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Section 3. N6iContractua! Rights. The guidelines contained in Section 2 are intended to <br />be a broad st~temimt of the EDA's policy on such matters. They do not create any contractual <br />rights or oblil~atiohs on the part of developers or the EDA. They do not guarantee that the EDA <br />will support a0Y PS'titular request nor do they limit the EDA's right to participate in a development <br />which is tecl{.'fii~lly beyond the scope of the guidelines. The guidelines may be modified <br />unilaterally b~:the EDA at any time. <br /> I: <br />Section 4. i, Pr0eess. The following process shall be utilized by the EDA in processing <br />requests for development assistance: <br /> A. I City 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 the request is financially and legally feasible, it will be forwarded to the Planning <br />!and ZOning Commission and Economic Development Commission for their review <br />~nd recommendations. <br /> <br />TheiPlanning and Zoning Commission reviews the request with respect to the <br />foll~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 />r 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 />~dnd Zoning Commission and the Economic Development Commission. In <br /> dition, 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 />