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I <br />I <br />I <br />I <br />i <br />i <br />! <br />I <br /> <br />MUNICIPAL P~R~ICIPATION <br /> <br /> The City will be requested to sell G.O. Bonds to provide the <br />necessary fin~nciing for the Development of the Project. The Developer <br />in turn will provide the required security as agreed upon and outlined <br /> <br />by the City. <br /> <br />IMPLEMENTATZO~ <br /> <br />Impl~me~ntation of the Planned Unit Development takes place with <br /> <br />the approval of a Preliminary Plan, which would be, in essence, concept <br />approval of ithe written portion of the plan. In addition, concept approval <br />of the schema~i~ drawing is entailed in the preliminary stage. <br /> <br /> The ~la~ning Commission is to make reco~.tLendations to the City <br />Council regardin!g the Preliminary Plan. The Planning Commission is to <br />hold a Public~ He~ring and recommend approval or rejection of the Plan <br />and the Re-Zo~ing under PUD. <br /> <br /> Upon approval of the Preliminary Development Plan, the Planned <br />Unit Develol~n~ would be deemed to be a Zoning Change, and the Zoning <br />Map of the City Would be ammended accordingly, classifying the area <br /> <br />within the BoUndary of the Planned Unit Development as "Planned Unit <br />Development". R~[ ference would then be made to the Final Plan and Drawings <br />to the specific ~sages within the Planned Unit Development. <br /> <br />-4- <br /> <br /> <br />