§ 42-63.5-1 - Definitions.
SECTION 42-63.5-1
§ 42-63.5-1 Definitions. – For the purposes of this chapter, the following terms shall have the followingmeanings:
(1) "Agreement Regarding Providence Place Mall" means theagreement between the EDC and the developer pursuant to which the ProvidencePlace Project will be constructed and developed.
(2) "City" or "Providence" means the City of Providence.
(3) The "developer" means the developer intending to buildand develop the Providence Place Project.
(4) "Economic Development Corporation" or "EDC" means theRhode Island Economic Development Corporation created under chapter 64 of thistitle.
(5) "Ground lease" means the lease of certain interests inthe Project Site between the EDC and the developer for a term of ninety-nine(99) years, with four (4) successive options to extend for additional terms ofninety-nine (99) years each.
(6) "Project Site" means all tracts or parcels of landsituated in the City of Providence, County of Providence, State of Rhode Islandand delineated on that plan entitled "Plan of Land in Providence, Rhode Island,surveyed for Providence Place, surveyed and drawn by Marrier Surveying, Inc.Scale: 1" = 40', May, 1990, revised May 1995":
Beginning at the northwesterly corner of the herein describedparcel that corner being sixty-three and 90/100 (63.90) feet westerly, on theextension of the southerly line of Hayes Street, from the intersection of thesoutherly line of Hayes Street with the easterly line of Park Street;
Thence S 85-20'-00" E, Crossing Park Street, a distance ofsixty-three and 90/100 (63.90) feet to the intersection of the southerly lineof Hayes Street with the easterly line of Park Street;
Thence S 85-20'-00" E, a distance of four hundred fifty-eightand 71/100 (458.71) feet to a corner bounding northerly on Hayes Street;
Thence S 61-24'-44" E, a distance of ninety-five and 52/100(95.52) feet to a corner bounding northeasterly on Francis Street;
Thence S 05-41'-29" W, a distance of one hundred five and75/100 (105.75) feet to a point of curvature;
Thence southerly bearing southeasterly along the arc of acurve having a radius of five hundred eight and 00/100 (508.00) feet, adistance along that arc of forty-one and 86/100 (41.86) feet to a point oftangency;
Thence S 00-58'-12" W, a distance of one hundred fifty-threeand 25/100 (153.25) feet to a point of curvature;
Thence southerly bearing southwesterly along the arc of acurve having a radius of four hundred ninety and 00/100 (490.00) feet, adistance along that arc of forty and 38/100 (40.38) feet to a point of tangency;
Thence S 05-41'-29" W, a distance of four hundred ninety-oneand 28/100 (491.28) feet to a point of curvature;
Thence southerly bearing southeasterly along the arc of acurve having a radius of seven hundred fifty-five and 00/100 (755.00) feet, adistance along that arc of two hundred sixty-one and 37/100 (261.37) feet to apoint of reverse curve, the last six (6) courses bounding easterly by FrancisStreet;
Thence southwesterly bearing westerly along the arc of acurve having a radius of thirty six and 00/100 (36.00) feet, a distance alongthat arc of fifty-six and 50/100 (56.50) feet to a point of compound curve;
Thence southwesterly bearing westerly along the arc of acurve having a radius of four hundred seventy-one and 00/100 (471.00) feet, adistance of two hundred seventy and 25/100 (270.25) feet to a point of compoundcurve;
Thence westerly bearing northwesterly along the arc of acurve having a radius of four hundred seventy-one and 00/100 (471.00) feet, adistance along that arc of two hundred seventy-one and 35/100 (271.35) feet toa point of tangency;
Thence N 38-20'-23" W, a distance of twelve and 18/100(12.18) feet to a point of curvature;
Thence northwesterly bearing northerly along the arc of acurve having a radius of four hundred seventy-one and 00/100 (471.00) feet, adistance along that arc of sixty-seven and 11/100 (67.11) feet to a point ofcurvature;
Thence northerly bearing northeasterly along the arc of acurve having a radius of five hundred seventy-two and 00/100 (572.00) feet, adistance along that arc of three hundred fifty-seven and 65/100 (357.65) feetto a point of tangency;
Thence N 05-38'-56" E, a distance of three hundred fifty-twoand 66/100 (352.66) feet to an angle;
Thence N 07-31'-50" E, a distance of two hundred ninety-nineand 10/100 (299.10) feet to the point and place of beginning.
(6)(ii) The above described parcel contains an area of sevenhundred thousand two hundred fifty-nine (700,259) square feet more or less.
(7) "Providence Place Garage" means the parking facilitycurrently planned to include a minimum of four thousand (4,000) parking spacesto be built on the Project site in connection with the Providence Place Mall.
(8) "Providence Place Mall" or the "Mall" means the regionalretail shopping facility containing no less than one million one hundred fiftythousand (1,150,000) square feet to be built and developed in Providence.
(9) "Providence Place Project" or the "Project" means thefacilities comprising the Providence Place Mall and the Providence Place Garage.
(10) "Public Investment and HOV agreement" means theagreement between the EDC and the developer providing for the investment by thedeveloper in the Project and the commitment by the EDC for the investment of aportion of the sales tax revenue from the Providence Place Mall in the Projectand the agreement of the developer to lease to the EDC for a term ending uponthe expiration of the Ground Lease, five hundred (500) parking spaces in theProvidence Place Garage which are intended to be used for high occupancyvehicles ("HOV's") in connection with compliance by the State with the CleanAir Act Amendment of 1990.
(11) "State" means the State of Rhode Island and ProvidencePlantations.