Laserfiche WebLink
"Reimbursable Costs" means the portion of the costs to be incurred by the Multifamily <br />Developer in connection with the development of the Minimum Improvements to be reimbursed <br />by the City through the issuance and payment of the Note which costs are further described in <br />the Tax Increment Plan, including land acquisition costs and parking facilities. <br />"Relocation Benefits" means the relocation assistance, services, payments and benefits <br />required under Minnesota Statutes Sections 117.50-117.56. <br />"Restaurant Parcel" means the real property depicted and legally described on Schedule I <br />currently improved by a restaurant commonly known as "Dino's Gyros". <br />"Senior Developer" means Town Square Senior Apartments LLC, a Minnesota limited <br />liability company, and its permitted successors and assigns. <br />"Senior Development Property" means the real property legally described on the attached <br />Schedule C. <br />"Senior TIF Note" means the Taxable Tax Increment Revenue Note to be issued by the <br />City pursuant to the Senior Development Agreement, which Note shall be substantially in the <br />form of the note attached to such Agreement. <br />"Shopping Center Parcel" means the real property depicted and legally described on <br />Schedule J currently improved by a shopping center commonly known as "Northome Shopping <br />Center". <br />"Snelling Avenue Parcel" means the real property depicted and legally described on <br />Schedule K currently used as a service drive and to be included in the Multifamily Development <br />Property. <br />..ti,F1-L1f1 C~ 1.~ 7ii'' ~- { T ?b FF~ (( l R a~ ''l~ ) <br />,.s i. s .rt~.w.. = S' ~. ,. L - l ^'~~ .__ I~!4~.~ C:I.~I. ~)F 1 i.~} ! 1~3 i~'t 1 .~ . ri ..t'.? l ~. t, f~, ~ .)3'1~}. t. <br />(7'q,'.-~i.,~~ t._~ ~i ,. 1{>'„T ~ ~.. ;..4.{~C)i,i.!t: `_' ~ ji ~ !Lh~~,.~, U~,.t'~.___...._ ~.~.1}~~~S~a~i1°,. ~!...~.~~~ _;,_)-~~~ F...._.„..r.__~~„..~ <br />"State" means the State of Minnesota. <br />"Supplemental Available Tax Increment" means one hundred percent (100%) of the <br />Townhome Available Tax Increment which amount shall be applied as follows: (i) to the amount <br />necessary to make a scheduled payment under the Multifamily TIF Note up to the amount of <br />property taxes actually paid by the Multifamily Developer with respect to the Multifamily <br />Development Property in such six (6) month period; (ii) to the amount necessary to make a <br />scheduled payment under the Senior TIF Note up to the amount of property taxes actually paid <br />by the Senior Developer with respect to the Senior Development Property in such six (6) month <br />period; and (iii) the balance which is to be retained by the Townhome Developer. <br />"Tax Increment" means that portion of the real property taxes paid with respect to the <br />Multifamily Development Property and the Minimum Improvements, or the Townhome <br />