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ATTAC <br />ST. JUDE MEDICAL <br />August 3`d, 2007 <br />Mr. Joel Hanson, City Administrator <br />City of Little Canada <br />515 Little Canada Road E. <br />Little Canada, MN 55117 <br />RE: Commitment to Pay TIF District Creation Costs <br />Dear Mr. Hanson: <br />E <br />1 4 <br />St. Jude Medical, Inc. <br />One Lillehei Plaza <br />St. Paul, MN 55117 <br />651 483 -2000 <br />651 490 -4310 Fax <br />Please be advised that St. Jude Medical hereby agrees to reimburse the City of Little Canada <br />for all costs associated with the creation of a Tax Increment Financing District (TIF) for the <br />St. Jude expansion project along County Road B2. Those costs are estimated as follows: <br />• City's Financial Advisors (Ehlers Associates, Inc) - $12,500 <br />• Bond Counsel (Briggs & Morgan) 1,000 <br />• District Building Analysis (LHB) 12,000 <br />• City Administrative Costs 1 500 <br />Total $27,000 <br />We understand that the above numbers are only estimates and that variances are possible to <br />each category or the total. We agree to reimburse the City for all appropriate costs within <br />30 days of receipt of an invoice with appropriate documentation. We further understand that <br />if the TIF District is formed and our project is completed, all costs billed by the City and <br />paid by St. Jude Medical, Inc. will be eligible for reimbursement as part of the TIF note to <br />be issued for the "pay as you go" program. Should we not proceed with the project, then no <br />reimbursement will be received by St. Jude Medical, Inc. The City and St. Jude Medical are <br />basing this agreement on the attached preliminary analysis, with the understanding that <br />revisions will occur as the TIF district is defined. <br />34,E `07 <br />Clint Schneider <br />Vice President, Program Management <br />St. Jude Medical <br />ATRIAL FIBRILLATION CARDIAC RHYTHM MANAGEMENT CARDIAC SURGERY CARDIOLOGY NEUROMODULATION <br />