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19-2872S:\Legal\C)ur C3acuments�C)rdi�7anees\l9t(09 VJ [-[ickary i7rdi�7�nce.cic�c • ' � ' • • �; � �� R � ���..... 1 ,,, � ,, � �.,.. � �� ..,... � � ', � L, ► ! � �., . .., �.. 4.. � �' * ► � � ♦ �� �:,. � .�.. � � ���. � � � � � � � � �.. � ,��� R' � ► R � � � � ',, � , ,, � � i � . � ♦ *� � � * � � � ..�. �E� � �'� WHEREAS, on April 3, 2007, the City Council approved a Downtown Reinvestment Grant Program (the "Program"} by Ordinance No. 2007-072; and WHE AS, on Septe ber 18, 2018, the City Cauncil approved changes to the Progr by Ordinance Na. 18-1321; and WHE AS, No an Roscoe LLC applied for a$7,188.59 grant in accordance with the Program; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: - � ♦� ' �- ���� ^ � . ����• • - � . ., ._ ��. � � ' � � . � r � ��; � � �., � .. 1 � ' ' • �t � w i . ..�.. � � , ., � F � • ,....... � - i,,.� ' � • �' ` ' `�, � � � �•�, � .� ., . � � � . - � �, � � ��� ' � ' � l���, ' � � �I � • ♦ , • � � • • . � • ! �� � # � M # !,, � . � � . SECTION 3. This Ordinance shall become effective immediately upon its passage and �-----....�.�...........�._____ approval. The motion to approve this Ordinance was made by �9 �" �a��°��'�� _�� �' �� �°� m____ . and seconded by �'� �,���� .��� ��� �,�___ e� ; the Ordinance was ���x�°����c� and approved by the followin� vote f C� - D l: � , .• • • •• � � � .. �. � � ' . � ' � �� . � , . .� . , ,_., .� .�l�:�t��ia� Absent _.........�.____- �.. _ _ y ����o � �°���'��°" ��s������ ���.������°���:�, PASSED AND APPROVED this the � da of ( � �. �� � � � � �� � �.� � �� ��w � , M� � CHRIS WATTS, MAYOR ATTE5T: ROSA RIOS CITY SECRETARY a�� '^� � � � ` � �, ,� ' ���� ,` �, � � ' ° < � ���� �°�` „�� ~ ,� �d� , fl ,'`"�¢„; �' _ � � „ ��� �, � � � �, , BY. � � ,: � � „� � , �� �' ,.f� �. • � "�� �� � � ��. � � �:. �,�. �.- � _� � � � ; . , � .. _ , �- .... � �.... �� �m� � �� m � � � �,� .. � , APPROVED AS TO LEGAL FORM: �� " �" ` d��° `" �� AARON LEAL, CITY ATTORNEY �'�" �� ��� ` W �N �` �"2� � �+� h u� i . o �. � " �" �� � M BY: ___ ������ ��� �������� �,����� ��� ir � � . . . , This Downtown Reinvestment Grant Agreement (the "Agreement") is entered into by and between the City of Denton, Texas (the "City"), duly acting herein by and through its City Manager, Tadd Hileman, and Norman Roscoe, LLC, 109 W. Hickory Street ("Owner"}, duly authorized to do business and in good standing in the State of Texas, duly acting herein by and thraugh its authorized ofiicer. WHE AS, the City Council of Denton, Texas (the "City Council") has adopted an ordinance which provides that it elects to be eligible ta participate in downtown reinvestment grant incentives and has adopted guidelines and criteria governing downtown reinvestment grant incentive agreements known as the Downtown Reinvestment Grant Program Policy (the "Program"), a copy of which is an file in the City of Denton Economic Development Office and which is incorporated herein by reference; and WHE AS, the Program constitutes appropriate "guidelines and criteria" governing downtown reinvestment grant incentive agreements to be entered into by the City; and WHEREAS, the Owner will be the owner or have a leasehold interest, as of the Effective Date (as herein��i���r° �I�[�N��.�.�}� e�i' ��r-��in real ���rcK����.��'��� morr�. �����•�.icularly de��:�•�1��� in ��;�l�i��it "A" attached hereto ��x�.