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• tax increment revenue although the construction of industrial building space is the major <br /> objective of this Contract so it is imperative that industrial space be constructed pursuant <br /> to the Contract. <br /> Finally, the remedies available to the EDA to address this default are listed on the second <br /> page of the attached letter. Peter Beck and staff will be present at the EDA meeting to <br /> discuss these options and current action required by the EDA. Redeveloper <br /> representatives may also be present, as they have received verbal notice of default. <br /> ACTION REQUESTED <br /> The EDA is asked to consider putting the Redeveloper on formal notice of the Event of <br /> Default by mailing the attached letter. <br /> • <br />