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� � r�. � � <br />�_ . <br />Tax Increment Financing: <br />relocation benefits, attorney's fees and other professional fees <br />and services. <br />3. At the time a court deposit or payment is required, the <br />Redeveloper advances an amount equal to the greater of (i} <br />110% of the estimated total acquisition costs, less the <br />Redeveloper's initial deposit or (ii} the amount of such deposit <br />or payment. Conveyance to the Redeveloper will occur <br />promptly after acquisition by the City. At the closing, the <br />Redeveloper will pay or the City will refund the difference <br />between the actual condemnation costs and sums previously <br />deposited by the Redeveloper. If the amount of the award or <br />relocation payment is appealed, the Redeveloper will advance, <br />at closing, 110% of the amount of the Respondent's claim plus <br />the City's estimated costs of defending the appeal, less amounts <br />previously deposited. <br />4. If the City is unable to acquire a parcel of property through the <br />eminent domain process, the City and Redeveloper will <br />negotiate changes to the Concept Plan attached as E�ibit B to <br />accommodate the elimination of such parcel. <br />5. The parties agree to negotiate changes to the Concept Plan if the <br />cost to acquire one or more of the parcels in Area 8 substantially <br />exceeds the parties' estimates and renders the entire Project (not <br />just the portion of the Project relating to Area 8) economically <br />unfeasible. <br />The City will provide the following tax increment financing to the <br />Redeveloper, as set forth in greater detail below: <br />The City will issue Tax Increment ("TI") Revenue Bonds <br />payable only from tax increment generated by the <br />Redevelopment Project for tax increment-eligible costs <br />("Eligible Costs") incurred by the Redeveloper. The Eligible <br />Costs will include all costs eligible for payment with tax <br />increment under applicable law. <br />2. The City will issue a pay-as-you-go TI Revenue Note or Notes, <br />payable frort� tax increment, to reimburse the Redeveloper for <br />Eligible Costs which have not been reimbursed by City public <br />improvement or special assessment bonds or TI Revenue <br />Bonds. <br />3. The Contract for Private Redevelopment (the "Redevelopment <br />Agreement") to he entered into between the parties will <br />contained a schedule as to the timing of issuance by the City <br />and the amounts of TI Revenue Bonds and TI Revenue Notes. <br />� <br />