ADOPTED - APRIL 27, 2004
Agenda Item No. 13
Introduced by the County Services and Finance Committees of the:
INGHAM COUNTY BOARD OF COMMISSIONERS
RESOLUTION TO APPROVE A TAX SHARING AGREEMENT WITH LANSING TOWNSHIP UNDER THE URBAN COOPERATION ACT, TO ENTER INTO A SETTLEMENT AGREEMENT WITH LANSING TOWNSHIP AND THE LANSING TOWNSHIP DOWNTOWN DEVELOPMENT AUTHORITY TO RESOLVE PENDING LITIGATION, AND TO AUTHORIZE THE SIGNING OF DOCUMENTS TO SETTLE PENDING LITIGATION
RESOLUTION #04-128
WHEREAS, on October 7, 2003, Ingham County filed a lawsuit in the Ingham County Circuit Court against the Charter Township of Lansing and the Lansing Township Downtown Development Authority (DDA), Ingham Circuit Court Case No. 03-1823-CZ, challenging the validity of the creation of the Lansing Township DDA, and objecting to the involuntary capture of Ingham County's incremental tax revenues from the Lansing Township DDA district; and
WHEREAS, in Court-ordered facilitative mediation held on January 9, 2004, representatives of the parties discussed the possibility of resolving the litigation by entering into a voluntary tax sharing agreement under the Urban Cooperation Act, MCL 124.501 et seq., to share a certain portion of Ingham County's incremental tax revenues from the development district with Lansing Township for certain defined infrastructure projects; and
WHEREAS, at a special session of the Ingham County Board of Commissioners held on January 20, 2004, the Board passed a motion directing the County Attorney and staff to develop a proposed agreement with Lansing Charter Township, based on principles developed during mediation, and to bring such proposed agreement back to the Board of Commissioners for its consideration in its normal committee process, including any public hearing as may be required; and
WHEREAS, the parties have drafted a proposed Tax Sharing Agreement Under the Urban Cooperation Act, a copy of which is attached as Exhibit 1, as well as a proposed Settlement Agreement to resolve the pending litigation, a copy of which is attached as Exhibit 2; and
WHEREAS, Section 5a(3) of the Urban Cooperation Act, MCL 124.505a(3), requires that the legislative body of each party to a tax sharing agreement must hold at least one public hearing before approval of a tax sharing agreement; and
WHEREAS, Section 5a(4) of the Urban Cooperation Act, MCL 124.505a(4), provides that if within 45 days of the meeting at which a tax sharing agreement is approved by a governmental unit, a petition is signed by a minimum of 8% of the registered electors of that local governmental unit voting in the last general election before the adoption of the agreement, a referendum shall be held in that local governmental unit at the next regularly scheduled election or at a special election held for this purpose; and
WHEREAS, on April 6, 2004, the Lansing Township Board of Trustees adopted a resolution (a) approving the Tax Sharing Agreement Under the Urban Cooperation Act contingent upon the Ingham County Board of Commissioners approving the Tax Sharing Agreement in substantial form, and further contingent upon the lapse of 45 days after approval of the Tax Sharing Agreement by both parties without a petition for referendum being filed, and (b) approving the Settlement Agreement; and
ADOPTED - APRIL 27, 2004
Agenda Item No. 13
RESOLUTION #04-128
WHEREAS, on April 27, 2004, pursuant to notice duly published and posted, a public hearing was held before the Ingham County Board of Commissioners on the approval of the Tax Sharing Agreement Under the Urban Cooperation Act; and
WHEREAS, the Ingham County Board of Commissioners desires to settle the pending litigation by approval of and entry into the Tax Sharing Agreement Under the Urban Cooperation Act, and the Settlement Agreement, subject to the statutory referendum period.
THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners hereby approves entry into the Tax Sharing Agreement Under the Urban Cooperation Act, and the Settlement Agreement, attached as Exhibits 1 and 2, respectively, subject to the right of the voters to file a petition for a referendum on the Tax Sharing Agreement within 45 days; and
BE IT FURTHER RESOLVED, that the Chairperson of the Board of Commissioners and the County Clerk are authorized to sign the Tax Sharing Agreement Under the Urban Cooperation Act, and the Settlement Agreement, on behalf of Ingham County, upon review and approval by civil counsel; and
BE IT FURTHER RESOLVED, that upon the entry by all parties into the Tax Sharing Agreement Under the Urban Cooperation Act, and the Settlement Agreement, the County Attorney is authorized to enter into a Stipulation to Dismiss and sign any other necessary documentation to finally resolve the pending litigation.
