Future Phases. The Sub-Area Plan and Exhibit B set forth a plan for the later phases of the development of the Waterfront District. It is anticipated that (1) Phase 4 and Phase 5 will not begin for a significant period of time, (2) the development of the Facilities may require, as yet, unidentified funding sources, (3) additional investments in, as yet, unidentified, Facilities by both parties, may be needed in the future to support continued redevelopment of the Waterfront District, (4) Phases 4 and/or 5 will require an amendment of this Agreement, and (5) the City and the Port may likely agree to changes in the Sub-Area Plan that reflect the development to that date and the marketplace conditions. Therefore, the description of the actions in Phase 4 and Phase 5 are predicated on a future agreement between the Port and the City, potential addendum to the EIS, and identification of funding sources, including state and federal funding sources.
Appears in 3 contracts
Sources: Interlocal Agreement, Interlocal Agreement, Interlocal Agreement