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4.4 <br />D. WHEREAS, the College has been leasing space within <br />the Property for the purposes of operating a small business <br />development center to help promote and foster local economic <br />development by assisting present business owners to grow, expand <br />and strengthen their businesses and to help potential new <br />business owners evaluate, design and operate a successful new <br />business. This program provides a beneficial use for the space <br />in the Property and causes a higher level of pedestrian traffic <br />in the area, all tending to cause a reduction of and /or <br />elimination of blighting conditions in the Project Area; and <br />E. WHEREAS, the College wishes to continue to lease <br />said space from the Owner, and the Owner is willing to continue <br />to lease space to the College; and <br />F. WHEREAS, the College lacks the ability to pay for <br />certain costs related to the lease of the space within the <br />Property, all as specified in Exhibit " A " hereto, and in the <br />absence of Agency assistance will be unable to continue to lease <br />the space within the Property, all to the detriment of the <br />Project Area; and <br />G. WHEREAS, the Agency has found that the lease of <br />space within the Property by the College for the proposed <br />purpose will be of benefit to the Project Area, and in the best <br />interests of the City, the Agency and the public, in that it <br />will cause the use of the Property for purposes consistent with <br />the redevelopment goals of the Agency; and <br />H. WHEREAS, it is proposed that the Agency provide <br />assistance to the College for the benefit of the Owner with <br />respect to the lease of space within the Property and for <br />related costs (the "Project "), consisting of a grant of up to <br />Seventy Nine Thousand Seven Hundred Fifty Three Dollars and 99 <br />cents ($79,753.99)(the "Agency Assistance "), for the payment of <br />the College's unfunded costs as described in Exhibit " A " <br />attached hereto; and <br />I. WHEREAS, in view of the benefits of the Project, <br />the Agency deems it desirable to use its funds for the purposes <br />of providing the Agency Assistance. <br />NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: <br />Section 1. Defin TPrmgz Inr.o rporation of <br />Recitals. All terms not otherwise defined herein shall have the <br />2 <br />