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• Development District . A small amount of additional property, <br /> along with necessary permanent and temporary easements, will be <br /> acquired in the Development District for proposed water and <br /> sanitary sewer improvements . The specific property to be <br /> acquired has not yet been identified. <br /> All of the property within the TIF District ( identified <br /> in Section C.2 above) will be acquired by the City and conveyed <br /> to Alltool Company. Alltool Company has entered into an <br /> Assessment Agreement for development of the property acquired <br /> which provides recourse for the City if the Alltool development <br /> is not completed. <br /> 4 . Development to Occur Within the TIF District <br /> Development within the TIF District will include the <br /> • correction of soil conditions and construction of the eighty- <br /> five thousand ( 85, 000) square foot Alltool manufacturing <br /> facility and related out-buildings and other improvements . <br /> 5 . Jobs to be Created <br /> A primary objective of the Development Program and of <br /> this TIF Plan is the creation of additional jobs in the City. <br /> Development of the new Alltool facility will create <br /> approximately fifty ( 50) temporary construction jobs and up to <br /> fifty ( 50 ) permanent jobs in the new facility. <br /> 6 . Future TIF Districts <br /> It is the City' s intent to create a number of tax <br /> increment districts within the Development District as private <br /> development occurs, in order to use the tax increment generated <br /> • by such development to finance or otherwise pay the cost of <br /> 6 . <br />