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Subsection 2-9. Sources of Revenue/Bonded Indebtedness Public improvement costs, acquisition, relocation, utilities, parking facilities, streets and sidewalks, and site preparation costs and other costs outlined in the Uses of Funds will be financed primarily through the annual collection of tax increments. The HRA or City reserves the right to use other sources of revenue legally applicable to the HRA or City and the TIF Plan, including, but, not limited to, special assessments,g eneral property taxes, state aid for road maintenance and construction, proceeds from the sale of land, other contributions from the developer and investment income, to pay for the estimated public costs. The HRA or City reserves the right to incur bonded indebtedness or other indebtedness as a result of the TIF Plan. As presently proposed, the project will be financed by a bond issue or pay-as-you-go note and interfund loan. Additional indebtedness may be required to finance other authorized activities. The total principal amount of bonded indebtedness, including a general obligation (GO) TIF bond, or other indebtedness related to the use of tax increment financing will not exceed $45,000,000 without a modification to the TIF Plan pursuant to applicable statutory requirements. This provision does not obligate the IRA or City to incur debt. The HRA or City will issue bonds or incur other debt only upon the determination that such action is in the best interest of the City. The HRA or City may also finance the activities to be undertaken pursuant to the TIF Plan through loans from funds of the HRA or City or- to reimburse the developer on a "pay-as-you-go" basis for eligible costs paid for by a developer. The estimated sources of funds for the District are contained in the table on the next page. .I®iIII�A. SOURCES OF FUNDS TOTAL .AAAAAAl111U - IIAA.AI�IA� Tax Increment $53,094,1.69 PROJECT REVENUES $53,094,169 (AS MODIFIED ONMARCH 14, 2006) SOURCES OF FUNDS 1®AIAAA TOTAL Tax Increment $7397719749 Interest Income $509000 PROJECT REVENUES $73821,749 IA.IIA®AIRI®IIA..AII ' Pay -As -You -Go Notes $7397719749 Interfund Loans $20,0009000 Bond Proceeds $73,7719749 Subsection 2-10. Uses of Funds Currently under consideration for the District is a proposal to facilitate redevelopment for a mixed-use project, which includes rental and owner occupied housing and retail. The HRA and City have determined that it will be necessary to provide assistance to the project for certain costs. The HRA has studied the feasibility of the development or redevelopment of property in and around the District. To facilitate the establishment and development or redevelopment of the District, this TIF Plan authorizes the use of tax increment financing to pay for the cost of certain eligible expenses. The estimate of public costs and uses of Housing and Redevelopment Authority of St. Anthony Tax Increment Financing Plan for Tax Increment Financing District No. 3-5 26 2-6