Municipal Approval

A Developer shall seek formal approval by the Municipality in accordance with of St. 2006, c. 293, § 7(b), as amended by St. 2008, c. 129, § 5. The approval by the Municipality shall: (a) explicitly approve the Economic Development Proposal, acknowledge the financial obligations the Municipality would be assuming in connection with the approval, and, if the approval is conditioned upon any changes to the Economic Development Proposal, the municipal approval shall clearly identify any such changes; (b) approve any required zoning changes to accommodate the Economic Development Proposal; (c) approve the creation of a Municipal Liquidity Reserve for each Assessment Parcel in accordance with St. 2006, c. 293, §§ 5 through 12, as amended by St. 2008, c. 129, §§ 2 through 17 and St. 2012, c. 238, §§ 60 through 63, and 801 CMR 51.00, including the funding of each reserve, or the authorization required to fund each reserve prior to the issuance of the Bonds; and (d) approve the acquisition or acceptance of any property interests in the Public Infrastructure Improvements to be conveyed to the Municipality upon completion.