Resolution 2004-52 - Laserfiche WebLink

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2. The Mayor is authorized to execute the Agreement on behalf of the City, except that the Mayor is hereby further granted authority to negotiate and approve such revisions to said Agreement as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Agreement are not altered. The following specific revisions to the Agreement are hereby required: a. Section 1.4 of the Agreement shall be amended to eliminate the requirement for non first-time homebuyers to attend a first time homebuyer training course; b. Section 1.12 of the Agreement shall be amended to identify Unit 220 rather than Unit 219; c. Section 4.4 of the Agreement shall be amended to reflect that the City be paid 70% of the Profits of an at-market sale, and to require the City to use any proceeds received pursuant to such Section within five (5) years or return said funds to the Unit Owner who paid such funds including any actual interest earned; and d. Section 5.4 of the Agreement shall be amended such that the closing on any City purchase of a Unit would be required to occur within 60 days. 3. The City Council hereby approves the waiver of the Service Expansion Fee, the Major Thoroughfare Fee and the Use Tax on Residential Construction Materials otherwise due for the initial construction of the seven affordable housing units of the Centennial Pavilion Lofts development which are subject to the Agreement, which units are identified as unit numbers 110, 115, 118, 120, 218, 220 and 320 (the "Units"). The City Council hereby further approves the waiver of that portion of the Building Permit, Plan Check, and Electrical, Plumbing and Mechanical Fees attributable to the seven Units, as determined on a pro-rata basis with an equal share of such fees attributable to each of the 66 units within the PUD. The fee and tax waivers authorized in this Section 3 are subject to compliance by the Developer (as defined in the Agreement) with all terms and conditions of the Agreement; in the event it is determined by admission or order of a court that the Developer has breached the Agreement, then the fees and taxes waived under this Resolution shall be due and payable to the City. 4. The City Council does not by this Resolution waive any fees, use tax or other assessment applicable to the remaining 59 units of the Centennial Pavilion Lofts development, or applicable to any development or construction relating to such seven units other than the initial construction thereof. 5. The officers and employees of the City are hereby authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Resolution. 2