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Draft 03/05/99 <br /> <br />increase in the tax base of the City <br />long term benefit to City <br />benefit to the City as a whole <br />impact on other private development in the area <br />without EDA assistance, project will not occur <br />legal and financial feasibility <br /> <br />The City Council will receive the comments and recommendations of <br />Staff, the Planning and Zoning Commission and the EDA and will take <br />final action on the request. <br /> <br />If the City approves a request, all approvals of private development <br />assistance are subject to the execution of a development agreement with <br />the City. The agreement may include, but is not limited to, the <br />following: <br /> <br /> mount of the City's financial commitment; <br />- specification of the City's commitment <br />- terms of the City's participation (such as liens, deficiency <br /> agreements, etc.) <br />- insurance . <br />- financing <br />- conditions of the developer's participation; <br />- events of default <br />- terms for transfer or assignment of agreement; <br />- indemnification <br />- termination of agreement <br /> <br />Page 3 <br /> <br /> <br />