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• • "PUD Agreement" means the Planned Unit Development Agreement to be entered into between the City and the Developers, and mutually agreeable to the City and the Developers. "Reimbursable Costs" means the portion of the costs to be incurred by the Multifamily Developer in connection with the development of the Minimum Improvements to be reimbursed by the City through the issuance and payment of the Note which costs are further described in the Tax Increment Plan, including land acquisition costs and parking facilities. "Relocation Benefits" means the relocation assistance, services, payments and benefits required under Minnesota Statutes Sections 117.50-117.56. "Restaurant Parcel" means the real property depicted and legally described on Schedule I currently improved by a restaurant commonly known as "Dino's Gyros". "Senior Developer" means Town Square Senior Apartments LLC, a Minnesota limited liability company, and its permitted successors and assigns. "Senior Development Property" means the real property legally described on the attached Schedule C. "Senior TIF Note" means the Taxable Tax Increment Revenue Note to be issued by the City pursuant to the Senior Development Agreement, which Note shall be substantially in the form of the note attached to such Agreement. "Shopping Center Pazcel" means the real property depicted and legally described on Schedule J currently improved by a shopping center commonly known as "Northome Shopping Center". "Snelling Avenue Parcel" means the real property depicted and legally described on Schedule K currently used as a service drive and to be included in the Multifamily Development Property. "Snelling Avenue Frontage Road -North of Larpenteur" means the real property depicted and legally described on Schedule L currently used as a service drive. "State" means the State of Minnesota. ~' ,, ,; "Supplemental Available Tax Increment" means one~olty and 60,100 percent_ 40.6%) of;<-~,~ the Townhome Available Tax Increment, _ ,~ "Tax Increment" means that portion of the real property taxes paid with respect to the 7vlultifamily Development Property and the Minimum Improvements, or the Townhome Development Properly and the Townhome Minimum Improvements, as applicable that is 'remitted to the City as tax increment pursuant to the Tax Increment Act. Deleted: hundred Deleted: 100 Deleted: which amount shall be applied as follows: (i) to the amount necessary to make a scheduled payment under the Multifamily TIP Note up to the amount of property taxes actually paid by the Multifamily Developer with respect to the Multifamily Development Property in such six (6) momh period; (ii) to the amount necessary to make a scheduled payment under the Senior TIF Nore up to the amount of property taxes actually paid by the Senior Developer with respect to the Senior Development Property in such six (6) month period; and (iii) the balance which is to be retained by the Townhome Developer ~~ J