BE IT FURTHER RESOLVED, that the agreement presented for consideration is approved with modifications in substantial form as the attached.
BE IT FURTHER RESOLVED, that the County Attorney is authorized to negotiate the final language with regards to the modifications.
COUNTY SERVICES: Yeas: Swope, De Leon, Hertel, Severino
Nays: Thomas Absent: Nevin Approved 4/20/04
FINANCE: Yeas: Lynch, Grebner, Dedden, De Leon, Thomas
Nays: Minter Absent: None Approved 4/21/04
TAX SHARING AGREEMENT UNDER THE URBAN COOPERATION ACT
This Tax Sharing Agreement Under the Urban Cooperation Act ("this Agreement") is entered into this day of , 2004, between Ingham County, a Michigan county organized and operating under Const 1963, art 7, �1, and MCL 45.1, et seq., with its principal offices located at Mason, Michigan, and the Charter Township of Lansing ("Lansing Township"), a Michigan charter township organized and operating under the Charter Township Act (Public Act 359 of 1947, as amended; MCL 42.1, et seq.), with its principal offices located at 3209 West Michigan Avenue, Lansing, Michigan.
Recitals
WHEREAS, pursuant to Resolution No. 95-174 (the "Resolution"), Ingham County has an established policy of entering into tax sharing agreements with local governmental entities for specifically defined infrastructure projects which are directly related to economic growth within a development area; and
WHEREAS, consistent with the Resolution and pursuant to the legal authority granted by Section 5a of the Urban Cooperation Act (MCL 124.505a), the parties desire to enter into this Agreement to pursue certain infrastructure projects associated with economic benefit to the citizens of Ingham County, to be accomplished by the capture and sharing of certain Ingham County tax revenues with Lansing Township, and to specify how those tax revenues will be expended by Lansing Township; and
WHEREAS, further, the Urban Cooperation Act (Public Act 7 of 1967, Ex. Sess., as amended; MCL 124.501, et seq.) provides that local governmental units may enter into interlocal agreements, which agreements may provide for a joint exercise of any power, privilege or authority which the local governmental units share in common and which each might exercise separately; and
WHEREAS, the Urban Cooperation Act provides for the sharing between governmental units of revenue derived from the levy of general ad valorem property taxes or specific taxes levied in lieu of general ad valorem property taxes; and
WHEREAS, the parties hereto desire to enter into this Agreement to provide for and to promote the economic development of a certain area of property which is located in Lansing Township, (as more specifically denoted in the development area map, attached and incorporated by reference as Exhibit A), for the benefit of Ingham County, Lansing Township, and the surrounding community.
Terms and Conditions
1. Legal Authority. Lansing Township and Ingham County enter into this Agreement under and pursuant to the legal authority granted by the Urban Cooperation Act.
2. Tax Sharing/Capture. Pursuant to this Agreement, Ingham County agrees to share, and Lansing Township is authorized to capture, certain Ingham County tax revenues as described below:
A. Beginning with the December 1, 2003 tax levy, and annually thereafter, Ingham County shall share with Lansing Township, and Lansing Township shall capture from Ingham County, certain Ingham County tax revenues, specifically, the capture of 80% of the increase from tax year 2002 of Ingham County's general millage tax revenues in the development area as depicted in Exhibit A.
B. Lansing Township shall capture Ingham County tax revenues in a total aggregate amount not to exceed Eleven Million Dollars ($11,000,000) (the "Total Eligible Tax Capture"). Once Lansing Township has captured the Total Eligible Tax Capture, or such lesser amount as provided in subsections (C) through (E) below, Lansing Township shall cease capturing Ingham County tax revenues pursuant to this Agreement.
