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tax increments are generated and available, thereby <br />eliminating the need for the issuance of Tax Increment Bonds. <br />SUPPORTIVE DATA FOR THE ESTIMATED COSTS OF IMPROVEMENTS FOR <br />THE DISTRICT UNDER DEVELOPMENT PROGRAM <br />ITEM BASIS FOR ESTIMATE <br />LAND ACQUISITION, Estimates by Developer <br />DEMOLITION, SITE DEVELOPMENT <br />ADMINISTRATION 10% maximum allowed for <br />local administration pur- <br />suant to Minnesota Statutes, <br />Section 469.174, Subdivision <br />14, "Administrative <br />Expenses ", includes amounts <br />paid for services provided <br />by bond counsel, fiscal <br />consultants, and planning <br />or economic development <br />consultants <br />PROFESSIONAL SERVICES <br />INTEREST ON BONDS PRIOR <br />TO RECEIPT OF TAX INCREMENT <br />TO FULLY FUND PRINCIPAL AND <br />INTEREST <br />Estimates for project costs <br />for legal assistance, <br />planning, design engineer- <br />ing, appraisals, and <br />marketing <br />Assumes 9.75% interest rate <br />Subsection 1.6. Environmental Controls. The proposed <br />development activities in the District do not present <br />significant environmental concerns. All municipal actions, <br />public improvements and private development shall be carried <br />out in a manner consistent with existing environmental <br />standards. <br />Subsection 1.7. Proposed Reuse of Property. The public <br />improvements needed to bring about the new development include <br />land acquisition, demolition and site development. The <br />estimated land acquisition, demolition and site development <br />and other capital and administration expenses are referenced <br />in the Tax Increment Financing Plan for Tax Increment <br />1 -6 <br />Page 13 <br />