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ARTICLE IV FINANCING; TAX INCREMENT At'W OTHER PUBLIC ASSISTANCE Section 4.1. Creation of Tax Increment District: Certification. The City has undertaken in good faith to comply with all statutory requirements of the Act to adopt and approve the Tax Increment District as a "redevelopment district" and to adopt the Tax Increment Plan therefor. The creation of the Tax Increment District will be subject to proper consideration by the City and, subject to a substantive factual basis, the making of all necessary findings by the City, including the "but for" finding on need for public assistance. Based on these activities, the City will establish the Tax Increment District and request its certification promptly after its creation. The City intends to create a "hazardous substance subdistrict" within the Tax Increment District in accordance with the requirements of the Tax Increment Act. The Redeveloper acknowledges that the City will elect in the Tax Increment Plan the method of tax increment computation set forth in Minnesota Statutes, Section 469.177, Subdivision 3, clause (b) as to any commercial/industrial development within the Tax Increment District, pursuant to which the fiscal disparity contribution will be taken from within the Tax Increment District. Section 4.2. Tax Increment Financing. The City shall provide to the Redeveloper an amount of tax increment financing assistance which may not exceed the Eligible Project Costs incurred by the Redeveloper and certified by the City as set forth in Section 4.3. The amount of tax increment financing assistance provided will be evaluated at the time of issuance of Tax Increment Bonds and Tax Increment Notes as set forth more fully in Sections 4.6 and 4.7 below to ensure that the Redeveloper Return does not exceed the percentage set forth in Section 4.4. This tax increment financing assistance will be payable to the Redeveloper by the City as provided in this Article. Section 4.3. Submission of Eligible Proiect Costs for Certification and Sources and Uses. (a) On or before March 1 of each year (or more frequently at the Redeveloper's election), the Redeveloper shall submit to the City (i) invoices for Eligible Project Costs from contractors, subcontractors, and/or construction managers with whom the Redeveloper has entered into contracts for certification by the City, together with a sworn statement in a form reasonably acceptable to the City signed by the Redeveloper's Chief Manager to the effect that such Eligible Project Costs were incurred in connection with approved Construction Plans, and also (ii) a cumulative Sources and Uses schedule through December 31 of the preceding year. (b) Eligible Project Costs incurred after the date of execution of this Agreement shall be submitted to the City for certification within fifteen (15) months after they were incurred to be certified by the City and be eligible for reimbursement from Tax Increment. EligibleProject Costs incurred on or before the date of execution of this Agreement shall be submitted to the City within twelve (12) months after such date of execution or such costs will not be certified by the City. 16