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Section 3. ]~0 Cotalractua! Ri~hls. The guidelines contained in Section 2 are intended to <br />be a broatf s~t~nent of the EDA's policy on such matters. They do not create any contractual <br />rights or Obll~gata0ns on the part of developers or the EDA. They do not guarantee that the EDA <br />will support ;inyil~articular request nor do they limit the EDA s right to participate in a development <br />which is tec.hn~a_lly beyond the scope of the guidelines. The guidelines may be modified <br />unilaterally I~ t ~ EDA at any time. <br />Section 4. v ~tg. ge~t~ The following process shall be utilized by the EDA in processing <br />requests for de assistance: <br /> <br /> A. ', Ciiy 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~e 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 />i: The 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 /> Thc 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 />Th6 EDA will receive the comments and recommendations of Staff, the Planning <br />:and', Zoning Commission and the Economic Development Commission. In <br />· add!tion, 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 />