Redevelopment Project Areas definition
Examples of Redevelopment Project Areas in a sentence
The obligation to make said Payments in Lieu of Taxes shall be a covenant running with the land for the duration of the Redevelopment Plan (and any renewal periods thereof) and shall create a lien in favor of City on each such tax parcel as constituted from time to time and shall be enforceable against Developer and its successors and assigns in ownership of property in the Redevelopment Project Areas.
The Redevelopment Project Areas may only be changed, modified or amended in accordance with the Act.
The Developer, in recognition of the significant public investment of the City; and the City, in recognition of the substantial financial commitment of the Developer, agrees to cooperate in good faith to accomplish the expeditious and optimal utilization of the retail space in Redevelopment Project Areas.
Developer shall notify City in writing of any proposed sale or other transfer of any or all of the real property in the Redevelopment Project Areas or any interest therein other than any sale of a pad area for the construction thereon of improvements to be used by the purchaser of the pad area or its affiliate or tenant for retail and other permitted uses as provided for in this Contract.
So long as Developer owns the subject property within the Redevelopment Project Areas, Developer shall use commercially reasonable efforts to include the provisions as specified in Section 25 hereof in all lease documents with tenants located at such subject property within the Redevelopment Project Areas requiring said sales tax information to be provided to City.
The creation of the Affordable Units through imposition of affordability covenants for the Covenant Period, will allow the City to count one-half of the Affordable Units toward satisfaction of the City’s inclusionary affordable housing obligation for the Redevelopment Project Areas, in accordance with California Health and Safety Code Section 33413(b)(2)(A)(ii).
Except as provided in the immediately preceding sentence, the covenants, conditions and restrictions contained in this Agreement shall neither benefit nor be enforceable by any developer of real property within or outside the Redevelopment Project Areas or any person or entity having any interest in any such real property, other than City and the San Diego Housing Commission as set forth in the Grant Agreement.
Developer shall dedicate all necessary rights-of-way located within the boundaries of the Redevelopment Project Areas to City.
Without City approval, which approval shall not be unreasonably withheld, the Developer shall not lease or sell any of the Redevelopment Project Areas to a store whose primary business is the sale of used or second hand merchandise, a thrift shop, or a flea market.
The restrictions set forth above in Section 25 hereof, shall be incorporated into any deed or other instrument conveying an interest in real property, other than a lease agreement, within the Redevelopment Project Areas and shall provide that said obligations or restrictions shall constitute a benefit held by both Developer and City and that City is an intended third party beneficiary of said obligations and restrictions.