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approval to City by Developer no later than January 6, 1995. The <br />relocation plan shall be submitted in a form acceptable to City <br />no later than February 17, 1995. <br />8. Evidence of Lender's Interest in Providing Permanent <br />Project Financing. As good faith evidence of Developer's ability <br />to carry out the activities proposed by the development, <br />Developer shall submit to City a letter from a lending <br />institution with the financial capacity to provide a permanent <br />mortgage to finance the development as proposed. Said letter <br />shall indicate that the lender has reviewed the Developer and <br />investors in the project and finds that their credit worthiness <br />warrants interest in the project on the part of the lender. The <br />letter shall also indicate the lender's familiarity with the <br />project by indicating the preliminary loan estimate, financing <br />term, the level of owner's equity to be included, and the <br />estimated amount of City assistance anticipated to be provided. <br />The letter should also include any other information that either <br />Developer or lender feel is critical in aiding City in <br />determining the strength of the project. Letter shall be <br />submitted to the City no later than February 17, 1994. City <br />shall be authorized in writing to contact and correspond with <br />lender under the auspices of the Developer to verify financial <br />feasibility of the proposed development. <br />9. Fiscal Disparities Election. Developer acknowledges <br />that City intends to determine what the tax increments available <br />for use within the Development District shall be, after allowing <br />Page 47 <br />