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state that "A minimum of 250.000 square Feet of retail, sales-tax generating <br /> development on the South Property is required," <br /> Further, this requirement should be specifically reflected on the Land Use <br /> Conc , ! 3lock Diagram (CS1 .3) and in the Land Lip Summary Table illustrating <br /> the r, tr square footage of development required in he Superior Town Center <br /> "Norm Parcel" and "Town Center Core," and as othc. ise necessary to reflect <br /> the IGA quirements upon the specific. 80 acres it lied in the IGA for revenue <br /> sharing ( ..heet CS1 I). Finally, at this step and a ' e Town Centel project goes <br /> forward, Superior has an affirmative obligation no tr, I :t or approve any <br /> development that does not contain such minimum arno. cf retail, sales-tax <br /> generating development. This concept should also bE .. Jec ted Plan. <br /> Subparagraph b of Paragraph 3 of the 2005 First Amendment goes on to state: <br /> 'With its approval of the Preliminary PD/Zone District Plan for <br /> development of the South Property, Superior shall fix the total number of <br /> permitted residential dwelling units (exclusive of the retirement/senior <br /> housing permitted under 3.a above) to be developed on the South <br /> Property. With such approval, Superior shall also require a phasing plan <br /> requiring that certificates of occupancy are issued for at least 125,000 <br /> square feet of the retail, sales-tax generating development before <br /> certificates of occupancy are issued for more than 30 percent of the total <br /> number of permitted residential dwelling units or 500 dwelling units, <br /> whichever is more, but not to exceed 700 dwelling units, (exclusive of the <br /> retirement/senior housing permitted under 3.a, above). Additionally, in no <br /> event shall certificates of occupancy be issued for 100 percent of the total <br /> number of permitted residential dwelling. units (exclusive of the <br /> retirement/senior housing permitted under 3.a, above) or 2,000 dwelling <br /> units, whichever is less, prior to issuance of certificates of occupancy for <br /> 250,000 square feet of retail, sales tax generating development.' <br /> l hus, the Preliminary PD/Zone District Plan must also set forth a phasing plan <br /> that reflects the iGA and requires the square footages of retail, sales-tax <br /> generating development to be completed, and associated certificates of <br /> occupancy issued, before exceeding the specified levels of residential <br /> development. <br /> As can be seen from the express language of the IGA noted above, Superior <br /> .-1.)LIst require the minimum amount of retail, sales-tax generating development as <br /> part of its approval of the Preliminary PD/Zone District Plan. ft must at this time <br /> also put iii place a phasing plan consistent with the IGA, and thereafter must not <br /> permit or approve any development that does not meet the IGA. Louisville <br /> expects that Superior mil take these additional steps necessary to comply with <br /> the IGA. <br /> Lastly, as we suggested in our previous letter, should Superior wish to discuss <br /> further amendments to the IGA to address these issues, we are open to such <br /> 2 <br />