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<br />9. If you answered YES to any of the questions in the above table, please clearly describe what <br />is needed and why, the timeline, and additional steps necessary or planned. For funding <br />sources contributing to the project, complete the attached Table 1 - Funding Sources <br />Summary. <br /> <br />(1) The Village is actively pursuing other sources of environmental funding other than ERF, <br />including Department of Employment and Economic Development Cleanup funding. <br />Funding decisions are expected by June/July 2018. <br />(2) The Village is waiting to secure cleanup funding before they can commence <br />construction. Options for construction financing have been identified. Letters of interest <br />from funders are attached and details are in provided in Table 1 – Funding Sources <br />Summary. <br />(3) Details of TIF financing are included above and in Table 1 – Funding Sources Summary. <br /> <br /> <br /> <br />10. Describe why ERF funding is needed. Although construction funding is committed for the <br />proposed redevelopment, successful cleanup of the property is contingent upon receiving <br />funding from the granting agencies. The cost of remediation is significant in order to comply <br />with Minnesota Pollution Control Agency (“MPCA”) requirements and to ensure that the <br />redevelopment is protective to human health. The remediation costs make the property <br />undevelopable without significant contributions of public funding. <br /> <br /> <br />11. Describe the effect on the project if ERF funds are not awarded. <br /> <br />Without ERF funding, The Village may be forced to reduce to the degree to which <br />contamination at the property is cleaned up. Additional contaminated soil may be left on <br />site, and this may necessitate a modification in the position and size of the proposed <br />buildings, thus delaying the development and potentially reducing the number of housing <br />units created and reducing future tax capacity. Additionally, reducing the degree to which <br />the property is cleaned up reduces the positive impact of the redevelopment on the <br />community and increases the likelihood that contamination will need to be addressed <br />during future modifications or redevelopments at the property. <br /> <br />12. Complete the attached Table 2 - Project Budget Summary. <br /> <br />78