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SECTION FIVE. The Plan for the Area is feasible and conforms to the general plan for the City. SECTION SIX. The financial aid provided and to be provided for financial assistance pertaining to the Area is necessary to enable the redevelopment activities to be undertaken in accordance with the Plan for the Area, and the proposed financing plan for the Area is feasible. SECTION SEVEN. The Plan for the Area will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the redevelopment of the Area by private enterprise, and private developments to be sought pursuant to the requirements of the Statute. I SECTION EIGHT. The Plan for the Area provides that the LCRA may acquire property within the Area. SECTION NINE. The property within the Area is currently occupied. All eligible occupants displaced by the party or parties selected by the LCRA to implement the Plan (the "Redeveloper") shall be given relocation assistance by the Redeveloper at its expense, in accordance with the Plan and all applicable federal, state and local laws, ordinances, regulations, and policies. k 6 SECTION TEN. The Plan for the Area gives due consideration to the provision of adequate public facilities. SECTION ELEVEN. In order to implement and facilitate the effectuation of the Plan hereby approved it is found and determined that certain official actions must be taken by this City Council and accordingly this City Council hereby: (a) Pledges its cooperation in helping to carry out the Plan; (b) Requests the various officials, departments, boards and agencies of the City, which have administrative responsibilities, likewise to cooperate to such end and to execute their respective functions and powers in a manner consistent with the Plan; and (c) Stands ready to consider and take appropriate action upon proposals and measures designed to effectuate the Plan. { SECTION TWELVE. The Redeveloper shall be eligible to receive eight (8) years of tax y abatement pursuant to Sections 99.700 to 99.715 of the Statute, upon application as provided therein. This tax relief provision shall run with the land and inure to all successors and assigns of the Redeveloper so long as such successors or assigns shall continue to use such property i in the Area in accordance with the Plan. Notwithstanding the foregoing, Redeveloper must agree to effectively waive a portion of the eight (8) year tax abatement by making payments in lieu of taxes upon such terms and conditions as the LCRA and the Redeveloper shall agree upon. SECTION THIRTEEN. Any proposed modification which will substantially change the i Plan must be approved by the City Council in the same manner as the Plan was first approved. Modifications which will substantially change the Plan include, but are not necessarily limited to , modifications on the use of eminent domain, the length of tax abatement, the boundaries of the h Area, or to other items which alter the nature or intent of the Plan. The Plan may be otherwise April 7, 2008 J-1 to 6-18