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Resolution No. 93-52 <br />Page Three <br /> <br /> approvals will be allocated to__; and <br /> approvals will be allocated to __. <br /> <br /> 2. By June 1st of the year following the year in <br /> which growth management approvals are first <br /> allocated in accordance with B.l., Developer <br /> may, with the City's concurrence (which shall <br /> not be unreasonably exercised or withheld), <br /> again reallocate its growth management <br /> approvals. <br /> <br /> 3. Unused growth management approvals in any year <br /> designated pursuant to either B.1. or B.2. <br /> above, will be automatically reallocated to <br /> the year following the final year of growth <br /> management approvals as designated pursuant to <br /> either B.1. or B.2. above; provided that <br /> without City approval, no more than <br /> of the project's growth management approvals <br /> may be used in said year. <br /> <br /> 4. At the end of any year after the year to which <br /> growth management approvals are reallocated <br /> pursuant to B.3. above, any unused growth <br /> management approvals shall be automatically <br /> reallocated to the next following year(s); <br /> provided that without City approval, no more <br /> than of the project's growth management <br /> approvals may be used in any of those years. <br /> <br /> 5. Developer shall be required to apply for and <br /> receive City approval to use more than <br /> or __, respectively, of its growth <br /> management approvals in those years to which <br /> unused growth management approvals are <br /> reallocated pursuant to B.3. or B.4. <br /> <br /> C. If no building permits have been issued by <br /> , Developer, at its sole option to <br /> be exercised by written notice to the City prior to <br /> that date, may elect to maintain its current rights <br /> and develop Tract in accordance with the <br /> currently approved PUD- . <br /> <br /> D. If any growth management approvals for Tract <br /> lapse, Developer shall have the right to apply for <br /> future growth management approvals on terms no less <br /> favorable than any other party. <br /> <br /> <br />