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Section 3. , No Contractual Riehts. The guidelines contained in Section 2 are intended to <br />be a broad statement of the EDA's-policy on such matters. They do not create any contractual <br />fights or obligatiOns on the part of developers or the EDA. They do not guarantee that the EDA <br />will support ~y particular request nor do they limit the FDA's right to participate in a development <br />which is tecl)nically beyond the scope of the guidelines. The guidelines may be modified <br />unilaterally by the FDA at any time. <br /> <br />Section 4. ~ ~ The following process shall be utilized by the EDA in processing <br />requests for d~velopment assistance: <br /> <br />A. City Staff reviews the request with respect to the following information: <br /> <br />public Infras~c~ <br /> <br />Private Development <br /> <br />- location of development <br />- type of development <br />- total project cost <br />- size of development <br />- type and amount of ,rgquest <br /> timetable for project l <br />- financial feasibility <br />- legal feasibility <br />- overall benefit to City <br /> <br />- owners equity <br />- leveraged dollars <br />- developer proforma <br />- job creation <br />- location of development <br />- type of development <br />- total project cost <br />- size of development <br />- type and mount of request <br />- timetable for project <br />- financial feasibility <br />- legal feasibility <br />- overall benefit to City <br /> <br />If the request is financially and legally feasible, it will be forwarded to the Planning <br />and Zoning Commi.qsion and Economic Development Cornmi~sion for their review <br />and recommendations. <br /> <br />The Planning and Zoning Commission reviews the request with respect to the <br />following issues: <br /> <br />- consistency with the City's Comprehensive Plan <br />- appropriateness under the Zoning Ordinance <br /> <br />The Economic Development Commission reviews the request with respect to the <br />following issues: <br /> <br />- increase in employment oppommities in the City <br />- expansion or retention of existing local business <br />- development of public improvements positively impacting <br /> development areas <br />- increase in the tax base of the City <br /> long term benefit to City <br /> <br />Do <br /> <br />The EDA will receive the comments and recommendations of Staff, the Planning <br />and Zoning Commission and the Economic .Development Commission. In <br />addition, the EDA will review the request with respect to the following issues: <br /> <br />- benefit to the City as a whole <br />- impact on other private development in the area <br /> <br />EDA Financing <br />Page 2 of 7 <br /> <br /> <br />