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Article VI: Acquisition and Development of Phase 1 <br />Development Property <br />•Min. Strike Price -$22.5M <br />•Not less than 3 months prior to closing, preliminary plats <br />and plans must be submitted to JDA. <br />•Closing occurs after final plats approved by JDA <br />•Standards that apply to all Phase 1 development <br />•Project completion by 12/31/24 or 54 mos. after construction ready <br />date <br />•Energy resiliency performance standards <br />•Job creation performance standards (if applicable) <br />•Affordable Housing performance standards (if applicable) <br />10