��� �r�a����N ���w�°���I���w� 1����°�in by �+�lc��`a��d���� and t�������1�; a part of ��7�� �,�.;ree��r���M�t for all purposes (the "Premises"); and WHEREAS, on the 17t" day of September, 2019, Owner submitted an application for a reinvestment grant with various attachments to the City cancerning the contemplated use of the Premises (the "Application"), which is attached hereto and incarporated herein by reference as Exhibit "B"; and WHEREAS, the Downtown Economic Development Committee, Econamic Develop- ment Committee, Economic Development Partnership Board, and City Council determined that the cantemplated use of the Premises, the Improvements (as hereinafter deiined} to the Premises as set farth in this Agreement, and the other terms hereof are consistent with encouraging development in accordance with the purposes and are in compliance with the Program and similar guidelines and criteria adopted by the City and all applicable law; NOW, THEREFORE, the City Manager and Owner for and in consideration af the premises and the promises contained herein do hereby contract, covenant, and agree as follows: l . TERMS AND CONDITIONS OF REIMBURSEMENT G NT � • •� . � • . � � . � . * . -- . , . . . • • � • � . � . _ . �� _,_ . . _�� : . . '� � * - � �. . , , 1. A reimbursement grant in an amount not to exceed $7,188.59 (the "Grant") attributable ta new Improvements, as hereinafter defined, being constructed on the Premises. : ' ♦ � • � - � - . . i '. . ! • - � i � . - . • �� � . .�- w •. .; ,,. , •_ .�- . � •. . - - - . •- •'• � : � . . - � * . . � . . . . � • � � ��� - * - � . . .'�� - � � � �- - � r- �- � �� . � . � •. . - •� • � • . • � - . + * ;, . • � • ' � � � �'• + D. Owner agrees to camply with all the terms and conditions set forth in this Agreement. II. CONDITION OF REIMBURSEMENT . . � , � � . .� . � - � �r' . . �. � �. . . . . � . • '� � •�- . � -��• r ��� • �- .�� ��� - B. Prior to the award of the Grant, Owner shall have constructed the Improvements as specified in Exhibit "B." , - .; r # - . . �'- � •. . .. � . * � • w : r # . . . . ,�- w , ., � � . .. • • � • - -• -r � . � �_ _ - . ���� • . � D. Prior to the award of the Grant, Owner shall own or have a leasehold interest in the Premises. III. RECORDS AND EVALUATION OF PROJECT . # , * # •� . ' . • . � . �. � * . . . . � - • � - - . • . � . � - � � , . � . � . , - � � � � � ' ' �� � �� � - - � . � - - ► � - �� - � - . � - . � � �� - �� �� � . - _ . � � � ��� : �� . + - �- . • . � � r � w . , -• - •' ♦ . �' r� - . . . � •' • ��� . � 7 � � ��I�� # � A. The City has determined that it has adapted guidelines and criteria for the Program agreements for the City to allow it to enter into thYs Agreement containing the terms set forth herein. �� . The City has determined that procedures followed by the City conform to the requirements of the Code and the Program. . . �. # � . �� �. �.. _ � , � • , . � �, _ • - # -, , w . � ' � ; -- • w • . � -_ , • , � �' � � � . , • , � -r � � � ` � �� ' ' � � � ��� � � s ' • � ���� - • •�'��� ' • ^� . � • - - • �� � �� �� � � � - • � •w . , - - •. •- . , -� . � - -� . � .:` • • r • •` • + • ' � '♦ #� � • •� '. 1' + � . + � •r• � . w !' � � # • .. # •�� �• ; �� VI. CITY COUNCIL AUTHO IZATION � - - . ,' � `• v - w �` •. �- � • � , � . � +' ,, ,,. � . � ���- � '�: . - � . - w • ' � �. ._ .• . . . � � . * � � - � , � � � 1 �';�� •� •, �', �� � �'�,� �;� � •." # '�• � �'� � ' � ... s • � ..: • • �...... • ' � �'�.. � ��. ! • � �! � '�.. ! f 1 �� �!� �• , . � ' � . + ` , � ! - . .