Common use of Stated Purpose Clause in Contracts

Stated Purpose. The Stated Purpose of this Modified Agreement is to set forth the financial commitment of Licensee to provide Economic Development Payments for use by a Recipient to support and assist economic development in the City through initiatives that: 2.2.1. Modernize, revitalize, renovate and redevelop existing industrial and commercial facilities, districts and enterprises; 2.2.2. Provide incentives to retain and expand existing businesses and industries; 2.2.3. Provide incentives to attract new business and industry; 2.2.4. Invest in infrastructure improvements and enhance transportation; 2.2.5. Provide incentives to establish and improve the housing stock; 2.2.6. Create funding mechanisms for use by commercial, industrial enterprises, and tax-exempt non-profit organizations in financing quality development and improvements; 2.2.7. Improve, enhance and promote the City’s port facilities and related transportation and warehousing businesses; 2.2.8. Provide quality work force training; 2.2.9. Enhance public safety; 2.2.10. Revitalize and develop the City’s lake front; 2.2.11. Stimulate job creation, development and modernization; 2.2.12. Administer education, training and scholarship programs in the City for residents of the City; and 2.2.13. Provide incentives to encourage the citizens, businesses and industries of the City and the general public to offer new goals and projects consistent with the Stated Purpose of this Modified Agreement.