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financing in this amount is economically vica..a within the <br />present standards permitted by law and is consistent with <br />tax increment financing presently available through other <br />communities in the immediate area. The tax increment <br />financing which the Developer is requesting is necessary for <br />land acquisition and site preparation. The Developer would <br />suggest that a sale/buy back approach be utilized in <br />connection with the tax increment financing, and would be in <br />a position to provide the City with proposed forms of <br />agreement for use in connection therewith. <br />CONCIfJ&ION <br />The foregoing constitutes a very brief summary of the basic <br />elements of the Developers proposal for development of the <br />noted property. We shall look forward to discussing these <br />matters with the City and its representatives in greater <br />detail. <br />