HomeMy WebLinkAbout02- Wal-Mart; Wal-Mart Expansion
09/12/02 TBlT 12:05 FAX 406 581 5144
GOETZ LAW FIRM
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AGREEMENT RE: SATISFACTION OF CONDITION 44
In 2001, Bay Area Economics (BAE) conducted and submitted to the City of Bozeman lUl
economic impacts analysis of Big Box Retailing. The Report identified those impacts and suggested
mitigation for them. It also suggested, on a broader scale, further studies with respect to other issues
and other companies that exist itrespective ofWal-Mart's expansion that were not studied by BAB.
To mitigate those site-specific impacts studied and identified by BAE as a result of the Wal-Mart
expansion, and in full satisfaction of condition Number 44 of the Bozeman City Commission's approval
of the Wal-Mart Major Site Plan with Certificate of Appropriateness with deviation, dated September
23,2001, Wal-Mart shall, at the time Of issuance of the Final Certificate of Occupancy, pay to the City
of Bozeman, the sum of$500,000, less the cost of the BAE study previously paid by Wal-Mart and the
Landowner (agreed by the parties to be $50,000), and less any amount paid for off-site improvements,
described below and on Exhibit A, in excess of the sum of $218,000, which amounts shall be applied
as a credit to Wal-Mart at the time the Final Certificate of Occupancy is issued by the City of
Bozeman. The receipt of the sum of $500,000, less the cost of the BAE study ($50,000) and excess
off-site improvement costs, if any, is in full and complete satisfaction of condition number 44 and is
accepted by the City as full payment for the mitigation of any economic impact to the City of Bozeman
as a result of the WaI-Mart expansion, irrespective of future: modifications, if any, to the Major Site
Plan approved by the City of Bozeman.
As additional consideration for the payment of the foregoing swn in satisfaction of condition No.
44, the City of Bozeman agrees that Wal-Mart's financial responsibility for certain off~site
improvements, required as a condition of approval for the Major Site Plan Application, shall not exceed
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GOETZ LAW FIRM
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the sum of $218.000.00. The offsite improvements subject to this Agreement are set forth on Exhibit A
and incorporated by reference.
In the event the off-site improvement expenses referenced in Exhibit A exceed the sum of
$218.000, Wal-Mart shall receive a dollar for dollar credit (in additi.on to the credit for the BAE Study)
which shall be applied to the payment due and owing as satisfaction of condition No. 44 at the time the
Certificate of Occupancy is issued by the City of Bozeman.
This Agreement may be signed in counterparts, including by faxed signature page, each of
which shall constitute an original.
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Dated this lZ.. day of September, 2002.
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Clark Johnson, City Manager
AU~ui~~1%;zeman
Robert M. Bedard, Wal.Mart
Authorized Agent for Wal.Mart. Inc.
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OFF-SITE IMPROVEMENTS
Baxter Road ImprovcmentslDemolition
Baxter Waterline
West Oak Street Improvements
North 7rIJ A venue Improvements
TOTAL:
GOETZ LAW FIRM
EXHIBIT A
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$100,000.00
$ 23.000.00
$ 70,000.00
$ 25, 000.00
$ 218,000.00