Laserfiche WebLink
(e) A preliminary financial analysis demonstrating the costs and benefits to <br />the City regarding all constriction, maintenance and operations of all proposed public <br />improvements, the costs of additional or increased levels of public services and any new public <br />revenues anticipated to be generated by the Project. <br />4. Negotiation of DDA. During the Negotiation Period, the Parties shall negotiate <br />diligently and in good faith to negotiate a DDA among them. The Parties shall generally <br />cooperate with each other and supply such documents and information as may be reasonably <br />requested by the other to facilitate the conduct of the negotiations. The Parties shall exercise <br />reasonable efforts to complete discussions relating to the terms and conditions of a DDA and <br />such other matters, as may be mutually acceptable to the Parties, in their respective sole <br />discretion. The exact terms and conditions of a DDA, if any, shall be determined during the <br />course of these negotiations. Nothing in this Agreement shall be interpreted or construed to be <br />a representation or agreement by either the City or the Developer that a mutually acceptable <br />DDA will be produced from negotiations under this Agreement. Nothing in this Agreement shall <br />impose any obligation on either Party to agree to a definitive DDA in the future. Nothing in this <br />Agreement shall be interpreted or construed to be a guaranty, warranty or representation that any <br />proposed DDA that may be negotiated by City staff and the Developer will be approved by the <br />governing bodies of the City. The Developer acknowledges and agrees that the City's <br />considerations of any DDA is subject to the sole and absolute discretion of their City Council <br />and all legally required public hearings, public meetings, notices, factual findings and other <br />determinations required by law. <br />5. Restrictions Against Change in Ownership, Management and Control of <br />Developer and Assignment of Agreement. <br />(a) The qualifications and identity of the Developer and its principals are of <br />particular concern to the City. It is because of these qualifications and identity that the City has <br />entered into this Agreement with the Developer. During the Negotiation Period, no voluntary or <br />involuntary successor -in- interest of the Developer shall acquire any rights or powers under this <br />Agreement, except as provided in Section 5(c). <br />(b) The Developer shall promptly notify the City in writing of any and all <br />changes whatsoever in the identity of the business entities or individuals either comprising or in <br />Control (as defined in Section 5(d)) of the Developer, as well as any and all changes in the <br />interest or the degree of Control of the Developer by any such person, of which information the <br />Developer or any of its shareholders, partners, members, directors, managers or officers are <br />notified or may otherwise have knowledge or information. Upon the occurrence of any <br />significant or material change, whether voluntary or involuntary, in ownership, management or <br />Control of the Developer (other than such changes occasioned by the death or incapacity of any <br />individual) that has not been approved by the City, prior to the time of such change, the City may <br />terminate this Agreement, without liability to the Developer or any other person, by sending <br />written notice of termination to the other Parties, referencing this Section 5(b). <br />(c) Notwithstanding anything in this Agreement to the contrary, Developer <br />may assign its rights under this Agreement to an Affiliate (as defined in Section 5(d)), on the <br />condition that such Affiliate expressly assumes all of the obligations of the Developer under this <br />25J -7 <br />