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<br /> --.- <br /> . <br /> "phase II" means that portion of the Minimum Improvements which will consist of not <br /> less than 100,000 square feet of office/warehouse development. <br /> "Phase ill" means that portion of the Minimum lmprovements which will consist of not <br /> less than 100,000 square feet of office/warehouse development <br /> ''Phase N' means that portion ofthe Minimum Improvements which will consist of not <br /> less than 70,000 square feet of officetwarehouse development. <br /> -. <br /> "Plan" means, collectively, the Tax Increment Financing Plan and Development PrOgram <br /> ;\dopted by the City in connection with the creation of the Tax Increment District and Project, <br /> respectively, as modified as of the date of this Agreement, and as they may be further modified <br /> from time to time. <br /> "Prior Improvements" means the improvements previously constructed on the AmberJack <br /> Property, consisting of an approximately 155,000 square foot office/warehouse building, as <br /> approved in the City's Planning Case Number 96-12, <br /> "Project" means the City's Municipal Development District No. 1 established by the City <br /> ptll'SUant to the Development Program relating thereto, . <br /> "Project Area" means the real property located within the boundaries oflbe Project. <br /> ''Public Improvements" means the improvements to be constructed by OD or behalf of the <br /> Authority or the City pursuant to Section 3.4 of this Agrecment. <br /> "Redeveloper" means Welsh Development COJll!lany, LLC, a Minncsota limited liability <br /> company, its successors, assigns and any future owner of any fee simple interest in any Parcel of <br /> the Redeve10pmenlProperty. <br /> "Redevelopment Property" means the real property described in Schedule A of this <br /> Agreement. <br /> "State" means the State of Minnesota. <br /> "Tax Increment" means that portion of the real property taxes paid with respect to the <br /> Redevelopment Property, Minimum Improvements, AmberJack PrOperty and Prior <br /> Improvements that is remitted to the Authority as tax increment pursuant to the TaX Increment <br /> Act, <br /> "Tax Increment Act" means the Tax Increment Financing Act, Minnesota SlatutCl;, <br /> Sections 469.174-469.179, as amended. <br /> . <br /> 5 <br /> Ot"d 61>0l. l.G6 Zt9 '\J'd '3)H3a 'g ^3"l(!\J~ <br /> tt:St l.66t-6t-d3S <br />