01-14-19 Regular Meeting of the La Porte City Council

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the City Council for a date no later than forty-five (45) days after the receipt and final verification of submitted documentation by CITY from DEVELOPER. Upon verification of the completion of the aforementioned buildings, as reflected by a formal vote of the City Council that DEVELOPER has satisfied the requirements of this paragraph, CITY will then remit payment to DEVELOPER within a period not to exceed thirty (30) days. Section 3. DEVELOPER Obligations. 3.1 As a condition for CITY's reimbursement of DEVELOPER'S payment of fair market value for closure of Rights -of -Way as a grant to induce completion of the Project, DEVELOPER promises to submit to CITY, and shall submit to CITY the following items, on or before the deadline indicated in Section 5: a) Proof of Certificate of Occupancy issued by CITY for each building situated on the Property, with such building(s) having a minimum building footprint of 3,000 square feet; and b) Documentation substantiating capital investment of each building by DEVELOPER for building construction and other related building improvements, which are necessary to develop the proposed Project, not to include street improvements identified in Section 1.5, The total capital investment for all buildings must be at least $12,000,000,00. 3.2 DEVELOPER agrees that CITY will have the right to review the business records of DEVELOPER that relate to the Project and this Agreement in order to determine DEVELOPER'S compliance with the terms of this AGREEMENT. Such review shall occur at any reasonable time and upon thirty (30) days' prior notice to DEVELOPER, To the extent reasonably possible, DEVELOPER shall make all such records available in electronic form, 3.3 DEVELOPER shall not allow any portion of ad valorem taxes owed to CITY on the Property, or any other property owned by DEVELOPER and located within the City of La Porte, Texas to become delinquent beyond the date when due, and as such date may be extended to permit protest of valuation or any appeal; nor shall DEVELOPER fail to render for taxation any personal property, including inventory and equipment, owned by DEVELOPER and located within the City of La Porte, Texas, 3.4 DEVELOPER covenants and certifies that DEVELOPER does not and will not knowingly employ an undocumented worker as that term is defined by section 2264.01(4) of the Texas Government Code. In accordance with Section 2265,052 of the Texas Government Code, if DEVELOPER is convicted of a violation under 8 U.S.D. Section 1324a (0, DEVEI..,OPER shall forfeit reimbursement from the CITY. Section 4. Force Majeure. It is, expressly understood and agreed by the parties to this Agreement that if the performance of any obligations hereunder is delayed by reason of war, civil commotion, acts of God, inclement weather, governmental restrictions, regulations, or interferences, delays caused by the franchise utilities, fire or other casualty, court inj unction, necessary condemnation proceedings, acts of the other party, its affiliates/related entities and/or their contractors, or any actions or inactions of third parties or other circumstances which are reasonably beyond the control of the party obligated or permitted under the