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<br /> <br /> Section 2. Outline of Negotiations. Negotiations between the parties shall proceed in <br />an attempt to formulate a definitive Contract based on the following: <br /> <br /> (a) the Developer’s proposal (when submitted) together with any changes or <br />modifications required by the City or the Authority; <br /> <br /> (b) such documentation regarding economic feasibility of the Redevelopment as the <br />City or the Authority may wish to undertake during the term of this Agreement; <br />and <br /> <br /> (c) other terms and conditions of this Agreement. <br /> <br />The parties agree and understand that negotiations regarding the Contract will proceed as soon as <br />reasonably practicable after the date of this Agreement, as sufficient details for the Redevelopment <br />become available. <br /> <br /> Section 3. Developer’s Obligations. On February 3, 2020, the Developer must <br />submit a proposal to the City and the Authority, which proposal must provide the following <br />information: <br /> <br />(a) Information about the Developer, including information that shows that the <br />Developer is capable of handling a project of the scope and size of the <br />Redevelopment. This information shall include information regarding the <br />Developer’s experience with similar types of large projects and references for the <br />Developer who can be contacted. <br /> <br />(b) Detailed site plans that show the proposed locations and sizes of all buildings and <br />improvements. <br /> <br />(c) Detailed renderings of the buildings that show the sample floor layouts, <br />elevations, and other graphic or written explanations of the Redevelopment. <br /> <br />(d) Detailed information about how all existing parking on the Property will be <br />accommodated by the Developer both during and after construction along with <br />information on any additional parking that will be needed by the Developer for <br />the Redevelopment and how this additional parking will be accommodated, <br />including whether or not the proposed additional parking will be private or <br />available to the public. <br /> <br />(e) A detailed concept of how traffic will flow within and around the Property that <br />will be improved with the Redevelopment. <br /> <br />(f) Detailed information on how adjacent businesses will be able to receive deliveries <br />and shipments during the Developer’s construction of the Redevelopment, in <br />particular the businesses located along Jackson Street. <br />614738v3EL185-54 <br />-2- <br />