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2026-037 - Approving a Residential Tax Abatement and Economic Development Agreement
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2026-037 - Approving a Residential Tax Abatement and Economic Development Agreement
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9/24/2026 3:38:20 PM
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9/24/2026 3:36:49 PM
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CITY CLERK
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I Ps 0XVITJ I I L43 I ]WITITA I M A IM <br />V1. <br />Additional Terms applicable to both the Economic Developmenl <br />Agreement and the Tax Abatement Agreement <br />•M 917X01 M RA MV] M r tolsiza• <br />6.2 The terms and condons of this Agreement are binding upon the parties <br />hereto and their successors and assigns. <br />6.3 It is understood and agreed between the parties that the Owner, in <br />performing its obligations hereunder, is acting independently, and the City assumes no <br />responsibility or liability in connection therewith to third parties; and Owner agrees to <br />release, indemnify and hold the City its elected officials, officers, employees and <br />attorneys harmless from any claims, lawsuits, damages, costs or attorney's fees <br />related to this Agreement. It is further understood and agreed among the parties that <br />the City, in performing its obligations hereunder, is acting independently, and the Owner <br />assumes no responsibility or liability in connection therewith to third parties. <br />C. Compliance Provisions <br />6.4 The Owner agrees that the City, r` and employees, shall have <br />reasonable right of access to any and all records concerning Owner's investment in t <br />Improvements for the purpose of conducting an audit of the Improvements. Any such <br />audit shall be made only after giving the Owner notice at least fourteen (14) days in <br />2dvance and will be conducted in such a manner as to not unreasonably interfere wit <br />f <br />Owner's property. Upon request, the Owner will provide the City with a detailed list ol <br />211 Improvements, including a list of materials used and if thereof. <br />6.5 The Owner further agrees that the City, its agents and employees, shall <br />2 9.vil 44 TRA, <br />r.1 11 WIN^ 0-0-11 <br />IN <br />0 <br />
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