EVIDENCE OF REDEVELOPER’S ABILITY. Section 101.
EVIDENCE OF REDEVELOPER’S ABILITY. Section 101. Bond Counsel Fee & Tax Increment Financing Administrative Fee (“TIF Admin. Fee”).
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability. Redeveloper shall, within ninety (90) days following the date of this Redevelopment Agreement, state the amount and source of liquid assets on hand and the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper in connection with Site Preparation and construction of the Private Improvements, including construction of the Public Enhancements. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan. To the extent allowed by law, the City agrees to keep the information confidential.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability to Construct Redeveloper Improvements. Redeveloper shall, within sixty (60) days following the Date of this Agreement, state the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Redeveloper Improvements. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan.
EVIDENCE OF REDEVELOPER’S ABILITY. Redeveloper shall, within one hundred eighty (180) days following the Date of this Agreement, state the amount and source of equity and debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Redeveloper Improvements. Redeveloper shall provide City proof that equity and debt financing is sufficient to fulfill Redeveloper obligation to deposit the first installment of funds for City Public Improvements described in Section 401 below. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability to Construct Redeveloper Private Improvements. Redeveloper shall, within one hundred eighty (180) days following the Date of this Agreement, state the amount and source of equity and debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Redeveloper Private Improvements. Redeveloper shall provide City proof that equity and debt financing is sufficient to fulfill Redeveloper Financial Contribution to deposit funds for City Public Improvements described in Section 401 below. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan.
EVIDENCE OF REDEVELOPER’S ABILITY. Section 101. Evidence of Redeveloper’s Ability.
EVIDENCE OF REDEVELOPER’S ABILITY. Section 101. Evidence of Redeveloper’s Ability. Redeveloper shall, within one hundred eighty (180) days following the Date of this Agreement, state the amount and source of equity and debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Redeveloper Improvements for the Phase I Project. For any and all subsequent phases Redeveloper shall, within ninety (90) days following the last execution date of the corresponding Phase Agreement, state the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Redeveloper Improvements for such phase. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability. Redeveloper shall, within one hundred eighty (180) days following the date of this Agreement, state the amount and source of liquid assets on hand and the amount and source of debt financing which has been obtained or irrevocably committed to Redeveloper in connection with acquisition of the Project Site, construction of the Xxxxxxx Housing Redevelopment Project, construction of the Redeveloper Public Improvements, construction of the City Public Improvements, and construction of the Utility Work. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan. To the extent allowed by law, the City agrees to keep the information confidential.
EVIDENCE OF REDEVELOPER’S ABILITY. A. Evidence of Redeveloper’s Financial Ability to Construct First Phase of Private Improvements. Redeveloper shall, within ninety (90) days following the Date of this Agreement, state the amount and source(s) of capital and debt financing which has been obtained or irrevocably committed to Redeveloper for use in completing the Private Improvements of approximately Seventeen Million Six Hundred Thousand and No/100 Dollars ($17,600,000.00). Redeveloper shall provide City proof that the debt and/or equity raised from the syndication of Low Income Housing Tax Credits is sufficient to fulfill Redeveloper’s obligations under this Agreement. Such information shall be provided in a form satisfactory to the Finance Director of the City. Evidence of loan commitments shall include all the documents evidencing the loan commitment, and acceptance by the borrower, the purposes of the loan, the authorized use of loan funds, and all other terms and conditions of the loan commitment, the acceptance, and the loan.
