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Section 3. I NO CoDtractual Rights. The guidelines contained in Section 2 are intended to <br />be a broad slat '~e~ent of the EDA's policy on such matters. They do not create any contractual <br />rights or obl~gati0ns on the part of developers or the EDA. They do not guarantee that the EDA <br />will support anY'tliarticuiar request nor do they limit the EDA's fight to participate in a development <br />which is t_e~h'nid?lly beyond the scope of the guidelines. The guidelines may be modified <br />unilaterally by the~ EDA at any time. <br /> [ <br />Section 4. i, ~ocess. The following process shall be utilized by the EDA in processing <br />requests for 4ev¢lbpment assistance: <br /> <br /> A. Cily Staff reviews the request with respect to the following 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 />type and amount of request <br />timetable for project <br />financial feasibility <br />legal feasibility <br />overall benefit to City <br /> <br />If/he request is financially and legally feasible, it will be forwarded to the Planning <br />an~ Zoning Commission and Economic Development Commission for their review <br />and recommendations. <br /> <br /> : J <br />Tlie Planning and Zoning Commission reviews the request with respect to the <br />fol,~owing 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 opportunities 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 />The EDA will receive the comments and recommendations of Staff, the Planning <br />an~l 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 />