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diligent efforts to secure quality retail and commercial tenants <br />for the Building's first floor spaces. Preliminary plans and <br />specifications for the renovation of the theater and for the <br />additional work to be performed by the Developer in Phase I of <br />the project have been provided to the Authority. <br /> <br /> It is the Developer's intention to cause the remaining <br />alterations and improvements to be completed within five (5) <br />years from the date of this Proposal. <br /> <br /> B. Improvements to be Demolished. <br /> <br /> This Redevelopmerit Proposal is premised upon the <br />renovation of the Building in accordance with the concept <br />described above. <br /> <br /> C. Character of New Construction. <br /> <br /> Developer has provided plans and specifications to the <br />Authority describing the scope of the renovation generally and <br />the theater renovation in particular. The project is designed to <br />harmonize with the Authority's goals and to preserve the unique, <br /> <br />historical character of the Tivoli Building. <br /> D. Parkinq. <br /> <br /> The Site presently has no parking but benefits from <br />existing parking lots located adjacent to and across the street <br />from the Building. <br /> <br /> E. Zoninq Changes. <br /> <br /> The Developer does not believe that any zoning changes <br />will be required in order to implement this Redevelopment <br />Proposal. <br /> <br />SL02 239182.8 4 <br /> <br /> <br />