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5. The project meets all criteria outlined in the Town Center Development <br />Guidelines and Standards. <br />6. The public assistance fits within the city's overall financial plan. <br />7. No funding from other sources is available. <br />With the authorization to proceed with a Redevelopment Project and adoption of <br />a Redevelopment Plan, the EDA is declaring that it wishes to ensure sustainable <br />development within the Town Center. Preliminary negotiation points that would <br />be addressed on specific projects included: <br />• Control over land uses, such as a non -compete clause <br />• Enhanced architectural and design control <br />• Pay-as-you-go assistance whereby the obligation would be limited to the <br />taxes actually paid <br />• No assistance until a predetermined threshold of development is achieved <br />within a specific time frame <br />The establishment of a Redevelopment Project Area will buy time for the city so <br />that a budget, timetable and criteria can be worked out for the best interests of <br />the city. The city council will hold a public hearing on the Plan in November. As <br />is always the case, the EDA will review and approve the terms of the <br />Redevelopment Project Plan and any incentive proposal brought forward within <br />the project area. <br />OPTIONS: <br />1. Authorize the preparation of a Redevelopment Project Plan and direct staff to <br />proceed with the development of a timetable, budget and criteria for the project <br />area. <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1. <br />