The URL can be used to link to this page

Home My WebLink AboutJoshi and Associates of Florida Exclusive Negotiating Agreement September - 1999 09 13 , 09-21-9~ 05:58 PM FROM CITY ~~ W!N'[~K ~:~U~ SEPTEMBER 13. 1999 PAGE 1 exCLUSIV! NEGOTIATING AGRI!EMENT This agreement dated September 13, 1999 is hereby entered into by and between the Oity of Winter Springs hire In referred to .. the "ClTY" and JOIhl and Aucciatel of FlOrida heretn after referred to as the "OEVELOPER" pursuant to the terms and condItions - .et forth herein. The partie. herebY agree.s folloW8: REC1TA\.8 WHEREAS, the CITY dell.... to effeduate the plan of a phued development of the real propertl.. located withIn the Project Area and more specifically Identified IS approximately 43.40 acres. The exact d8lcnptlon of said propertiel t. attaChed hereto and marked Exhibit "Au. The proposed Development of the Nee Tradltlona' Town Center for a High Intensity Mixed Use Development wlll Include commercial, retail, offlC81, parka. single and multi family reaidentisl. recreational. ernBrtalnment. dining and hotel facilities or as otherwise be agreed upon by CITY and DEVELOPER, and WHEREAS, the CITY end DEVEL.OPER desire to .ntar into this agreement In order to set forth the rightl and duties of the parties during the Exclusive Negotiating period. NOW, THEREFORE, the ~rtl" agree .a follows: 1. The CITY and DEVELOPER .gree that this Excluaive Negotiating Agreement (ENA) shl'ln expire on or before December 1, 19;9 with the full underetanding that during the contract period the partie. to this agreement shall negotiate in good faith to prepare and exeC\.lte a Development and Oiapoaition Agreement (DOA) or alternately an Owrter Participation Agreement (OPA) relating to the development of a fl,..t quality, state of the art technology advanced Mixed Use Project on the above described 1"f'll.41 :,roperty in confonnation with the design guidelines and district r",,-,dS:Js of the ctTY. -- 2. During the period while the ENA is in effect, either party may terminate this agreement for just cauae by providing written notice of termination by certified mall return - U~-~l-YY U~:~~ fM r~vM L.t~ vr ft:a!:~ :rau: SEPTEMBER 13. 1999 PAGE 2 receipt requested stating the reason .or mlons for termination. 3. Developer WILL PROVIDE THE oJty with 6it leatt the following, prior to execution of a DCA: Land Acquisition Package that Includes purchase of at l888ton8 hundred (100) % or more of total land required for initial phase of Development Letters of Intent from specialty retailers, hotels, ....taurantl, aommtrolal offices and other users Indicating their participation In the Initi.' ph... of Development Architectural drawings and dlllgn layout depicting the Proposed Malter Plan of the subject aite end n.'ll'1itia' ph.... Preliminary engineering, construction and development schedu1e. Prelimlnary approval from all applicable government egencin aupportlng the proposed Malter Plan and Ita initial ph.... The property valuation, appral.aland other considerations shall be negotiated during cost analysll. Pro-forma of income and expenH, predevelopment funding budget and construction COlt analysis. Financial Commitment for the purchase of prop.rtlsl, land lOins, construction and permanent lOll. 4. The CITY agrees not to negotiate with another developer for the area described In exhibit "'AtI durIng the period the ENA is in effect. e. b. c. d. e. f. g. h. 09-21-S9 ~5:~e PM F~QM ClTY 0F W!N'fER SPRGS --1-. -- ---- -:l):'-~I.~.' SEPTEMBER 13. 1999 PAGE 3 5. Neither thi, agreement nor any intarHt herein may be an\gned or transferred VOluntRrUy or by operation of law without the written approval at the OfTY. 6. The CtTY sha" not be llab'e for any reel astatt commission or any broker fees which may arlIt from perfonnance of this Agreement by the parties, or any other pradevllopment coata gen....ted by the Agreement. 7. The oeVEL.OPER is required to make a fun disclosure to the CITY of its princlpal8. office". ItOCkhO'dera, partners, joint ventu...., employ- and other 8IIOCIatu and .n other pertinent lnfoCmatlon conceming the DEV!LOPER and 1tI ...ocl.8. 8. A detailed deacription of DEVELOPER'S predevelopment expen- and intertm 108M wUl be provided upon request. 9. In order to expedite an early completion of this project, the C\TY will offer non-monetary ,,"tance by felt tracking permits and provide auiltanee for Infrastructure, design and lanel assemblage. The CITY upon request by the DEVELOPER will evaluate the b&neflta of placing the propertitl and the proposed project in the Redeve\opment Agency (RDA) or Economic Devctlopment Agencv (EDA) .phere of influen<:e if applicable government la~ permit Such placement of the project win 8n301$ the use of tax increment financing or other meant of assistance based on the needs of the project In order to help make the project economically feasible. 10. The CITY agrees to provide office 'p.ce, te,ephone~ and staff assistance to Mr. Joshi while the eNA is vand and still in force. -. 11. If the negotiationa culminate in a development agreement Ilgned by the DEVELOPER and the CITY 1 such an agreement wUl become effective only after and If the agreemtlOt has been consk1ared .no approved by the CITY after the public hearing and appl'Oval of the CtTV COUNCil. ,,!"\ :'\C ..~....... ~u "''','\'tf r'~~' ~,!\ "I'I'it\E~ ~~"','~~ 'J'.:i-:':-~-' ~I~:':tl !;11 t"v", "Jd Ur "In l\ ~rK\.1v ~ ." -, -. '''8' SEPTEMBER 13. 1999 PAGE 4 IN WITNess WH!REOF, The parties have exeouUtd thie Ig....ment .a of the date flNt writtan above. CITY OF WINTER SPRINGS JOSHI & ASSOCIATES QF FLORIDA BY: ~ .,~ "" , onald W. Mclemore City Manager BY: --