CC PACKET 06122012 - Laserfiche WebLink

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Cil "Act" means the Municipal Mousing and Redevelopment Act, Minnesota Statutes, Sections 469.001-469.047 et seq., as amended. "Administrative Expenses" means Authority expenses related to the TIF District, as defined in and to the extent permitted by the TIF Act, which shall be ten percent (10%) of the Tax Increment. "Agreement" means this Redevelopment Agreement, as the same may be from time to time modified, amended or supplemented. "Assessment Agreement" means the Assessment Agreement required under Section 4.4 in substantially the form attached as Exhibit H. "Actual Construction Costs" mean the actual total Construction Costs incurred by Developer to Complete Construction and obtain a certificate of occupancy for the Minimum Improvements. "Anticipated Construction Costs" mean the Developer's estimated budget for Construction Costs required to Complete Construction and obtain a certificate of occupancy for the Minimum Improvements, as detailed in Section 4.3 and as shown in the Development Pro Forma. "Anticipated Construction Costs Statement" means a sworn statement of Anticipated Construction Costs provided by the Developer to the Authority. "Audited Construction Cost Statement" means the statement of Actual Construction Costs prepared and certified by a public accountant, as further described in Section 4.3. "Authority" means the Housing and Redevelopment Authority of the City of Saint Anthony, Minnesota. "Authority Representative" means the Executive Director of the Authority or his or her designee. "Available Tax Increment" means the Tax Increment received by the Authority less the amount of Tax Increment, if any, which the Authority must pay to the school district, the County and the State pursuant to Minnesota Statutes, Sections 469.177, subds. 9, 10, and 11; 469.176, subd. 4h; and 469.175, subd. la, as the same may be amended from time to time, and less Administrative Expenses. "Board" means the Board of Commissioners of the Authority. "Certificate of Completion" means the certificate in substantially the form attached as Exhibit G signed by the Authority Representative certifying completion of the Minimum Improvements. "City" means the City of Saint Anthony, Minnesota.