All other businesses, employers or persons of any kind carrying
on any economic activity in Hoboken financed entirely with private
funds and located on land not owned by or leased from the city shall
be encouraged to enter into voluntary first source agreements with
the city, whereby the person will demonstrate a good faith commitment
to the well-being of the city and its residents and citizens by agreeing
to accept recruitment, referral and placement services from the city.
The first source agreement shall include provisions for liquidated
damages or predetermined penalties in the event of breach of any first
source agreement. It shall be the policy of the city to require clauses
for liquidated damages or predetermined penalties in all mandatory
agreements and to seek such clauses in voluntary agreements.