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for the project's contribution to the fiscal disparities pool as <br />set forth in Minnesota Statutes, Section 469.177, Subdivision <br />3(b). <br />10. LGA /HACA Penalty Allowance. Developer acknowledges <br />that they will reimburse the City for anticipated penalties to be <br />imposed upon future Local Government Aid (LGA) and Homestead <br />Credit Agricultural Aid (HACA) receipts as a result of this <br />project. Said reimbursement shall be made at the on -set of the <br />project and in the amount as calculated by City. <br />11. Execution of Final Development Agreement. Developer <br />will execute a Development Agreement with City governing all <br />phases of the proposed project and including the terms for tax <br />increment financing assistance by April 25, 1995. <br />12. Identification of Investors. Developer will identify <br />to the City all investors in the project and shall provide <br />Letters of Intent from all such investors by April 25, 1995. <br />13. Construction Start Dates. Developer hereby warrants <br />that construction will start by the dates indicated below unless <br />as provided for otherwise in a Development Agreement as provided <br />for in Provision #11. <br />* Phase IA (Commercial Development South of Little <br />Canada Road) - May 15, 1995. <br />Phase IB (Commercial Development North of Little <br />Canada Road) - May 15, 1996. <br />* Phase II (Cottages Senior Development) - April 1, <br />1996. <br />14. "Pay As You Go" Tax Increment Assistance. Developer <br />acknowledges any tax increment assistance to be provided by the <br />Page 48 <br />