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<br />5. Ascertaining the availability of financing for the proposed facility through <br />financial <br />and revenue analysis; <br /> <br />6. Establishing a process and timing of the negotiation of the comprehensive <br />agreement; <br />and <br /> <br />7. Any other provisions related to any aspect of the development or operation ofa <br />qualifying project that the parties may deem appropriate prior to the execution of a <br />comprehensive agreement. <br /> <br />An Interim Agreement will usually be less detailed than a Comprehensive Agreement and <br />will leave open items for further negotiations to be included in the Comprehensive Agreement. <br />An Interim Agreement may be used in situations where information is needed to further develop <br />the concept of the project and perhaps even the feasibility of going forward with the qualifying <br />project. An Interim Agreement may be appropriate in order to have the selected private entity <br />perform certain tasks, such as architectural and engineering (AlE) drawings and feasibility <br />studies, so that the City may determine how the final qualifying project might be developed or <br />even if the project should proceed before entering into a more detailed and final Comprehensive <br />Agreement. <br /> <br />An Interim Agreement may also be used to allow the private entity to start work on tasks, <br />e.g, AlE design and drawings, while the remainder of the Comprehensive Agreement is <br />completed. Therefore, an Interim Agreement should establish a process and timing for the <br />continued negotiations and completion of a Comprehensive Agreement. In addition, the Interim <br />Agreement should allow the City or private entity to terminate the Interim Agreement if <br />matters do not work out during continued negotiations, This type of clause in the Interim <br />Agreement may allow for termination of the agreement and provide for payment of an agreed- <br />upon compensation to the private entity for the scheduled work that the private entity completed <br />pursuant to the Interim Agreement and prior to its termination. <br /> <br />B, Comprehensive Agreement Terms <br /> <br />In accordance with Code of Virginia ~ 56-575.9, the scope of the comprehensive <br />agreement shall include but not be limited to: <br /> <br />1. The delivery of maintenance, performance and payment bonds or letters of credit <br />In <br />connection with any acquisition, design, construction, improvement, renovation, <br />expansion, equipping, maintenance, or operation of the qualifying project; <br /> <br />2. The review of plans and specifications for the qualifying project by the City; <br /> <br />Page 23 of 29 <br />