AG 1998 11 16 - Laserfiche WebLink

Home Browse Search

occupancy in the Project and provides public notice of the "Grand Opening" date). In the event that the Developer fails to deliver such notice within said 12-month period, it shall be deemed that the Commencement Date is the first day of the first calendar [fiscal] quarter after expiration of said 12-month period. The grants shall not exceed five (5) years in length and the grant period will be completed not later than seven (7) years alter its award (date of action on agreement by the County) to allow for construction and business start-up. (d) Land Purchase/Public Exhibition Facility. Within the scope of negotiations leading up to this agreement, discussions have occurred that provide the opportunity for the Tourism Authority to acquire by purchase (under a separate agreement) adjacent property intended to provide a site for a potential future public exhibition facility to be owned and operated by the Tourism Authority. The Tourism Authority (by this agreement) shall not be bound to purchase the property or construct the public exhibition facility as a party to this contract. Site conditions, restrictions and/or suitability along with market elements may lead the Tourism Authority to reject the proposed site purchase; or even after a site purchase is complete, the Tourism Authority may choose to build the public exhibition facility at another yet to be identified location determined by the Tourism Authority to represent a more suitable location for a public exhibition facility. SECTION 3: Sales Tax and Room Occupancy Tax Reporting (Incentive Grant Program ReqniremenO. (a) Information From Developer and/or Marriott. In order to facilitate the development of the Project and the Premises, the Developer, the City, the County and the Filename - S\Planning~Ineentive Grant ^greement.doc -7- Revised 11/9/98