C. Of the Total Eligible Tax Capture, Lansing Township shall capture and expend Ingham County tax revenues in an amount not to exceed Seven Million Dollars ($7,000,000) for direct costs related to the projects identified in Exhibit B, attached hereto and incorporated herein by reference (the "Project List"). Direct costs related to the projects on the Project List include, but are not limited to, costs for acquisition, engineering, construction, as well as traffic and engineering studies.
D. Of the Total Eligible Tax Capture, Lansing Township shall capture and expend Ingham County tax revenues in an amount not to exceed Four Million Dollars ($4,000,000) for financing costs related to the projects identified in the Project List, Exhibit B hereto. Financing costs related to the projects on the Project List include, but are not limited to, interest, bond/note counsel, financial advisor, underwriting, ratings, bond insurance, and other related financing and debt issuance costs.
E. In the event that the actual total direct costs related to the projects on the Project List, Exhibit B hereto, amounts to less than Fifteen Million Six Hundred Fifty Thousand Dollars ($15,650,000), the capture of the Seven Million Dollars ($7,000,000) in direct costs from Ingham County shall be reduced by a proportionate amount, and the capture of the projected Four Million Dollars ($4,000,000) in financing costs from Ingham County shall also be reduced by a proportionate amount. Once Lansing Township has captured from Ingham County an amount equal to the Total Eligible Tax Capture, or such lesser amount due to reductions related to actual direct and financing costs for the projects on the Project List, Lansing Township shall cease capturing Ingham County tax revenues pursuant to this Agreement.
F. General millage tax revenues captured by Lansing Township from Ingham County's December 1, 2003 tax levy shall count towards the Total Eligible Tax Capture and the tax capture limits for direct and financing costs for the projects on the Project List, Exhibit B hereto, as described in subsections (C) and (D), above. Any tax revenues captured by Lansing Township in excess of those agreed upon in this Agreement shall be refunded to Ingham County, with interest.
G. Except as provided in this Agreement, Lansing Township shall not capture Ingham County tax revenues, including but not limited to taxes captured on behalf of the Lansing Township DDA, or any successor downtown development authority.
3. Capture of Township Taxes. This Agreement is contingent upon Lansing Township
capturing, for each of the years that it captures Ingham County tax revenues pursuant to this Agreement, 80% of the increase from tax year 2002 of the Township's general millage tax revenues in the development area as depicted on Exhibit A, for direct and financing costs for the projects listed on the Project List, Exhibit B hereto, as well as other projects to be undertaken by Lansing Township in the development area.
4. Financing. In the event that Lansing Township chooses to finance the acquisition and/or construction of any of the projects identified in the Project List, Exhibit B hereto, it shall exercise reasonable prudence in obtaining and determining the terms of such financing.
5. Progress Reports. On or before January 15, 2005, Lansing Township shall provide to Ingham County a detailed Project List (the "Detailed Project List"). The Detailed Project List shall include a description of each of the projects identified in the original Project List which is attached hereto as Exhibit B. The Detailed Project List shall include a timetable for the commencement and completion of the projects, the anticipated cost, and the proposed method of financing for each of the projects, including the expenditure of captured Ingham County tax revenues for each of the listed projects. The Detailed Project List, unless objected to by Ingham County, shall replace the original Project List, Exhibit B hereto. Ingham County, through its County Controller, shall have until March 1, 2005 to make reasonable objections to the Detailed Project List as being inconsistent with the intent of Ingham County to support infrastructure development as envisioned in the original Project List. Lansing Township may undertake, or make progress towards the completion of, any project on the original Project List, Exhibit B hereto, or to projects on the Detailed Project List that are not the subject of an objection made by the Ingham Controller pursuant to this section.
Beginning January 15, 2005, Lansing Township shall annually issue a report to Ingham County, which report shall describe the capture and expenditure of Ingham County tax revenues, and the progress made towards the construction and completion of the projects identified in the Project List, Exhibit B hereto and the Detailed Project List. Lansing Township shall provide Ingham County with such an annual progress report by no later than January 15 of each year, until one (1) year after Lansing Township ceases the capture of Ingham County tax revenues pursuant to this Agreement. Failure of Lansing Township to proceed in a timely manner with construction of the projects as stated in the timetables may be considered a material breach of this Agreement.