�� ��. ^ ' # ` • , • • ' � •' ��' � �' ^• � � � 1�• � � ��'�#i!"�� � #�1 1, • �i'` � . ' '� • , . . ' + . � . !; . �. # . . � � �, ♦ ! f ' • �' ' � ' •' � � ' !, # � ', � . � � � 1 � • • �' ' . . •• w � �, � �. �.. `�' � i w�' � •, . . � •� � � �' ' �' � � � ' r � ��� � ` � • ! � � ' ` " � ,, � . � « � _ � ardinances, resalutions, ar City Council actions authorizing same and Owner shall be entitled to intervene in said litigation. IX. APPLICABLE LAW This Agreement shall be construed under the laws of the State of Texas and is fully performable in Denton County, Texas. Venue for any action under this Agreement shall be in Denton County, Texas. . . . . • , ��� , � ���� - � � � - - � , *� ' " " � " ` ' " • , �. . . . � _ . ♦ � . � � .� . -- - : 1 This Agreement shall be binding on the parties and the respective successors, assigns, heirs, and legal representatrves. � .. .�. ' ' •. ..., • ' !',. �. .,,,. • �.., � " • # �,,, � ! ' �,. ^ ' ` �,, + # � � ,., ,, � �. � + ', i • � ♦ ' � � * � ', # + ! . + XIII. SECTION AN OTHER HEA INGS � � � . .,� , � , .w � , .. .� � .� . . . �. � �,� - � _ � . �� - • ��-. ��� � �- • -��. � � `. " " . , . . � _ • • . � � . -� . , .. . - -• • - �. - � . . , r. - • • _ - � - �- � •. . �� . � . � �t . � `� w � . w ���� -��� . , �. * .� . # . � � � r � • � • � , . • ; . •.. �.* .. -. _ • w �" ` � � � . • • . , * .. XVI. FORCE MAJEURE If, because of flood, fire, explosions, civil disturbances, strikes, war, acts of God, or other causes beyond the control of either Party, either Party is not able to perform any or all of its obligations under this Agreement, then the respective Party's obligations hereunder shall be suspended during such period but for no longer than such period of time when the party is unable to perform. XVI. INDEMNIFICATION OWNER SHALL INDEMNIFY, SAVE AND HOLD HARMLESS THE CITY, ITS ELECTED OFFICIALS, OFFICERS, AGENTS, ATTORNEYS AND EMPLOYEES (COLLECTIVELY, THE "INDEMNITEES") FROM AND AGAINST ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION WHICH DIRECTLY OR INDIRECTLY ARISES FROM CITY'S GRANT AND OWNER'S PERFORMANCE OF ITS OBLIGA- TIONS HEREUNDER AND ANY CONTESTS OR CHALLENGES TO THE LEGAL AUTHORITY OF THE CITY OR OWNER TO ENTER INTO THIS AGREEMENT AND ANY AND ALL LIABILITIES, LOSSES, COSTS OR EXPENSES (INCLUDING AT- TORNEY'S FEES AND DISBURSEMENTS) THAT ANY INDEMNITEES SUFFER OR INCURS AS A RESULT OF ANY OF THE FOREGOING; PROVIDED, HOWEVER, THAT OWN�R SHALL HAVE NO OBLIGATION UNDER THIS PARAGRAPH TO THE CITY WITH RESPECT TO ANY OF THE FOREGOING ARISING OUT OF THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF THE CITY OR THE BREACH BY THE CITY OF THIS AGREEMENT. This ������.�.������r���, i�� executed to be effective on the executed date of the ���°�� day of � ,�f������_, (the "Effective Date") by duly authorized officials of the City and �' "N � ��������.. .,m ��v���:,,�. �`�°�""� OF DENT01�1 �1 I1� �/�, .�._..�,...��_ ��.,, .... 1 i.�.P� V � t`�`�D �HILEMAN, CITY MANAG ER Page 5 ATTEST: ROSA RIOS, CITY SECRETARY ,�� �� � ....�, r� , . �a � � � � . �� ' ,,.,., ,�.._. �..�...�.,�m "� r�r. " �m': .....m .. �...�..>. : ....����..,_........_....... APPROVED A5 TO LEGAL FORM: � � i I ";�" ATTORNEY� ��:�r� I�l����i�, ��°�" �" �� �� . ���� "� �.., �` �� � � ���,,��� . �.. .. __ ...����� .. � _�� .....��......._„ �r�.�j.� �;� NORMAN M�()"��:��I�a, � s�" W�,� �,... ��� �� '� '� . � � B ,, ��� Y' �, ,.� N � Title: � W ., l, � .....� Page 6 ; . . 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