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Each application for inclusion in the EAP submitted to the city shall <br />be considered solely on its own merits. Approval of an application shall <br />require that an agreement be executed by the applicant and the city, which <br />agreement shall, at a minimum, contain: <br />A. The maximum amount of enhanced assistance to be shared, <br />the timing of payment of any enhanced assistance, and the maximum time <br />during which the agreement shall continue, it being expressly understood <br />that any such agreement shall expire and be of no further force and effect <br />upon the occurrence of the earlier to be reached of the maximum time of <br />the agreement (whether or not the maximum amount to be shared has been <br />reached) or the maximum amount to be shared (whether or not the <br />maximum time set forth has expired); <br />B. A statement that the agreement is a personal agreement <br />which does not run with the land; <br />C. A statement that the agreement shall never constitute a multi- <br />year fiscal obligation, debt or other obligation of the city within the meaning <br />of any constitutional or statutory provision; <br />D. For aerospace businesses utilizing fee assistance pursuant to <br />chapter 3.24, all such statements required under chapter 3.24 for BAP <br />agreements utilizing fee assistance; <br />E. A provision that, in the event the applicant, and/or its <br />successors and assigns, ceases business operations in the city within ten <br />(10) years after the certificate of occupancy has been received for the <br />business location, the applicant, or its permitted successors and assigns, <br />shall pay to the city ten percent (10%) of the enhanced assistance rebated <br />by the city under the EAP agreement for each full year that the applicant, <br />and/or its successors and assigns, cease operations at the business <br />location. <br />F. A provision that any enhanced assistance subject to sharing <br />shall be escrowed in the event there is a legal challenge to the EAP or the <br />approval of any application therefor; <br />G. An affirmative statement that the obligations, benefits and <br />provisions of the agreement may not be assigned in whole or in any part <br />without the expressed written authorization of the city council, and further <br />that no third party shall be entitled to rely upon or enforce any provision of <br />the agreement; <br />Ordinance No. 1857, Series 2023 <br />Page 9 of 11 <br />