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LDA for Continuum of Care / Route 34 Development

LDA for Continuum of Care / Route 34 Development

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Published by NHUDL
LDA for Continuum of Care / Route 34 Development
LDA for Continuum of Care / Route 34 Development

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Published by: NHUDL on Feb 19, 2014
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04/03/2015

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DEVELOPMENT AND LAND DISPOSITION AGREEMENT
This Development and Land Disposition Agreement (this “Agreement”) is entered into as of the  ____ day of _______________, 201_ (the “ffe!tive Date”), "y and "et#een the $ity of %e# &aven, a m'ni!ipal !orporation organied and eisting 'nder the la#s of the *tate of $onne!ti!'t, #ith a mailing address of 1+ $h'r!h *treet, %e# &aven, $onne!ti!'t 0+10 (the “$ity”) and $-%T.%// $%TLA% D3L-%T LL$, a limited lia"ility !ompany organied and eisting 'nder the la#s of the *tate of $onne!ti!'t, #ith a mailing address of 10 ain *treet, *'ite 4, iddleto#n, $onne!ti!'t 0+56 (the “Developer”)7
BACKGROUND
The $ity is the o#ner of that !ertain par!el of land lo!ated in the 8est iver neigh"orhood !onsisting of approimately 79: a!res lo!ated at 259 Legion Aven'e, and "o'nded "y D#ight *treet, ;rontage oad, Legion Aven'e and -r!hard *treet, as more parti!'larly des!ri"ed in *!hed'le A atta!hed hereto and in!orporated herein "y this referen!e (the “roperty”)7 The roperty is lo!ated in the area referred to as the o'te 95 !orridor, a largely 'ndeveloped area lo!ated "et#een ar< *treet and lla =rasso 4o'levard (o'te 10) that is !omprised of 52  par!els totaling approimately 9+ a!res7.t has "een a goal of the $ity to advan!e a !omprehensive !omm'nity revitaliation strategy for the o'te 95 !orridor, in!l'ding a plan to !reate an environment that #o'ld !reate >o"s and ho'sing at all in!ome levels for residents, "ring in ne# taes for the $ity?*tate and re@invigorate the 8est iver, &ill and D#ight neigh"orhoods "y providing needed amenities s'!h as family resta'rants and other retail, and "y re@!onne!ting the neigh"orhoods along the o'te 95 !orridor to !entral employment pla!es and to other transportation nodes7'rs'ant to the foregoing, the $ity plans to s'"mit a map amendment to the $itys oning ordinan!e !overing the o'te 95 right@of@#ay, o'te 95 8est !orridor from D#ight *treet to lla =rasso 4o'levard, and !ompanion 'r"an design g'idelines in order to a!hieve the same7 $ontin''m is a non@profit !orporation that has "een providing ho'sing and residential s'pport servi!es to persons #ith psy!hiatri! and developmental disa"ilities sin!e 1:++7 .n 2000,
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$ontin''m la'n!hed $ontin''m &ome &ealth, .n!7, (“$&&”) #hi!h is a edi!are !ertified home health !are provider7 $ontin''m operates 26 mental health programs and 19 programs for  persons #ith developmental disa"ilities in 50 separate lo!ations7 .n 2012, $&& !ompleted over 10,000 home!are visits, and has seen a 600 in!rease in the n'm"er of persons served over the  past 10 years7 $ontin''m has over +00 employees of #hi!h approimately 9 are %e# &aven residents, and as a res'lt of the rapid gro#th in its operations, reE'ires a ne# site for its home!are operations and administrative offi!e f'n!tions7 $ontin''mFs goal for this ne# spa!e is to permit it to !onsolidate its fo'r (5) eisting %e# &aven offi!es into one lo!ation and to !ontin'e to epand its operations7$ontin''m desires to remain a %e# &aven "ased operation, "'t has fo'nd it diffi!'lt to identify a %e# &aven lo!ation