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_ r <br /> JUL ..`.. ;.Q— OS:12AM P. 1 <br /> L)EVELUF'MEIq,T ACT I V 11' I ES <br /> 1 . FUr &te Redevelopment Act ivi tv <br /> • <br /> All private redevelopment proposed for the Peo,iect <br /> of which the HFA and City are aware are about :7 <br /> townhon,es and their accessory land uses. The City <br /> is not awar•a of any contracts having been entered <br /> into at the time of the pr•epar•ation of this TIF <br /> Plan with respect to any other, development <br /> proposals. <br /> 2 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 11RA will reimburse the redeveloper for <br /> up to $267,000 of Lhe costs of the soil correction work <br /> from proceeds of its tax increment revenue note (the "Noce"). <br /> The Note will bear interest at 12% per annum and will mature <br /> on September 1 , 2001 . Principal on the Noce will be payable <br /> when and if tax increment is available. <br /> E. FINANCIAL ANALYSIS AND THE TIF DISTRICT BUDGET: <br /> Soil Correction $ 267,000 <br /> Administrative Costs 25,000 <br /> TOTAL COST $ 292,000 <br /> 10 <br />