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<br />TCAAP Interim Agreement #2 <br />March 17, 2005 <br />Page 2 of2 <br /> <br />an early 2006 closing) that will extend beyond the start of this process, an agreement <br />provision will have to address the question of what happens ifthe City, at some point, <br />simply elects to quit the process. In other words, if the project is economically <br />feasible (especially in light of Public Financing Policy) and the developer proceeds in <br />good faith, who will pay for the AUAR work? <br /> <br />There may be other financial considerations but these two will help staff to gain an <br />understanding of where and what the Council wants to do with a new agreement. <br /> <br />As stated before, a new agreement is the next step after the Framework Vision and Public <br />Finance Policy. It is hoped that we would be able to get to an agreement agreed to by early April <br />so new escrow funds can be secured and the process can continue. <br /> <br />\\Earth\Planning\Misc Files\TCAAP\Agreement 2\lnterim Agreenment March 21, 2005.doc <br /> <br />" <br /> <br />. <br /> <br />. <br /> <br />e <br />