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Medtronic Term Sheet January 17, 2006 Page 3 13. Construction of the park and trail system adjacent to the Medtronic campus may be cost prohibitive due to the soil and wetland conditions. If the costs are deemed excessive by the City, the City will not want to be required to construct the park and therefore, not be required to expend $150,000 of the park dedication fees on the park. If Medtronic insists that the park and trail system be constructed, then the City would require that Medtronic pay for the increased costs above and beyond $150,000 in recognition of the fact that the park development will be a significant benefit to employees of the neighboring commercial development (City would still contribute $150,000). 14. New language will be added to the agreement regarding any tax court petitions to adjust value. Medtronic is required to notify City of tax court petitions filed with the tax court on the development property. Language will be added that the City will continue to make TIF payments to Medtronic based upon the minimum assessment agreement value in place at the time and any additional TIF available for payment will be withheld until the petition is resolved by the court. 15. Amended TIF applicatiorqvill n-i#befiled wiili:tpe City"(feewaived}aud~'new But-For test will be completed tb',appr6ve the;;" '_liest. " '/e ,-" c-7-_!~", :., ~"'_'_.:_';::'-' ;'"->;\J\;, "".;\V _:. _' i_" . _,c. ""_" '_:<-:: _~::\ 16. Job and Wage gomswHL1'1e upc;\at~d~taii~c1uqe;iZ.2(;)0 new jobs asa'resultof the new, larger initial phase.' .' " : ::j;" _ ~jS.: ;f~ \.>,:":t '\:< 17. A public hearing will be r~Uirba:\'(he~e\the 1fiF_;.Qlstrict pudgefwill bel110dified to reflect the larger developmetitand ajJ~pli~;Jjt,~~.{yiIL~,~eldon thi;)' ari):ended AJ;ieement to reflect the new Business Sub$idy that.isbei1U;l~ni{\~ded a1)G th\l-Otheramtmded terms" The EDA will host a public informational lI1~tin~,1g~~!%lUary;'c2fl:~'\-t() go.over final te~s of the amended Development Agreement<With,1ll~J ~.i\\ ~-J?JI'Ii:!ic.helll:ing on the~ended Development Agreement will be hel~ 1'1.* the E:U>~ onR~~Iil~'1;~tl1/TIjey will also a~rri?ve ~e modifi~ati~n to the TIF plan, butthintem IS)l,o,t apuphcJie!(t:1llg;:_OrlcPebruary 13t,i_the City Council w1l1 also approve the amended Developm~t Agreement, but this is nota public hearing. In addition, they will hOld apnblic hearin;g-,o,Ilthe modificatIoIl to the TIF ,plan on that same night as reqnired by statute, ',.'h,-,-