Common use of PHASE 2 IMPROVEMENTS/FINAL MAP/PHASE Clause in Contracts

PHASE 2 IMPROVEMENTS/FINAL MAP/PHASE. 2 BUSINESS PLAN 5.1 Phase 2 Business Plan. At least six (6) months prior to the date provided for in the Phase 1 Schedule for Final Approval of the Entitlements, Developer shall submit to the Project Lead for review and comment a Phase 2 Business Plan that, at a minimum, describes a strategy for financing and constructing the Phase 2 Improvements, financing and constructing the portion of the Project located on the Leasable Master Ground Lease Area and securing tenants and other users for the Project, identifies a phasing plan and schedule for when each specific parcel within the Leasable Master Ground Lease Area will be conveyed via a Ground Lease, and maximizes the return on the County’s investment in the Project (“Phase 2 Business Plan”). Prior to the end of Phase 1, the Project Lead and Developer shall present the Phase 2 Business Plan to the Board for consideration. Board approval of the Phase 2 Business Plan, in its sole and absolute discretion, is required prior to Final Approval of Phase 1.