Assumptions Underlying the Development Plan Sample Clauses

Assumptions Underlying the Development Plan. The parties acknowledge that the goal of this Development Plan is to achieve a balance between the public policy objectives of the Project (as set forth in the Reuse Plan, the RFQ, the RFP, the ENA, the TIHDI Agreement and this Development Plan) and TICD's need for a reasonable market return on its investment. After execution of this Development Plan and during the remaining term of the ENA, the parties will negotiate in good faith to complete final Transaction Documents and a final development program that provide a level of public benefits substantially consistent with the Development Plan and achieve TICD's reasonable market return. Without limiting the foregoing, TICD has made key assumptions as to the financial feasibility of the Project based upon the level of public benefits and private development rights described herein. If, prior to entering into the DDA, circumstances arise as to change the key assumptions hereunder, there may be a material adverse effect on TICD's ability to achieve its reasonable market return and the Project’s ability to finance the level of public benefits described in this Development Plan. If, prior to entering into the DDA, any of the key assumptions prove to be materially different such that the costs of development would be materially increased, the rights of TICD or the other developers to develop the Property would be materially decreased, or the land value for vertical sales would be materially decreased, then the parties will negotiate in good faith for the remaining term of the ENA to reach a fair and balanced agreement that provides TICD with its reasonable market rate return and the City and the Authority with an appropriate public benefits package that achieves the public policy objectives for the Project.