provisions for an Outfield Park and Ancillary Development within the Ballpark District including retail development of at least 150,000 gross square feet.
Under the MOU and subsequent implementation agreements, the Padres committed that certain of the Ancillary Development projects would be completed by Opening Day 2004.
Any Ancillary Development shall be by mutual agreement of the Parties, with each party having discretion, and with final approval by the City Council; Landlord is not pre-approving any Ancillary Development.
Except as specifically set forth herein, the obligations of the Padres and its Master Developer with regard to Phase 1 Ancillary Development remain unchanged and not subject to Force Majeure, including the timely construction of hotel rooms and certain guarantees concerning the generation of Transient Occupancy Tax.