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Ordinance No. 2282 <br /> Page 7 of 9 <br /> 19.14. Initial 6th Amendment Funding and Extension Upon <br /> Additional Funding. <br /> (a) Within 10 business days of the date of recordation of this <br /> Agreement, Developer shall deposit the sum of$50,000 with City <br /> to be used by City for its costs associated with developing and <br /> processing a Master Plan (as defined in subsection (i) below) for <br /> the Stoneridge Mall ("Initial City Master Plan Costs"). <br /> (b) Between July 1, 2024 and December 31, 2024, City and <br /> Developer agree to cooperate and coordinate towards making <br /> progress on the master planning anticipated in the Stoneridge Mall <br /> Framework Components (as defined in subsection (i) below), <br /> including, but not limited to: (i) developing a scope of work, <br /> schedule and budget for the next phase of planning work, <br /> including commencing the process to select urban <br /> design/architectural professionals to develop design and <br /> placemaking elements of the Framework Components; (ii) <br /> initiating collaboration between Developer and Other Owners (as <br /> defined in subsection (i) below) regarding desired land uses, <br /> potential development scenarios for various properties, and <br /> addressing issues of shared concern, such as parking <br /> requirements and parking management, interface of new or <br /> expanded uses with the existing shopping center, and shared <br /> infrastructure; and (iii) seeking qualified consultants to begin <br /> development of development standards or other master planning <br /> documents for the Stoneridge Mall. <br /> (c) If, prior to December 1, 2024, City receives additional deposits <br /> totaling $150,000 from one or more of the Other Owners to <br /> supplement the Initial City Master Plan Costs ("Supplemental <br /> Master Plan Costs"), then the termination date of this Agreement <br /> shall be extended an additional 18 months to July 1, 2026, with <br /> this period to be used to further advance the efforts initiated during <br /> the initial six-month period. The City may, at its sole discretion, <br /> reduce this amount by up to $50,000, provided that so doing <br /> would, in the City's determination, allow the planning to continue <br /> to proceed towards the development of the Master Plan. <br /> (d) If City does not receive deposits for the Supplemental Master <br /> Plan Costs from the Other Owners by December 1, 2024, then <br /> Developer may elect thereafter to deposit with City, prior to <br /> December 31, 2024, the greater of (i) $100,000 or (2) the <br /> unfunded Supplemental Master Plan Costs (not to exceed <br /> $150,000), in which case this Agreement shall be extended an <br /> additional 24 months to December 31, 2026, with this period to be <br /> used to further advance the efforts initiated during the initial six- <br /> month period. By November 1, 2026, the City Manager shall <br /> determine, in writing with notice to the Developer, whether <br /> Developer has worked in good faith to make material progress <br /> towards the Master Plan, including funding and/or working with the <br /> Other Owners to develop a plan to fund, the Master Plan. If the <br /> City Manager makes an affirmative determination regarding <br />