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<br />MRR-19-2002 13'37 <br /> <br />COMMUNITY DEU <br /> <br />6129242663 <br /> <br />,P.19 . <br /> <br />(d) The Authority will cooperate with the Developer in processing the necessary land use e <br />and environmental approvals in a timely fashion to allow commencement of <br />construction by the Developer in 2001. The Authority will take lead responsibility in <br />undertaking EA W and ISP approvals for tR@ PRas. I .'.r.a Park Commons East. <br /> <br />(e) The Authority will provide tax increment financing and other public financial <br />assistance to pay some portion of the public r~development costs associated with <br />development of the Paass I .'\rsa Park Commons East. The parties currently <br />anticipate that the public redevelopment costs will include: <br /> <br />. acquisition of all Phase I Area property <br />. site clearing, preliminary grading, environmental work (as needed), and public <br />infrastructure (including public streets and utilities) <br />. construction of parking Structures <br />. public streetscape, town green, and transit improvements, including social and <br />recreational facilities and improvements, equipment or other items that primarily <br />serve a decorative or aesthetic purpose <br />. Assistance for low and moderate income housing <br />. Other costs for which tax increment or other available public funds may be legally <br />spent. <br /> <br />(I) To finance the redevelopment costs described above, the Authority currently <br />estimates that its will' have available, and will commit to me PRase I ^rsa Park ... <br />Commons East, the following sources of funds: proceeds of its Series 1997 A and .. <br />Series ] 997B Tax Increment Bonds, tax increment revenues from a new <br />redevelopment tax increment financing district to be established for tile Paas. I J'.-rea <br />Park Commons East, proceeds of a 1998 Livable Communities program grant from <br />the Metropolitan Council, and any other revenues designated by the Authority in its <br />discretion. Financing may be provided through issuance of bonds, "pay as you go" <br />financing, or some combination thereof. <br /> <br />(g) The Authority will also use its best efforts to approve a definitive Contract with the <br />Developer by November 15, 2000. <br /> <br />e <br /> <br />SJB.182172vl <br />SA285-40 <br /> <br />3 <br />