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Packet 12192022
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Last modified
9/30/2025 3:42:16 PM
Creation date
12/19/2022 4:05:09 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
12/19/2022
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PERM
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Reso 2022-225 3rd Amendment to Shoreline DDA_PSA KB
(Amended)
Path:
\City Clerk\City Council\Resolutions\2022
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REVISED DDA SCHEDULE OF PERFORMANCE <br />(December 2022 Revision) <br />Developer obtains Permit Issuance for Horizontal <br />Improvements for the Multifamily Element <br /> <br />Within 48 months following Effective Date <br />of Multifamily Ground Lease <br /> <br />Developer commences construction of Horizontal <br />Improvements for the Multifamily Element <br /> <br />Within first to occur of 1) 90 days of <br />Permit Issuance for Horizontal <br />Improvements, or 2) 51 months following <br />Effective Date of Multifamily Ground <br />Lease <br /> <br />Developer substantially completes Horizontal <br />Improvements for Multifamily Element <br />Within 24 months of Commencement of <br />Construction of Horizontal Improvements <br />for Multifamily Element <br /> <br />Developer completes all remaining Post- <br />Commencement Ground Lease Requirements for <br />Multifamily Element <br />Prior to first to occur: 1) Permit Issuance <br />for Vertical Improvements for Multifamily <br />Element or 2) 75 months following <br />Effective Date of Multifamily Ground <br />Lease <br /> <br />Developer commences construction of Vertical <br />Improvements for Multifamily Element <br /> <br />Within first to occur of 1) 90 days of <br />Permit Issuance for Vertical Improvements <br />for Multifamily Element, or 2) 78 months <br />following Effective Date of Multifamily <br />Ground Lease <br /> <br />Developer substantially completes Vertical <br />Improvements and obtains Temporary Certificate <br />of Occupancy (TCO) for Multifamily Element <br /> <br />Within 46 months after Permit Issuance for <br />Vertical Improvements for Multifamily <br />Element <br /> <br />Rent Commencement Date occurs The earliest to occur of: 1) 90 days after <br />receipt of TCO, 2) 46 months after Permit <br />Issuance for Vertical Improvements for <br />Multifamily Element, or 3) 60 months <br />following Effective Date of Multifamily <br />Ground Lease <br /> <br /> <br /> <br /> <br />10. Developer Restaurant Element <br /> <br /> <br />All conditions precedent to commencement of <br />Developer Restaurant Ground Lease (except for <br />the Post-Commencement Conditions) are <br />satisfied or waived by the parties <br />By December 31, 2022
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