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WHEREAS, the City has enacted, or will enact as and if <br />necessary suitable legislation (the "Enabling Legislation") <br />adopting a comprehensive commercial-retail redevelopment plan <br />for the Plan Area (which plan, as the same may be amended from <br />time to time, is sometimes hereinafter referred to as the <br />"Lakewood city Center Plan" or the "Plan"); and <br /> <br /> WHEREAS, the City by the Enabling Legislation and the Plan <br />has provided or will provide, inter alia, (i) for the <br />acquisition, demolition and clearance of existing properties <br />within the Plan Area, (ii) for the vacation of certain public <br />roadways and the relocation and/or fortification of various <br />trunk utility lines presently located within the right-of-way <br />thereof, (iii) for the use of appropriate methods of financing, <br />state and/or federal grants, if any, and/or other suitable <br />financing assistance for the public improvements within the <br />Plan Area, and (iv) for the redevelopment of the Plan Area <br />through public improvements by the City and private <br />improvements by the RedeVeloper, in accordance with the <br />requirements of the Plan; and <br /> <br /> WHEREAS, pursuant to such Enabling Legislation and the <br /> Plan, the Redeveloper Will.acquire, own, develop, lease, manage <br /> and/or operate certain properties contained within the Plan <br /> Area, other than those properties that are to be used for <br /> public improvements and public services and other public <br /> purposes and are to be Owned bY the City (which properties <br /> <br /> (both public and private), as more particularly identified in <br /> <br />- 2 - <br /> <br /> <br />