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istration and Accounting: The Redeveloper wi11 administer Project revenues and disbursements <br />therefrom, subject to trust instruments, etc. regarding the repayment <br />of Bonds. The Redeveloper wi11 deliver to the City quarterly reports <br />and also year-end compilation reports which have been prepared by a <br />CPA and certi�ied 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 />Rec onveyance/Assignment <br />The Redeveloper anticipates that it wi11 create a Minnesota limited <br />liability company ("LLC") to enter into a Redevelopment Agseement <br />with the City. The LLC's members wi11 be the entity constructing the <br />housing portion of the Project, the entity constructing the of�ice <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 of the City, to third-party developers. <br />Development Costs: Subject to reimbursement as Eligible Costs within the limitations set <br />forth herein, the Redeveloper wi11 pay for a11 environmental <br />remediation, site preparation, public improvement, p1at, plat <br />amendment, PUD and other development costs. <br />Platting: The Redeveloper wi11 re-plat the Redeveloper Property into the lots <br />shown on the Site P1an. Following acquisition of the Private Property <br />by the Redeveloper, the Private PrapErty wi11 be re-platted so as to <br />incorporate it into the Redevelopment Property as shown on the Site <br />P1an. The City wi11 cooperate with the Redeveloper relative to any <br />vacations or other City actions necessary to accomplish the replatting. <br />C i k}'—f�-¢i�' ��h3���w���Lt�F�L� � . ..}e�� <br />Redeveloper Public <br />Improvements: Subject to reimbursement as Eligible Costs within the limitations set <br />forth herein, the Redeveloper wi11 const�-�ct and pay for the following <br />Public Improvements in accordance with City speci�ications and <br />subject to approval by the City engineer. The parties wi11 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 />speci�ications 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 />� <br />