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RES 17918
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RES 17918
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3/28/2017 4:25:00 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
2/7/2017
DESTRUCT DATE
PERMANENT
DOCUMENT NO
17918
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Sunflower Hill to use for preliminary project design costs, architectural work, feasibility studies <br /> and other pre-development costs related to the Project. Sunflower Hill shall submit a proposed <br /> budget for use of such funds, not otherwise payable by Developer, for review and approval by <br /> the City's Assistant City Manager. After the budget is approved, Sunflower Hill shall submit <br /> invoices consistent with the budget to the City's Housing Specialist for reimbursement. <br /> a. Except as otherwise approved as a pre-development cost paid for by this grant, all <br /> costs and expenses (including, without limitation, staff, consultant and legal fees and expenses) <br /> incurred in connection with this Agreement shall be paid by the party incurring such expense. <br /> b. Sunflower Hill shall at all times keep the Inclusionary Parcel free and clear of all <br /> liens and encumbrances affecting title arising from any work or services contracted for by <br /> Sunflower Hill. Sunflower Hills' indemnification obligations to discharge liens arising from <br /> any work or services contracted for by Sunflower Hill that attach to the Inclusionary Parcel as set <br /> forth in this Section 1 shall survive the expiration or earlier termination of this Agreement For <br /> any work or services contracted by Sunflower Hill to occur on the Inclusionary Parcel, <br /> Sunflower Hill shall require that Sunflower Hill, its contractors and agents carry at least <br /> $1,000,000 of general liability insurance per occurrence, and workers compensation insurance <br /> as required by law, and provide that Irby Ranch, LLC, is named as an additional insured for <br /> such policies, and provide certificates of insurance to Irby Ranch, LLC. <br /> c. Funding provided under this Agreement is to identify preliminary project <br /> feasibility and it is understood that the commitment of additional funding for predevelopment <br /> activities or other project financing may only occur under the conditions described in Section <br /> 2c. For any reason if the project is found by Sunflower Hill or the City to be infeasible, the <br /> funding provided to Sunflower Hill through this Agreement shall become a grant to the project <br /> and shall not be repayable. Otherwise, funds provided under this Agreement shall be included <br /> as part of any future loan provided by the City and would be included within the maximum City <br /> support described in Section 2.d., below. <br /> 2. Activities & Milestones for Sunflower Hill. Sunflower Hill will use due diligence to <br /> refine the Project's concept to serve as a basis for further negotiations of the DDA and shall <br /> achieve the following milestones under this Agreement: <br /> a. Development Partner. Sunflower Hill will partner with a qualified and <br /> experienced developer and/or operator for the Project. Such partner shall be presented to and <br /> subject to approval by the Assistant City Manager no later than March 29, 2019. <br /> b. Project Plans. Sunflower Hill will submit an application to the City for a planned <br /> unit development(PUD) plan following the parameters described in Recital D, above, on or <br /> before June 1, 2020. <br /> (i) Sunflower Hill Studies. During the Term of this Agreement, Sunflower Hill <br /> shall use its best efforts to prepare, or have prepared, studies, surveys, plans, specifications <br /> and/or reports that Sunflower Hill deems necessary or desirable to determine the suitability of the <br /> Inclusionary Parcel for the Project and as needed to support the negotiations of a DDA. Such <br /> 2 <br />
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