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AG 1998 08 17
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AG 1998 08 17
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4/4/2002 7:32:05 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/17/1998
Board
Board of Commissioners
Meeting Type
Regular
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shown on the Access Road concept plan to be submitted to the City as part <br />of the negotiations of the BA. If it is finally determined by the City and <br />Developer that the Access Road will remain a private roadway, then if <br />necessary for the road to serve the Developer property as well as adjacent <br />private properties, Developer will grant a permanent non-exclusive <br />easement for ingress and egress to the adjacent property owners as well as <br />to the City over the Access Road by an easement document mutually <br />acceptable to Developer and the City. <br /> <br />Fees. To the maximum extent permissible under applicable law, all fees <br />payable to the City or County or any subdivisions or agency of either in <br />connection with the development of the Project, including, but not limited <br />to, fees for plan check, building permits and inspections and impact fees, <br />shall not exceed the amount of the regularly scheduled fees and charges in <br />effect as of the Delivery Date. <br /> <br />City Obligations. The City shall cause (at no cost to Developer) to be <br />performed certain infrastructure and road-work described on Schedule I <br />attached hereto and made a part hereof ("Obligations"). The BA shall <br />describe in reasonable detail the exact nature of the Obligations, the timing <br />and performance thereof. In addition, the City acknowledges that timing <br />of performance of the Obligations is a critical component to the success of <br />the opening of the Concord Marriott and, accordingly, as part of the <br />negotiation of the BA, the parties shall agree on a mechanism of ensuring <br />that the agreed-to time schedule for completion of the Obligations is met <br />(by way of example only, i.e. daily liquidated damages or means of the <br />Developer to complete the Obligations and back charge the party obligated <br />to perform). <br /> <br />Additional Financial Considerations. The City, County and Tourism <br />Authority recognize and anticipate that the development of the Concord <br />Marriott will result in substantial conference business and additional <br />commercial development in the area around the Project and that the <br />development of the Concord Marriott and this ancillary development is <br />desired by the City and the County. Because of the scope of the <br />development and the anticipated ancillary development, it is appropriate <br />that the City and County provide economic incentives that will assist and <br />encourage the Developer to develop the Concord Marriott at a financially <br />feasible cost and to maximize the sales and financial return generated by <br />the Project to the mutual benefit of Developer, City, County and Tourism <br />Authority. In consideration of, and as an inducement to Developer to <br />develop the Concord Marriott, the City (in addition to City's obligation to <br />deliver the Obligations outlined in E. above), County and Tourism <br />Authority hereby agree to provide to Developer an economic incentive <br />program (the "Economic Incentive Program" or "EIP") based on the <br />Schedule 2 attached hereto and made a part hereof. <br /> <br />-5- <br /> <br /> <br />
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