Minimum Improvements definition

Minimum Improvements means the acquisition of land and construction of a 152-unit market rate residential apartment building, construction of a stormwater pond and related improvements. The Minimum Improvements are more fully depicted in Exhibit B, which is attached hereto and incorporated herein.

Minimum Improvements means devoting the Development Property to its intended Use and construction of approximately a square foot parking facility for use as parking for the Developer as identified and set forth in Exhibit C and constructed in accordance with the Construction Plans submitted to and approved by the Authority. After completion of the Minimum Improvements, the term shall mean the Development Property as improved by the Minimum Improvements.

Minimum Improvements means new construction of a 46-unit affordable rental housing project with approximately 4,200 square feet of commercial space and related improvements as described in the Contract.

Examples of Minimum Improvements in a sentence

• Subject to Unavoidable Delays, the Developer shall commence construction of the Minimum Improvements within one hundred twenty (120) days after Closing (the “Construction Commencement Deadline”), and use commercially reasonable and diligent efforts to substantially complete construction of the Minimum Improvements within 180 days following the Construction Commencement Deadlin e.

• Subsequent to conveyance of the Development Property, or any part thereof, to Developer, and until construction of the Minimum Improvements has been completed, Developer shall make reports, in such detail and at such times as may reasonably be requested by the Authority, as to the actual progress of Developer with respect to such construction.

• Developer agrees for itself, its successors and assigns, and every successor in interest to the Development Property, or any part thereof, that Developer, and such successors and assigns, shall promptly begin and diligently prosecute to completion the Development of the Development Property through the construction of the Minimum Improvements thereon, and that such construction shall in any event be commenced within the period specified in this Section 4.3 of this Agreement.

• The term “Transfer” does not include (i) encumbrances made or granted by way of security for, and only for, the purpose of obtaining construction, interim or permanent financing necessary to enable Developer or any successor in interest to the Development Property, or any part thereof, to construct the Minimum Improvements, or (ii) any lease, license, easement or similar arrangement entered into in the ordinary course of business related to operation of the Minimum Improvements.

• In the absence of specific written agreement by the Authority to the contrary, no such transfer or approval by the Authority thereof shall be deemed to relieve Developer, or any other party bound in any way by this Agreement or otherwise with respect to the construction of the Minimum Improvements, from any of its obligations with respect thereto.

More Definitions of Minimum Improvements

Minimum Improvements means new construction of 103 affordable workforce rental housing units, underground parking spaces and related improvements as described in the Contract.

Minimum Improvements means the development on the Development Property, which will include (i) a varied three- to six-story, approximately 175-unit apartment building subject to the affordability requirements and bedroom configurations described in Section 4.5 hereof, and

Minimum Improvements means the construction on the Redeveloper Parcels of a multistory building containing 191 units of multifamily rental housing, along with associated underground structured parking and surface parking.

Minimum Improvements means the construction on the Development Property of a rental housing facility containing 49 Rental Housing Units, subject to the affordability requirements described in Section 4.5 hereof.

Minimum Improvements means the development on the Development Property of (i) the Owner- Occupied Housing; (ii) two parking stalls per unit of Owner-Occupied Housing; and (ii) necessary public infrastructure, including streets and utilities.

Minimum Improvements means the acquisition of land and construction of approximately 200 units of market rate housing, approximately 1,700 square feet of retail/restaurant, and dependent upon market demand, up to an additional approximately 10,600 square feet of retail. The Minimum Improvements are more fully described in Exhibit C, which is attached hereto and incorporated herein.

Minimum Improvements means the development proposal identified in the Grant Agreement, generally consisting of the construction of a multifamily rental housing facility consisting of approximately 60 affordable senior rental housing units, including indoor and outdoor community spaces for residents. Prior to the Termination Date, changes to the Minimum Improvements may only be made pursuant to Section 4.2(b) hereof.