Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers Sample Clauses

Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The purchase price of the property is $810,000as an eligible expense. The estimated costs of utilities including sewer and water is $1,446,189. Streets and drainage are estimated at $2,520,655. Planning activities including engineering, architecture, legal fees and government fees are estimated at $872,706. The total of the eligible expenses for this project is estimated by the developer at $5,650,000. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing.
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Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer owns this property and acquisition is not part of the request for tax increment financing. The estimated costs of rehabilitation of this property is $2,840,322 along with $295,000 for site improvement and planning related expenses for Architectural and Engineering services of $250,400 and are included as a TIF eligible expense. Legal, Developer and Audit Fees including a reimbursement to the City and the CRA of $124,373 are included as TIF eligible expense. The total of eligible expenses for this project is $3,510,095. The CRA has been asked to grant $240,000 to this project to offset the cost of life safety improvements and $300,000 for façade improvements. The total eligible expenses for this project less other grant funds by the CRA is $2,970,095. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing.
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Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer is proposing to purchase this property for redevelopment for $656,000 provided that TIF is available for the project as defined. The cost of property acquisition is being included as a TIF eligible expense. Costs for site preparation including, grading and fill is estimated at $171,000. Utility extensions, storm water, sewer electrical and water are estimated at $315,700, Building plans and engineering are expected to cost $153,090. The cost to pave Lake Street and the private drive from U.S. Highway 34 is $432,119. An additional $59,022 of expenses for legal work, fees and financial tracking of this project are also included as eligible expenses for a total maximum TIF request of $1,824,179. It is estimated based on the proposed increased valuation to $6,097,813 will result in $1,920,000 of increment generated over a 15 year period. This project should pay off prior to the end of the 15 year bond period.. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing.
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Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer purchased this property on November 9, 2018 for $675,000. The estimated costs of rehabilitation of this property is $1,575,000,, onsite improvements of $250,000 planning related expenses for Architectural and Engineering services of $130,000 and are included as a TIF eligible expense. Legal, Developer and Audit Fees of $7,100 including a reimbursement to the City and the CRA of $7,100 are included as TIF eligible expense. The total of eligible expenses for this project exceeds $2,637,000. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing.
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Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer owns this property and acquisition is not part of the request for tax increment financing. The estimated costs for this project are $300,512. Demolition expenses are estimated at $11,500. Site improvements including: tree removal, utility improvements, sidewalks and other flat concrete of $33,668, Architectural and Engineering planning services of $2,000 and are included as a TIF eligible expense. Legal, Developer and Audit Fees including a reimbursement to the City and the CRA of $5,600 are included as TIF eligible expense. The total of eligible expenses for this project is $52,768. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing.
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Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer owns some of this property and is proposing to other portions (specifically those owned by Xxxxx’x Welding) for redevelopment for $662,479 in the next year provided that TIF is available for the project as defined. The cost of property acquisition is being included as a TIF eligible expense. Costs for site preparation, rehabilitation, demolition, utility improvements and parking improvements are included as a TIF eligible expenses. It is estimated based on the proposed increased valuation of $2,830,825 will result in $886,965 of increment generated over a 15 year period, substantially less than the TIF allowable expenses. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing.
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Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer is proposing to purchase this property for $245,000. The cost of property acquisition is being included as a TIF eligible expense. Total costs for construction is estimated at $1,209,500 and is not TIF eligible. The cost of grading, dirt work and fill is $20,000. An additional $40,000 of expenses for demolition, along with on-site improvements of $11,000. Including a $5,700 of expenses for legal work, fees and financial tracking of this project are also included as eligible expenses. The total estimated eligible expenses are $321,700. The request for TIF assistance is $318,825. It is estimated based on the proposed increased valuation to $1,218,278 that available TIF Ebc Xxxxxxxxxx LLC: 000 X Xxxx Xxxxxx P a g e | 6 would be $333,307 over the 15 year period. This project should pay off prior to the end of the 15 year bond period. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing.
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Related to Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers

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  • Payment of Premiums; Substitution of Policy; Loss Reserve; Protection of Lender If Lender required Mortgage Insurance as a condition of making the Loan, Borrower will pay the premiums required to maintain the Mortgage Insurance in effect. If Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, and (i) the Mortgage Insurance coverage required by Lender ceases for any reason to be available from the mortgage insurer that previously provided such insurance, or (ii) Lender determines in its sole discretion that such mortgage insurer is no longer eligible to provide the Mortgage Insurance coverage required by Lender, Borrower will pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Xxxxxx. If substantially equivalent Mortgage Insurance coverage is not available, Borrower will continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use, and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve will be non-refundable, even when the Loan is paid in full, and Lender will not be required to pay Borrower any interest or earnings on such loss reserve. Lender will no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower will pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender’s requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 11 affects Borrower’s obligation to pay interest at the Note rate.

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