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Estimated Public Redevelopment Costs <br />2. Public Redevelopment Costs. The present estimate of Public Redevelopment Costs are expected to be <br />as set forth below, plus interest to be paid on the Tax Increment Bonds during their term. (other than interest paid <br />from the proceeds of the Tax Increment Bonds). In addition, the - HRA may use Tax Increment to pay for <br />additional Public Redevelopment Costs necessary to maintain the Shopping Center once the anticipated <br />renovation is completed. Such use of Tax Increment is not expected to occur for at least ten (10)..years and is <br />not expected to exceed $750,000 in 1992 dollars, and the use of Tax Increment for this purpose'is authorized <br />hereby. <br />Estimate of Public Redevelo-Dment Costs <br />Land Acquisition <br />$1,500,000 <br />Demolition <br />$2751000 <br />Public Utility/Site Improvements <br />$7005000 <br />Relocation <br />$400,000 <br />Administration <br />$100,000 <br />TOTAL <br />$259751000 <br />TTCP of Fi7ndv. <br />In order to facilitate the redevelopment of the District this TI' Plan authorizes the use of tax increment <br />financing to pay for the cost of certain eligible expenses. The estimate of public costs and uses of funds <br />associated with the District is outlined in the following table. <br />(AS MODIFIED ONA UGUST 22, 2006) <br />Land/Building Acquisition $3,500,000 <br />Site Improvements/Preparation $3,500,000 <br />Public Utilities $2,2501000 <br />Public Improvements $25500,000 <br />Streets and Sidewalks $2,50011#000 <br />Interest $2,030,000 <br />Administrative Costs (up to 10%) $15220,000 <br />PROJECT COSTS TOTAL $179500'9400 <br />Interfund Loans$125200NO <br />Transfers $1252005000 <br />Bond Principal $12,2001000 <br />TIF Note Principal $12,200,000 <br />The above budget is organized according to the Office of State Auditor (OSA) reporting forms. The other <br />financing uses listed above is included for purposes of OSA reporting for the TIP District. It is not <br />intended to be cumulative. Transfers are included in case money is moved from one fund to another <br />Housing and Redevelopment Authority of St. Anthony - Modification to the TIF Plan for TIF District No. 3 <br />W <br />