Revitalization Commission Agenda and Packet 2009 09 14

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c. As provided in the urban rcnewal plan, allocation of any municipal sales tax increment shall occur only upon City Council approval. For any such requested approval, thc LRC shall submit a financing plan outlining the proposed amounts and purpose for which the municipal sales tax increments are proposed to bc used. City Council may approve or deny such request in its discretion. d. As provided in thc urban renewal plan, the LRC shall provide to the City Council for review and approval any redevelopment agreement or other contract contemplated under Section 5.6 of the plan, prior to the Commission's final approval thereof. Any such approval shall be by City Council resolution. e. The LRC shall comply with applicable City codes, rules, and regulations related to any other urban renewal activities ofthc LRC. The City Council shall be informed of the activitics, functions, operations, and financial condition of the LRC in the form ofrcports to the City Council not less than quarterly, and at any other time as requested by the City Council. f. The City agrees that it will make reasonable efforts to act within thirty days ofa request for review of any document, ab'l"ecment, obligation, or action required by this Cooperation Agrecment. Unless otherwise required by law or provided herein, any approval or other action ofthc City Council shall be by motion or resolution. 6. Continuing Cooperation; Additional Agreements. The Parties shall cooperate to carry out and complete the urban renewal plan approvcd by the City Council. It is contemplatcd that additional agreements may bc required to plan and carry out urban renewal projects in accordance with the provisions of such urban renewal plan and the Act. Thc Parties agree to cooperatc and give timely consideration to any additional agreements or amendments to this Cooperation Agreement that may be necessary or convenient in conncction with such activities and undcrtakings; provided, however, nothing in this Cooperation Agrcement shall preclude or require the commitment of additional revenue, financing, or services by either Party in connection with such activities and undertakings. 7. Obligations Subiect to Act. Charter. and Constitution. Thc covenants, duties and actions required of the Parties under this Cooperation Agrcement shall bc subject to and perform cd in accordance with the provisions and procedures required and permitted by the Charter, the Act, any other applicable provision oflaw, and the Colorado Constitution. 8. Enforced Delay. Neither Party shall be considered in breach of, or in default in, its obligations with respect to this Cooperation Agreemcnt in the event of delay in the perfonnancc of such obligations due to causes beyond its control and without its fault, it being the purpose and intent of this provision that ifsuch delay occurs, the timc or timcs for perfonnance by either Party affected by such delay shall be extended for the period of the delay. 3