6. Changes to Project List. Nothing in this agreement shall prevent Ingham County and Lansing Township from mutually agreeing to alter the original Project List or the Detailed Project List by adding or deleting projects described in the Project List or the Detailed Project List. Lansing Township shall notify Ingham County of its intent to amend the Project List or the Detailed Project List by adding or deleting specific projects, or increasing the share of captured County funds for a particular project by 10% or more. Ingham County shall have sixty (60) days from official written receipt of such notice of intent to notify Lansing Township that it objects to the proposed change as being inconsistent with the intent of Ingham County to support development within the development area. If no such objection is made, the Project List or the Detailed Project List shall be amended in the manner proposed by Lansing Township. If Ingham County's objections are not resolved, the Project List or the Detailed Project List is not amended.
7. Tax Capture. Lansing Township shall capture Ingham County tax revenues so that it only captures tax revenues resulting from Ingham County's "levy of general ad valorem property taxes or specific taxes levied in lieu of general ad valorem property taxes," as provided in Section 5a of the Urban Cooperation Act (MCL 125.505a). Lansing Township shall not capture Ingham County tax revenues under the terms of the Lansing Township Development and Tax Increment Financing Plan, adopted on May 20, 2003 ("the Plan") either now or at any future time. Lansing Township shall not amend or revise the Plan to provide for the capture of Ingham County tax revenues, nor shall Lansing Township adopt a new plan that in any way provides for the capture of Ingham County tax revenues. The terms of this Agreement shall supersede the provisions in the Plan, or any amendments or successors thereto, with respect to the capture and/or expenditure of Ingham County tax revenues. The Plan shall be null and void as to Ingham County.
8. Administration. Lansing Township may, consistent with this Agreement, capture certain Ingham County tax revenues, expend those tax revenues, obtain financing, and undertake the projects on the Project List, Exhibit B hereto, either itself or through the agency of the Lansing Township DDA or other entity under the oversight of Lansing Township.
9. Public Hearing. Pursuant to Section 5a of the Urban Cooperation Act (MCL 124.505a), the Lansing Township Board of Trustees conducted a public hearing regarding the sharing of tax revenues pursuant to this Agreement on April 6, 2004. Also, pursuant to Section 5a of the Urban Cooperation Act (MCL 124.505a), the Ingham County Board of Commissioners conducted a public hearing regarding the sharing of tax revenues pursuant to this Agreement on April 27, 2004. Notice of said public hearings was given by the respective parties pursuant to the Open Meetings Act (Public Act 267 of 1976; MCL 15.261, et seq.).
10. Binding Effect. This Agreement shall bind the parties hereto, their legislative bodies, officials, employees, agents, and any of their successors and assigns. The parties' approval of, and entry into, this Agreement is subject to the right of referendum as provided in Section 5a(4) of the Urban Cooperation Act, MCL 124.505a(4).
11. Filing. A certified copy of this Agreement, along with certified copies of the enabling Resolutions, shall be promptly filed by representatives of the parties with the Ingham County Clerk and the Michigan Secretary of State, Office of the Great Seal, after the Agreement has been fully executed.
12. Notices. All notices, requests and approvals under this Agreement shall be sufficiently delivered if sent by certified mail to the following addresses of the parties, or such other address as may be designated from time to time in writing to the other party.
Ingham County: Ingham County
Attn: County Controller
P.O. Box 179
Mason, Michigan 48854
Lansing Township: Charter Township of Lansing
Attn: Township Supervisor
3209 West Michigan Avenue
Lansing, Michigan 48917
13. Default.
concerns regarding the administration of this Agreement, proposed changes to the Project List or the Detailed Project List, or the expenditure of captured Ingham County tax revenues, representatives of Ingham County and Lansing Township shall attempt to address them informally and in a timely manner. In the event that these attempts are unsuccessful, the Chair of the Ingham County Board shall notify the Lansing Township Supervisor in writing, or the Lansing Township Supervisor shall notify the Chair of the Ingham County Board in writing, of the concerns. Upon receipt of such communication, the Chair of the Ingham County Board shall contact the Lansing Township Supervisor, or the Lansing Township Supervisor shall contact the Chair of the Ingham County Board to schedule a meeting to address the concerns. If the parties fail to resolve the dispute following the meeting, or if no resolution is achieved within thirty (30) days following receipt of the above-referenced communication, the parties shall select an individual who is mutually agreeable to the parties, to mediate the dispute. If either party is dissatisfied with the resolution of the dispute by the mediator, or if the dispute is not resolved within sixty (60) days after the parties agree to a mediator, the parties may agree to submit this matter to binding arbitration with the American Arbitration Association ("AAA"), pursuant to the AAA's commercial rules, for resolution of the dispute. The parties retain the ability to seek legal and equitable remedies as otherwise set forth in this Agreement.
15. Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of Michigan.
16. Entire Agreement. This Agreement constitutes the entire agreement of the parties and may be modified only in a writing signed by the parties. Additionally, this Agreement supersedes any prior agreements, written or oral, and constitutes the sole obligations of the parties to one another with regard to the subject matter hereof.
17. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.
18. Severability. The provisions of this Agreement are severable, and if any part of this Agreement is found to be void or inoperative, the other paragraphs, or portions thereof, shall remain fully valid and enforceable.
19. Term. This Agreement shall take effect on its effective date, defined below, and shall terminate one (1) year after Lansing Township ceases the capture of Ingham County tax revenues pursuant to this Agreement.
20. Effective Date. This Agreement shall take effect on the date the Agreement is filed with the Ingham County Clerk and the Michigan Secretary of State, Office of the Great Seal.
21. Acknowledgment. The parties, by their signatures, acknowledge that they have read and understand this Agreement and have received the advice of counsel before executing same.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written by authority of their respective boards.
INGHAM COUNTY
Dated: ____________, 2004 _______________________________
By: Victor Celentino
Its: Chairperson, County Board of Commissioners
Dated: ____________, 2004 ________________________________
By: Mike Bryanton
Its: County Clerk
STATE OF MICHIGAN )
COUNTY OF INGHAM )
On this ______ day of ____________, 2004, before me personally appeared Victor Celentino, Chairperson of the Ingham County Board of Commissioners, and Mike Bryanton, Ingham County Clerk, to me known to be the individuals described in and who executed the foregoing instrument on behalf of Ingham County and acknowledged the same as their own free act and deed.
___________________________________
_______________________, Notary Public
Ingham County, Michigan
Acting in Ingham County, Michigan
My Commission Expires:_________________
CHARTER TOWNSHIP OF LANSING
Dated: ____________, 2004 _______________________________
By: John Daher
Its: Supervisor
Dated: ____________, 2004 ________________________________
By: Susan L. Aten
Its: Clerk
STATE OF MICHIGAN )
COUNTY OF INGHAM )
On this ______ day of ____________, 2004, before me personally appeared John Daher, Supervisor, and Susan L. Aten, Clerk, to me known to be the individuals described in and who executed the foregoing instrument on behalf of the Charter Township of Lansing and acknowledged the same as their own free act and deed.
___________________________________
_______________________, Notary Public
Ingham County, Michigan
Acting in Ingham County, Michigan
My Commission Expires:_________________
EXHIBIT B
Projects Description Estimated Cost
Complete Wood Road Sewer Extend sanitary sewer from $ 300,000.
Sam's Way north to County line.
Road at abandoned Rail Road Study the feasibility of and construct a $ 500,000.
road within the abandoned rail road
right-of-way from Wood Road to
Coleman or Coolidge Road.
Footbridge/SPUI Study the feasibility of and construct $3,500,000.
a redesigned interchange at Lake Lansing Road and
US-127 that allows for increased motor vehicle and
pedestrian circulation while acting as a gateway
into the Development Area.
Storm Drains Promote the development of property by installing, $4,000,000.
extending, expanding or subsidizing storm drains in
coordination with the Ingham County Drain Commission.
Parking Mitigation Development of vertical or other parking within the $2,500,000.
Development Area to allow higher density uses and
increases to the tax base.
Sidewalks Construct sidewalks along all roads within the $ 250,000.
Development Area.
Lighting Install street and sidewalk lighting along roads and $ 600,000.
within parking areas.
Bury Overhead Electric Work with the Board of Water and Light and Consumer's $4,000,000.
