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JAH:dft lr I!8/94 (022/38) <br /> <br /> c. The construction of an attractive office and retail <br /> development on the Project Site will have a positive effect <br /> on the entire Downtown area since the Project Site stands at <br /> one entrance to that area. <br /> <br /> d. The Project is expected to attract shoppers to the <br /> Downtown area and to encourage further investment in the <br /> Downtown area. <br /> <br /> e. The Project will increase employment, both during <br /> construction of the Project and thereafter. <br /> <br /> f. The Project will increase the real property <br /> <br /> tax base of the Project Area and produce greater sales and <br /> use taxes for the City. <br /> <br /> 2. This Council also finds that the consideration to be <br />received by the Agency for the acquisition and conveyance of the <br />Acquisition Parcels to the Developer, is not less than the fair <br />reuse value of the Acquisition Parcels at the use and with the <br />covenants and conditions and development costs authorized by the <br />DDA. This finding is based on the analysis and explanation <br />contained in the Report. <br /> <br /> 3. This Council hereby approves the contribution of the <br />Subsidy to the Project by the Agency together with the <br />acquisition by the Agency and the conveyance to the Developer of <br />the Acquisition Parcels, all as described and in accordance with <br />the terms and conditions of the DDA. <br /> <br /> 4. The Mayor and the City Clerk are hereby authorized to <br />execute and to attest, respectively, the DDA on behalf of the <br /> <br /> <br />