Minimum Development Standards. The Developer and subsequent lot owners are hereby notified that minimum development standards to assure an equitable tax return to the municipality shall be required as follows: Single-family detached dwellings shall have a minimum appraised value of Fifty thousand dollars ($50,000.00) or Fifty dollars ($50.00) per square foot whichever is the greater. The municipality will not be required to issue building permits for residential development on parcels in the subdivision unless the building meets the foregoing standards. Furthermore, it is understood that this requirement is necessary to insure that a standard of development is maintained to give an equitable tax return for residential services as provided throughout the municipality to farmers and country- residents alike.
Minimum Development Standards. The Project shall be constructed as a luxury class, fully integrated mixed-use gaming facility and hotel development. Total capital investment by the Redeveloper for this part of the Project shall be at least $207.7 million (the “Required Expenditure”). The Redeveloper shall provide as part of the Project a luxury hotel equal in quality to Four Seasons Hotels located in major metropolitan areas within the continental United States. In the event an alternate brand of hotel other than the Four Seasons is chosen as part of the Project, and such alternate brand is one other than Fairmont, St. Regis or Intercontinental, LCRA, in its sole discretion, shall approve in writing such other hotel. All designs and materials related to the Project shall be approved by the LCRA and no material change to design or materials shall occur without prior written LCRA approval.
Minimum Development Standards. The minimum standards an Application is required to achieve in order to be approved by the City, as set forth in the Development Standards. The City agrees that, except for the Listed Minimum Development Standards, the Minimum Development Standards set forth in the Development Standards as of the Full Execution Date are discrete, measurable requirements.
Minimum Development Standards. The Parties agree to require development within their jurisdictional boundaries to comply with their respective municipal codes relating to stormwater drainage and detention, soil erosion and sedimentation control, stream and wetlands protection, floodplain regulations and public improvements standards. Nothing shall prevent either Party, at such Party’s discretion, from issuing a variance based on reasonable hardship and/or pursuant to the standards set forth in their respective municipal codes following, with respect to properties located within 500 feet of the Boundary Line, twenty-one (21) days’ written notice to the other Party. If the Party receiving notice objects to the variance or has concerns related thereto, the Parties shall meet and confer to discuss such Party’s objections or concerns.
