HomeMy WebLinkAboutCRA-R-05-0002 BACKUP DOCUMENTPOINCIANA VILLAGE/SAWYER'S WALK SETTLEMENT AGREEMENT/EXCERPT
WRB
1/1824/05
DRAFT
the MUSP Approval and the other governmental approvals required in
connection with the Development Plan, as well as submission and approval of
building plans for the purpose of obtaining building permits for the
Development Plan, involves many departments and governmental agencies. In
order to assist in expediting the process, the City shall designate an employee
who is knowledgeable about the approvals process within the City to serve as
an ombudsman (the "Ombudsman") for the purpose of assisting in the
expediting of the processing of all applications filed with the City by Sawyer's
Walk with respect to the Development Plan. The City will establish a
reasonable level of authority in the Ombudsman so that this person has the
ability to serve in the role of expediter, with the ability to communicate with
the necessary departments and officials, and with Sawyer's Walk's
representatives in an attempt to expedite the approval process.
10. SALE OF FEE SIMPLE INTEREST.
10.1. Receipt of Proposal. Sawyer's Walk has made a proposal to
the CRA to purchase the fee simple interest of the CRA in the Real Property,
subject to the terms of the Restated Poinciana Lease. The CRA covenants and
agrees, after the Effective Date of this Agreement, to solicit proposals to acquire
the fee simple interest of the CRA in the Real Property, subject to the terms of
the Restated Poinciana Lease (the "Fee Simple Interest"). Subject to the
requirements of applicable laws, the CRA covenants and agrees to solicit
proposals to acquire the Fee Simple Interest within thirty (30) days after the
Effective Date of this Agreement. The CRA will utilize its good faith efforts to
complete the process of analyzing the proposals received with respect to the Fee
Simple Interest, or reject all proposals, within ninety (90) days after the
Effective Date of this Agreement.
10.2. No Commitment to Sawyer's Walk. Sawyer's Walk and
Poinciana acknowledge that the CRA has made no commitment whatsoever to
Sawyer's Walk and Poinciana with respect to the sale of the Fee Simple
Interest beyond agreeing to solicit proposals and no commitment to Sawyer's
Walk or Poinciana should be inferred by the inclusion of this Section 10 in this
Agreement.
10.3. Reiection of Proposals. Poinciana and Sawyer's Walk
acknowledge and agree that CRA has the right to reject all proposals with
respect to the sale of the Fee Simple Interest and the selection of a proposal, if
any, is subject to the approval of the CRA Board.
10.4. Award Contingent on Execution of Restated Poinciana
Lease. Notwithstanding any decision by the CRA Board to accept a proposal to
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