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D. RLDEVELOPMENT ACTIVITIES <br /> 1 . Private Redevelopment Activity <br /> All private redevelopment proposed for, the Project <br /> of which the HRA and City ar•e aware are about 107 <br /> townhomes and their, accessory land uses. The City <br /> is not aware of any contracts having been entered <br /> into at the time of the preparation of this TIF <br /> Flan with respect to any other, development <br /> proposals. <br /> Public Development Activities <br /> It is not anticipated that any public development <br /> activities will occur, within this District which <br /> will be financed by TIF. Soil Correction to be <br /> financed by TIF will be completed by the <br /> redeveloper. Upon completion of the Soil Correction by the <br /> redeveloper, the HRA will reimburse the redeveloper for <br /> the costs of the soil correction work by issuing to the <br /> redeveloper its tax increment revenue note (the "Note") <br /> in the principal amount of the lesser of (i) $250,000 or <br /> (ii) the actual costs of the soil correction. The Note <br /> will bear interest at 12% per annum and will mature on <br /> June 1 , 2001. Principal on the Note will be payable when <br /> and if tax increment is available. <br /> E. FINANCIAL ANALYSIS AND THE TIF DISTRICT BUDGET: <br /> Soil Correction s 250,000 <br /> Administrative Costs 25,000 <br /> TOTAL COST s 275,000 <br /> 10 <br />