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<br /> I <br /> I. Development Agreement - Phases II, III, and IV of GBD <br /> . Between City of Arden Hills and Welsh Development Company, LLC <br /> 1. Size of Buildings <br /> I a. Phase II - 104,532 sq. ft. <br /> b. Phase III - 115,575 sq. ft. <br /> c. Phase IV - 111,779 sq. ft. <br /> I 2. Commencement of buildings <br /> a. Phase II - October I, 1997 <br /> I b. Phase III - December 31, 1997 <br /> c. Phase IV - April I, 1998 <br /> . 3. Occupancy of buildings <br /> a. Phase II - April I, 1998 <br /> I b. Phase III - July I, 1998 <br /> c. Phase IV - October 1, 1998 <br /> I 4. Minimum market value of project, per Welsh's pro-forma <br /> .' 5. Phase I Public Improvements - Construction of new 14th Street and associated <br /> improvements (ie., sewer relocation). Use ofTIF revenues. Starting in 1997 completing <br /> in 1998. <br /> I 6. Phase II Public Improvements - Reconstruction of Round Lake Road (South of <br /> Indykiewicz and North of Phase II building). Assessment, except for Phase I (subject to <br /> . Phase I TIF revenues covering assessment). Starting and completing in 1998. <br /> 7. Phase III Public Improvements - Reconstruction of Round Lake Road and Highway 96 <br /> I intersection. Use ofTIF revenues. Starting in 1998 and completing in 1999. <br /> . <br /> I <br /> I <br /> I <br /> I- <br /> I <br /> ---..-.-.---- <br />