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NS-1795
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Last modified
1/3/2012 1:03:56 PM
Creation date
6/26/2003 10:08:07 AM
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Template:
City Clerk
Doc Type
Ordinance
Doc #
NS-1795
Date
9/17/1985
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D. The development and use which SFLI proposes in ~ <br />connection with the real property have been extensively reviewed <br />and considered by the City and its officers, agencies and dJ- <br />partments and such proposed development and use have been modi- <br />fied to accommodate the City's recommendations and suggestions <br />in order to protect the public's interest and to enhance the <br />desirability, from the public's perspective, of such proposed <br />development and use. <br /> <br /> E. The development and use which SFLI proposes in <br />connection with the real property will provide substantial public <br />benefits and help the City attain certain public objections, <br />in~luding development of a major business center within the <br />City which will provide a lonG-term source of employment oppor- <br />tunitips and revitalization of the economic base of the com- <br />munity. Furthermore, SFLI's proposed development and use will <br />provide the City with additional revenue which will enhance the <br />City's ability to implement its general plan. <br /> <br /> F. SFLI will be required to make substantial com- <br />mitments and will be confronted with and incur substantial risks <br />and uncertainties in developing the real property. Those risks <br />and uncertainties include, without limitation, (1). expenditures <br />for construction of the Public Improvements (defined in Paragraph <br />9) well in advance of the cpmpletion of the private income- <br />producing components of the developmeht; (2) expenditures for <br />necessary predevelopment planning, engineering and design work; <br />and (3).potential for loss of total net anticipated revenues to <br /> <br /> <br />
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