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foot office\warehouse\trucking facility, which proposal involves the Authority's use of tax <br /> • increment pursuant to this Agreement to reimburse the Redeveloper for certain costs of preparing <br /> 1.411) <br /> the Development Property for development; and <br /> WHEREAS, the Authority believes that the development of the Project Area pursuant to <br /> the Redeveloper's proposal and the fulfillment generally of this Agreement, are in the vital and <br /> best interests of the City and the health, safety, morals, and welfare of its residents, and in accord <br /> with the public purposes and provisions of the applicable State and local laws and requirements <br /> under which the Project has been undertaken and is being assisted, and is, therefor, willing to <br /> provide the financial assistance outlined herein. <br /> NOW, THEREFORE, in consideration of the premises and the mutual obligations of the <br /> parties hereto, each of them does hereby covenant and agree with the other as follows: <br /> 2 <br />