AG 1999 12 20 - Laserfiche WebLink

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WHEREAS, over an extended period of time, the Developer has discussed various proposals with the City, the County and the Tourism Authority which provide for certain economic incentives to the Developer to induce it to acquire the Property and develop the Project within the geographic boundaries of the City and County; and WHEREAS, in order to induce the Developer to acquire the Property and develop the Project, and to assist the Developer in such activity, the City, the County and the Tourism Authority hereby offer to the Developer various economic incentives and other agreements hereinafter set forth, and WHEREAS, after careful consideration and evaluation of these proposals, the Developer has based its decision to develop the Project in part on reliance upon the economic incentives and other agreements from the City, the County and the Tourism Authority contained in this Agreement. NOW, THEREFORE, in consideration of the mutual promises set forthSn this Agreement and of other good and valuable consideration, the receipt and sufficiency of which are acknowledged by the parties, the City, the County, the Tourism Authority and the Developer do hereby agree as follows: SECTION I: Incentive Grants. (a) Grants. Each of the City, the County and the Tourism Authority hereby grant to the Developer the Commercial/Retail Development Incentive Grants for Hotel/Conference Center Developments (the "Grants") as described in their respective Commercial/Retail Development Incentive Grant Programs Addendum for Hotel/Conference Center Developments for a period of five (5) years with respect to the Project as previously approved by the Board of County Commissioners of the County (a copy of the County program as approved is attached hereto as Exhibit 2-A and Filcname - S~lanning'~hacenlive Gram ^greemenl.do¢ -2- Revised 12./18/98