6088 - Laserfiche WebLink

Home Browse Search

"Property": An area designated as Redevelopment Project #1 in the Redevelopment Plan, commonly known as the Mercy High School Site and situated within the TIF District. "Redevelopment Plan": A redevelopment plan entitled "New Olive Boulevard East Tax Increment Financing (TIF) Redevelopment Plan" dated October 29, 1996 and as from time to time further amended. "Redevelopment Project": The redevelopment project described in the Redevelopment Proposal for an area legally described in Exhibit B attached tO and incorporated in this Agreement by reference, approved by the City pursuant to Ordinance No. ~ , passed and adopted by the City Council on December 16, 1996. "Redevelopment Project Costs": The sum total of all reasonable or necessary costs actually incurred and any such costs incidental to the Redevelopment Project. Such costs include, but are not limited to, the following: (a) Costs of studies, surveys, plans, and specifications; (b) Professional service costs, including, but not limited to, architectural, engineering, legal, marketing, financial, planning or special services; (c) Acquisition Costs; (d) Costs of demolition of buildings, and the clearing and grading of land and site preparation; (e) Costs of rehabilitation, reconstruction, or repair or remodeling of existing buildings and fixtures; (f) Costs of construction of public works or improvements; (g) Issuance Costs; (h) All or a portion of a taxing district's capital costs resulting from the Redevelopment Project necessarily incurred or to be incurred in furtherance of the objectives of the Redevelopment Plan and the Redevelopment Project, to the extent the City by written agreement accepts and approves such costs; (i) Relocation Costs; (j) Payments in lieu of taxes. "Redevelopment Proposal": A proposal dated September 3, 1996, submitted to the City by Developer and calling for construction of a grocery store and retail shopping center and related improvements within the TIF District, as subsequently amended and modified by agreement of the parties and subject to the provisions of this Agreement. "Relocation Costs": All costs incurred to relocate the occupants of and businesses on the Property in accordance with the Relocation Policy, including but not limited to relocation payments to displaced persons or businesses, and all costs of implementing the Relocation Policy including costs of relocation specialists, attorneys' fees, brokers' commissions, and staff - 4 - STL-535046