Energy to bury overhead electric within the Development
Area, and subsequently landscape and provide amenities
within the Area. TOTAL = $15,650,000. SETTLEMENT AGREEMENT
This Settlement Agreement (this "Agreement") is entered into this __ day of __________, 2004, by and among: Ingham County, a Michigan county organized and operating under Const 1963, art 7, �1, and MCL 45.1, et seq., with its principal offices located at County Courthouse, Mason, Michigan, and the Charter Township of Lansing ("Lansing Township"), a Michigan charter township organized and operating under the Charter Township Act (Public Act 359 of 1947, as amended; MCL 42.1, et seq.), with its principal offices located at 3209 West Michigan Avenue, Lansing, Michigan; and the Lansing Township Downtown Development Authority (the "Lansing Township DDA"), a Michigan downtown development authority organized and operating under the Downtown Development Authority Act (Public Act 197 of 1975, as amended; MCL 125.1651, et seq.) (the "DDA Act"), with its principal offices located at 3209 West Michigan Avenue, Lansing, Michigan.
Recitals
WHEREAS, in 1983, Lansing Township created and established the Lansing Township DDA pursuant to the DDA Act; and
WHEREAS, in 2003, Lansing Township and the Lansing Township DDA approved and adopted a Development and Tax Increment Financing Plan ("the Plan") to provide for the projects and activities to be undertaken by the Lansing Township DDA and the method of financing those projects and activities; and
WHEREAS, the Plan authorizes Lansing Township to capture, on behalf of the Lansing Township DDA, certain tax revenues from certain taxing jurisdictions (including Ingham County) to finance the projects and activities of the Lansing Township DDA; and
WHEREAS, Ingham County, as a result of the adoption of the Plan and Lansing Township's initiating a tax capture of certain Ingham County tax revenues in 2003, filed a lawsuit against Lansing Township and the Lansing Township DDA in the Ingham County Circuit Court, which lawsuit is entitled "Ingham County v Lansing Township Downtown Development Authority, and Charter Township of Lansing" (Ingham County Circuit Court No. 03-1823-CZ; Hon. Paula J.M. Manderfield), (the "Lawsuit"), seeking to enjoin the capture of its tax revenues by Lansing Township and a court order finding the Lansing Township DDA invalid; and
WHEREAS, on December 2, 2003, the Ingham County Circuit Court entered a Preliminary Injunctive Order which enjoined Lansing Township and the Lansing Township DDA from capturing Ingham County's incremental ad valorem property taxes from the Lansing Township DDA district, and by which Ingham County's incremental ad valorem property taxes that had already been captured from the Lansing Township DDA district in the December 1, 2003 tax levy would be held in a separate interest bearing account without disbursal until further order of the Court; and
WHEREAS, pursuant to the legal authority granted by Section 5a of the Urban Cooperation Act (MCL 124.505a), Ingham County and Lansing Township have voluntarily agreed to enter into a Tax Sharing Agreement to address the capture and sharing of certain Ingham County tax revenues with Lansing Township, and to specify how those tax revenues will be expended by Lansing Township; and
WHEREAS, the parties hereto wish to resolve their disputes in a mutually satisfactory and beneficial manner, and therefore voluntarily execute this Agreement with the express intention of settling, compromising, and extinguishing all claims, counterclaims, demands and causes of action which have been our could have been asserted by the parties in the above-referenced Lawsuit, as well as all causes of action and liability relating to the Lansing Township DDA and Lansing Township's capture of Ingham County tax revenues on behalf of the Lansing Township DDA; and
WHEREAS, Lansing Township, the Lansing Township DDA, and Ingham County agree that they have entered into this Agreement for the purpose of resolving their disputes and not for the purpose of admitting liability by any party.
Terms and Conditions
1. Tax Sharing/Capture. Lansing Township and Ingham County have each voluntarily agreed to enter into a separate Tax Sharing Agreement Under the Urban Cooperation Act ("Tax Sharing Agreement"), by which Lansing Township shall capture Ingham County tax revenues and expend those tax revenues on certain specified infrastructure projects. Neither Lansing Township nor the Lansing Township DDA shall capture Ingham County tax revenues under the terms of the Lansing Township Development and Tax Increment Financing Plan, adopted on May 20, 2003 ("the Plan"), either now or at any future time. Lansing Township and/or the Lansing Township DDA shall not amend or revise the Plan to provide for the capture of Ingham County tax revenues, nor shall Lansing Township and/or the Lansing Township DDA adopt a new plan that in any way provides for the capture of Ingham County tax revenues. The terms of this Agreement shall supersede the provisions in the Plan, or any amendments or successors thereto, with respect to the capture and/or expenditure of Ingham County tax revenues. The Plan shall be null and void as to Ingham County.
