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<br />John Herman <br />August 4, 2003 <br />Page 7 <br /> <br /> <br />C. Road Improvements on 39th Street. No Changes. <br /> <br />D. Financing. No Changes. <br /> <br />VII. Public Assistance and TIF Budget. Leave the amount blank at this time. It will be filled in <br />when negotiations are completed. <br /> <br />VIII. Tax increment Financing Plan; Other Financing for Public Improvements and Publicly <br />Assisted Redevelopment Costs. <br /> <br />A. Authoritv/City Grant Applications. No Changes. <br /> <br />B. Commercial Special Assessments. Add clarifying language that the $1.2 million will <br />be paid up front by the Large Anchor Tenant and that the $500,000 will be assessed in <br />accordance with Section II E. <br /> <br />C. Housing Special Assessments. The City and Ehlers will need clarification as to the <br />amount being assessed to the For Sale Housing in Phase IB and the rational as to why <br />no assessments will be paid by Phase IA housing. If no assessments are to be paid by <br />Phase IA Housing, then it is assumed that they should pay a higher per unit land <br />acquisition price that will reflect the total costs being paid by Phase IB Housing. <br /> <br />D. Public ()Pen Space Contribution. It is the City's and Ehlers understanding that the <br />total park site being developed is approximately 3.4 acres. Of this, 1.7 acres is the <br />required size of the storm water pond for the commerciallhousing development and <br />the remaining 1.7 acres is for park trails and other improvements. The City will accept <br />the 1.7 acres of land as a contribution by the commercial development in lieu of <br />payment of Park Dedication Fees. However, the City requires payment of Park <br />Dedication Fees by the housing developments to support development ofthe Park. <br /> <br />E. Tax Increment fmancing. No Changes <br /> <br />a. Admin Fees. No Changes <br /> <br />b. Taxable with Tax Exempt Take Out. The City will only consider subordinating its <br />5% Admiuistration fees if it is proven that it is needed for coverage. <br /> <br />c. Fiscal Disparities. The City will pay Fiscal Disparities outside the District only if <br />it is proven by the Redeveloper that it is needed. <br /> <br />IX. Environmental, zoning and Land Use Approvals, Building and construction Permits. <br /> <br />A. Environmental Review. No Changes. <br /> <br />B. Zoning and Land Use Approvals. No changes <br /> <br />C. Building and Construction Permits. No Changes <br />