s'ita"le for its operational needs7 $ontin''m has determined that the roperty is an ideal lo!ation for ne# epanded spa!e, as it is proimate to many of its eisting residential programs and other !omm'nity reso'r!es a!!essed "y $ontin''mFs !lients and staff7$ontin''m has entered into dis!'ssions #ith $enterplan, a !ommer!ial real estate developer, #ith a vie# to develop the roperty as a mied 'se retail?!ommer!ial development #hi!h #o'ld in!orporate and ho'se $ontin''mFs home!are operations and administrative f'n!tions7 $ontin''m and $enterplan have >ointly approa!hed the $ity #ith plans to develop the roperty into the ro>e!t7The long time va!ant roperty that has served as a par<ing lot for a n'm"er of years is re!ognied as environmentally impa!ted, #hi!h has in!reased development !osts and signifi!antly slo#ed the redevelopment opport'nities for the roperty7 $ontin''m $enterplan Development LL$ has agreed to remediate nvironmental $onditions on the entire roperty, if reE'ired "y appli!a"le la#, as part of the overall development of the $ontin''m ar!el and the remainder of the roperty7The $ity, $ontin''m and $enterplan previo'sly entered into a emorand'm of /nderstanding dated *eptem"er 21, 2012, as etended on -!to"er 5, 2019 (the “-/”), setting forth the "asi! elements to "e in!l'ded in the ro>e!t, the $itys general vision and goals for the redevelopment of the roperty as a vi"rant mied@'se development !omprised of a variety of potential 'ses in!l'ding offi!e spa!e, hotel?hospitality, residential, resta'rant, retail and par<ing, #ith d'e
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regard to a sense of s!ale, for the ad>a!ent neigh"orhoods !'rrently dis!onne!ted "y the 'n'sed and va!ant portions of the o'te 95 !orridor7 .n parti!'lar, the arties anti!ipate that the pro>e!t #ill !onsist of the $ontin''m 4'ilding !onsisting of approimately 90,000 sE'are feetG retail spa!e !onsisting of approimately 50,000@0,000 sE'are feetG and !ommer!ial?hospitality spa!e !onsisting of approimately 0,000@60,000 sE'are feet #ith the appropriate sE'are footage(s) of  p'"li!ally a!!essi"le open spa!e to assist in !reating a more liva"le environment7Developer is a spe!ial p'rpose entity formed "y $ontin''m and $enterplan to 'nderta<e the development of the roperty7 'rs'ant to the -perating Agreement and Development and $onstr'!tion anagement Agreement "y and "et#een $ontin''m and $enterplan, $ontin''m and $enterplan have allo!ated the vario's responsi"ilities "et#een them for the development of the ro>e!t as more spe!ifi!ally des!ri"ed herein and therein7/sing the -/ as the frame#or< for the negotiations "et#een the $ity and the Developer for the development of the ro>e!t on the roperty, and re!ogniing the interplay of real estate and finan!ial mar<et !onditions #ith the !omposition of land 'ses in the ro>e!t, the $ity and the Developer have agreed to the follo#ing terms and !onditions p'rs'ant to #hi!h the $ity and the Developer shall !olla"orate in their efforts to develop the ro>e!t, as hereinafter set forth7
ARTICLE IINTERPRETATION AND DEFINITIONSSection I.1Interpretation
(A)8ords s'!h as “here'nder,” “hereto,” “hereof” and “herein” and other #ords of similar import shall, 'nless the !ontet reE'ires other#ise, refer to the #hole of this Agreement and not to any parti!'lar arti!le, se!tion, s'"se!tion,  paragraph or !la'se hereof7(4)A referen!e to “in!l'ding” means in!l'ding #itho't limiting the generality of any des!ription pre!eding s'!h term and for p'rposes of this Agreement the r'le of e>'sdem generis shall not "e appli!a"le to limit or restri!t a general
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