Laserfiche WebLink
7 <br /> LI !Sit Ill <br /> (exclusive of the retirement/senior housing permitted <br /> under 3.a, above) to be developed on the South <br /> Property. With such approval, Superior shall also require <br /> a phasing plan requiring that certificates of occupancy <br /> are Issued for at least 125.000 square feet of the retail, <br /> sales-tax generating development before certificates of <br /> occupancy are issued for more than 30 percent of the <br /> total number of permitted residential dwelling units or 500 <br /> dwelling units, whichever is more, but not to exceed 700 <br /> dwelling units (exclusive of the retirement/senior housing <br /> permitted under 3.a, above), Additionally, in no event <br /> shall certificates of occupancy be issued for 100 percent <br /> of the total number of permitted residential dwelling units <br /> (exclusive of the retirementisenior housing permitted <br /> under 3.a, above) or 2000 dwelling units, whichever is <br /> less, prior to issuance of certificates of occupancy for <br /> 250,000 square feet of retail, sales-tax generating <br /> development_ <br /> B. Paragraph 9 of the Agreement is amended to read in full as follows: <br /> 9. No Impairment. Neither Louisville nor Superior shall impair the <br /> rights of the other, without the others consent, to share in the <br /> revenues to be collected and shared as described in this <br /> Agreement Further, in recognition of Superior's interest in <br /> securing a stable sales tax base, Louisville shall not solicit any <br /> retail business located and operating in Superio?s jurisdiction by <br /> incentives in order to encourage physical relocation of such <br /> business to Louisville within five years of the date of issuance of <br /> the certificate of occupancy for the 125,000' square feet of <br /> retail development on the South Property. In recognition of <br /> Louisvilles interest in securing a stable sales tax base, Superior <br /> shall not solicit any retail business located and operating in <br /> Louisvilles jurisdiction by incentives in order to encourage <br /> physical relocation of such business to Superior within five <br /> years of the date at issuance of the certificate of occupancy for <br /> the 125.0001h square feet of retail development on the South <br /> Property. For purposes of this paragraph.'incentive"is limited to <br /> sales tax increment financing„ sales tax reimbursements or <br /> waivers of fees charged to similarly situated development by the <br /> jurisdiction; and "physical relocation" means closing an existing <br /> sales tax generating retail operation in one jurisdiction in order <br /> to open the same retail operation in the other jurisdiction. <br /> 3 <br /> 2/24120U5 2.51 PIA <br /> G Alut{r155CeLOUlSVIU.E1feu9I151 anmprIdmeel-with added tlie.eec <br />