Laserfiche WebLink
FINAL APPROVED 1.25.16 <br /> (iii) Submit a time schedule for the Development. <br /> (iv) Undertake and obtain such other preliminary economic feasibility <br /> studies, income and expense projections, and such other economic information as <br /> Developer may desire to further confirm the economic feasibility and soundness of the <br /> Development. <br /> (v) Submit to EDA the Developer's financing plan showing that the <br /> proposed Development is financially feasible. <br /> (vi) Furnish satisfactory, financial data to EDA evidencing Developer's <br /> ability to undertake the Development. <br /> (vii) Furnish information in its possession and assist the EDA with <br /> obtaining all available business subsidy assistance. <br /> (b) Developer understands that the Tax Increment Financing sought for the <br /> proposed Development must be obtained as outlined by law. The EDA agrees in any <br /> development agreement or contract entered into as contemplated herein that the EDA will <br /> review and consider such fmancing as allowed by law, but no provision shall be <br /> construed as an affirmative approval of such financing until such time that a separate Tax <br /> Increment Financing agreement is entered into by both parties. <br /> 5. Feasibility. <br /> It is expressly understood that execution and implementation of any development <br /> agreement or contract (together with any other agreements entered into between the parties <br /> hereto contemporaneously therewith) and any land use, zoning and subdivision approvals shall <br /> be subject to: <br /> (a) A determination by EDA in its sole discretion that its undertakings are <br /> feasible based on (i) satisfaction of City Code requirements; (ii) the purposes and <br /> objectives of any development plan created or proposed for the Development; (iii) the <br /> Studies,if any; and(iv)the best interests of EDA. <br /> (b) A determination by Developer that the Development is feasible and in the <br /> best interests of Developer. <br /> 6. Effective Date; Expiration. <br /> This Agreement is effective from the date hereof through December 31, 2016. After such <br /> date, neither party shall have any obligation hereunder except as expressly set forth to the <br /> contrary herein. <br /> 7. Costs; Escrow. <br /> Developer shall be solely responsible for all costs incurred by Developer. In addition, <br /> upon the full execution of this Agreement the Developer will pay the EDA the sum of$10,000 as <br /> 4 <br /> 469964v9 SJR MU205-46 <br />