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Draft 03/05/99 <br /> <br />All administrative, engineering and legal costs incurred by the City in <br />the course of participating in a project shall be included in the amount <br />of total assistance available to the project. <br /> <br />Section 3. No Contractual Riehts. The guidelines contained in Section 2 are <br />intended to be a broad statement of the EDA's policy on such matters. They do not <br />create any contractual rights or obligations on the part of developers or the EDA. <br />They do not guarantee that the EDA will support any particular request nor do they <br />limit the EDA's right to participate in a development which is technically beyond the <br />scope of the guidelines. The guidelines may be modified unilaterally by the EDA at <br />any time. <br /> <br />Section 4. Process. The following process shall be utilized by the EDA in <br />processing requests for development assistance: <br /> <br />A. City Staff reviews the request with respect to the following <br /> information: <br /> <br />Public Infrastructure <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 request <br />- timetable for project <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 />- amount of request <br />- type ofrequest <br />- timetable for project <br />- financial feasibility <br />- legal feasibility <br />- overall benefit to City <br /> <br />If the request is fmancially and legally feasible, it will be forwarded to <br />the Planning and Zoning Commission and EDA for their review and <br />recommendations. <br /> <br />The Planning and Zoning Commission reviews the request with respect <br />to the following issues: <br /> <br />- consistency with the City's Comprehensive Plan <br />- appropriateness under the Zoning Ordinance <br /> <br />Co <br /> <br />The EDA reviews the request with respect to the following issues and <br />forwards a recommendation to the City Council: <br /> <br />- increase in employment opportunities in the City <br />- expansion or retention of existing local business <br />- development of public improvements positively impacting <br />- development areas <br /> <br />Page2 ~ <br /> <br /> <br />