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��� ���� <br />istration and Accounting: The Redeveloper will administer Project revenues and disbursements <br />therefrom, subject to trust instruments, etc. regarding the repayment <br />of Bonds. The Redeveloper will deliver to the City quarterly reports <br />and also year-end compilation reports which have been prepared by a <br />CPA and certified by the Redeveloper, with both types of reports to <br />not be more limited in scope than the reports which are required to be <br />submitted to its investors and lenders. <br />Redeveloper Entity; <br />Reconveyanc e/Assignment: <br />The Redeveloper anticipates that it will create a Minnesota limited <br />liability company ("LLC") to enter into a Redevelopment Agreement <br />with the City. The LLC's members will be the entity constructing the <br />housing portion of the Project, the entity constructing the office <br />portion and the entity constructing the commercial portion. The LLC <br />can assign the Redeveloper's obligations to construct the various <br />components of the Project to such members or, subject to the <br />reasonable approval ofthe City, to third-party developers. <br />Development Costs: Subject to reimbursement as Eligible Costs within the limitations set <br />forth herein, the Redeveloper will pay for all environmental <br />remediation, site preparation, public improvement, plat, plat <br />amendment, PUD and other development costs. <br />Platting: The Redeveloper will re-plat the Redeveloper Property into the lots <br />shown onthe Site Plan. Following acquisition ofthe Private Property <br />by the Redeveloper, the Private Property will be re-platted so as to <br />incorporate it into the Redevelopment Property as shown on the Site <br />Plan. The City will cooperate with the Redeveloper relative to any <br />vacations or other City actions necessary to accomplish the replatting. <br />City Public Improvements <br />Redeveloper Public <br />Improvements: <br />[any?J <br />Subject to reimbursement as Eligible Costs within the limitations set <br />forth herein, the Redeveloper will construct and pay for the following <br />Public Improvements in accordance with City specifications and <br />subject to approval I�i� the City engineer. The parties will coordinate <br />the installation of the Public Improvements in order to accommodate <br />the timetable for construction of the Minimum Improvements. Upon <br />completion of the Public Improvements in compliance with City <br />specifications and acceptance by the City, the Public Improvements <br />will become public property. <br />� Utility relocation <br />� Burial of electricity, cable, telephone, natural gas <br />� Sanitary sewer <br />� Water mains and stubs <br />5 <br />