Phasing Plan Assessments Sample Clauses

Phasing Plan Assessments. Promptly following the Effective Date and from time-to-time upon the request of City or ASLD, but in no event less frequently than annually, City and ASLD shall meet to evaluate the short-term, intermediate-term, and long-term market conditions and demand for development by potential end users within the Master Property (the “Assessments”), based upon the most current empirical evidence available to ASLD and City, including, without limitation, Arizona Department of Economic Security statistics, the zoning classifications, uses and intensities of use within the Master Property, and current economic trends. The Assessments will also consider the City’s then-current utilization of the Funding Commitment, the City’s then-current allocation of resources to the Master Property, including the City’s current and future capital improvement plans, the current entitlements of the Master Property and each Phase, the construction schedule for Backbone Infrastructure for any ongoing Phases within the Master Property, the status of development of the portions of the Master Property previously auctioned and the development impact fees and other reimbursements collected by the City from the portions of the Master Property previously auctioned, the required lead time for an end-user to commence operations on a future Phase (including lead time to construct the required Backbone Infrastructure and Auction such Phase or the Auction Parcels within such Phase), and any other matters related to the Phasing Plan. The City’s Funding Commitment is based, in part, on collection of development impact fees, hook-up fees, and other reimbursements from landowners related to Backbone Infrastructure constructed and installed by the City, to be reinvested by the City in Backbone Infrastructure subsequently constructed and installed. Based upon such Assessments, ASLD and the City will use commercially reasonable good faith efforts to jointly agree from time to time upon the Phasing Plan for all or any portion of the Master Property. The Phasing Plan will include (i) specifications for each Backbone Infrastructure Item required for each Phase subject to the current Phasing Plan and the cost allocation to each Phase of the Master Property, (ii) targets for the City to commence and complete such Backbone Infrastructure (the “Construction Targets”), (iii) the anticipated portion of the Funding Commitment by the City allocable to each Phase of the Master Property, (iv) the anticipated date of t...