2. Settlement and Release. The parties agree for themselves, their representatives, predecessors, agents, successors and assigns, to hereby fully release, waive and forever discharge each other, their representatives, boards, employees, agents, individual board members, individual directors, both past and present in their individual and official capacities, from any and all claims, causes of actions, suits, damages, losses, contracts, agreements, promises, attorney fees, interest payments and expenses, liabilities, and demands in law and equity, from any action or claim which has or may have arisen from: (a) Lansing Township's creation and establishment of the Lansing Township DDA; (b) Lansing Township's and the Lansing Township DDA's approval and adoption of the Plan; (c) Lansing Township's capture of Ingham County tax revenues on behalf of the Lansing Township DDA; (d) Lansing Township's and/or the Lansing Township DDA's expenditure of Ingham County tax revenues; and (e) the Lawsuit.
The parties further agree that, upon the execution of the Tax Sharing Agreement and this Agreement, their legal counsel or other authorized representatives shall execute a stipulation to dismiss the Lawsuit, with prejudice and without costs to any party. The stipulation to dismiss the Lawsuit shall include a provision by which the December 2, 2003 Preliminary Injunctive Order shall be dissolved, and that any of Ingham County's incremental tax revenues that have already been captured in excess of the tax capture agreed upon in the Tax Sharing Agreement shall be refunded to Ingham County, with interest.
3. Acknowledgment. The parties, by their signatures, acknowledge that they have read and understand this Agreement and have received the advice of counsel before executing same.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written by authority of their respective boards.
INGHAM COUNTY
Dated: ____________, 2004 _______________________________
By: Victor Celentino
Its: Chairperson, County Board of Commissioners
Dated: ____________, 2004 ________________________________
By: Mike Bryanton
Its: County Clerk
STATE OF MICHIGAN )
COUNTY OF INGHAM )
On this ______ day of ____________, 2004, before me personally appeared Victor Celentino, Chairperson of the Ingham County Board of Commissioners, and Mike Bryanton, Ingham County Clerk, to me known to be the individuals described in and who executed the foregoing instrument on behalf of Ingham County and acknowledged the same as their own free act and deed.
___________________________________
_______________________, Notary Public
Ingham County, Michigan
Acting in Ingham County, Michigan
My Commission Expires:_________________
CHARTER TOWNSHIP OF LANSING
Dated: ____________, 2004 _______________________________
By: John Daher
Its: Supervisor
Dated: ____________, 2004 ________________________________
By: Susan L. Aten
Its: Clerk
STATE OF MICHIGAN )
COUNTY OF INGHAM )
On this ______ day of ____________, 2004, before me personally appeared John Daher, Supervisor, and Susan L. Aten, Clerk, to me known to be the individuals described in and who executed the foregoing instrument on behalf of the Charter Township of Lansing and acknowledged the same as their own free act and deed.
___________________________________
_______________________, Notary Public
Ingham County, Michigan
Acting in Ingham County, Michigan
My Commission Expires:_________________
LANSING TOWNSHIP DOWNTOWN
DEVELOPMENT AUTHORITY
Dated: ____________, 2004 _______________________________
By: ________________
Its: __________
Dated: ____________, 2004 ________________________________
By: ________________
Its: __________
STATE OF MICHIGAN )
COUNTY OF INGHAM )
On this ______ day of ____________, 2004, before me personally appeared ______________, __________, and ________________, ___________, to me known to be the individuals described in and who executed the foregoing instrument on behalf of the Lansing Township Downtown Development Authority and acknowledged the same as their own free act and deed.
___________________________________
_______________________, Notary Public
Ingham County, Michigan
Acting in Ingham County, Michigan
My Commission Expires:_________________