Common use of Use of TIF Bond Proceeds Clause in Contracts

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following priority: FIRST PRIORITY EXPENSE: Reimburse the City for the cost of issuing the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF Bond, and the City’s cost to record Exhibits G, H, I, and L. SECOND PRIORTY EXPENSE: Payment of grant or grants in the amount of $227,500.00 to reimburse Redeveloper for costs of the Project One Site Acquisition. THIRD PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount of $100,000.00 for costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape Improvements. Said costs are approximately $90,000 and $10,000 respectively. FOURTH PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper up to the sum of $50,000.00 for the costs of the Project One Façade Enhancements. Based on preliminary cost estimates, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancements. The Second through Fourth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One Façade Enhancements in excess of the available Project One TIF Bond Proceeds as described above. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancements as described herein and the Redeveloper does not have discretionary judgment over the applications of said grant funds.

Use of TIF Bond Proceeds. A. Use Priority of Project One TIF Bond ProceedsExpenditures. Project One TIF Bond Proceeds from the issuance of TIF Indebtedness shall be used for and expended for priority expenses (each a “Priority Expense”) in the following priority: priority in accordance with those cost estimates listed on Exhibit C. FIRST TIF PRIORITY EXPENSE: Reimburse the City Redeveloper for the cost of issuing the Project One TIF BondAdmin. Fee, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondBond Counsel fee, and the CityRedeveloper’s cost to record Exhibits G, H, I, and L. any attached Exhibits. SECOND PRIORTY TIF PRIORITY EXPENSE: Payment The City is entitled to receive up to Five Hundred Thousand Dollars ($500,000.00) of grant or grants the TIF Bond Proceeds to assist in funding City Public Improvements in the amount of $227,500.00 Project Area City elects to reimburse Redeveloper for costs of the Project One Site Acquisitionimplement. THIRD TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Site Acquisition costs of the Project Site in the amount of $100,000.00 for costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape Improvements. Said costs are approximately $90,000 and $10,000 respectively2,450,000.00. FOURTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of Site Preparation costs up to the sum $350,000.00. FIFTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its right of way improvement costs up to $50,000.00 450,000.00. SIXTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for the all or a portion of its Utility Improvement costs up to $150,000.00. SEVENTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Project One Façade EnhancementsEnhancements costs up to $1,376,000.00. Based on preliminary cost estimatesEIGHTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Energy Enhancements costs up to $500,000.00, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancementsafter deducting any Lincoln Electric System rebates. The Second First, and Third through Fourth Eighth Items are individually referred to as “Redeveloper TIF Priority Expenses are Expense” and hereinafter referred to collectively as the “Redeveloper Project One TIF Priority Expenses.” Only Many of the costs for the Uses listed in Exhibit C are estimates and actual reimbursements will be based upon the actual design, inspection, project administration, construction, financing and implementation costs. In the event an actual Redeveloper Project One TIF Priority Expense is less than the maximum amount stated for said Redeveloper TIF Priority Expense above, then the difference may be used to fund any actual Redeveloper TIF Priority Expense(s) that is or are more than the maximum amount stated for said Redeveloper TIF Priority Expense(s) above. Except costs incurred for Site Acquisition, Project One Acquisition and Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement only costs for TIF Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One TIF Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One Façade Enhancements in excess of the available Project One TIF Bond Proceeds as described above. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancements costs of TIF Priority Expenses as described herein herein, and the Redeveloper does shall not have discretionary judgment over the applications application of said grant funds.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following priority: FIRST PRIORITY EXPENSE: Reimburse the City Redeveloper for the cost of issuing Bond Counsel Fee for the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondAdmin. Fee, and the City’s cost to record Exhibits G, H, I, F and L. J. SECOND PRIORTY PRIORITY EXPENSE: Payment of grant or grants in the amount of approximately Three Hundred Twenty Five Thousand and No/100 Dollars ($227,500.00 325,000.00) to reimburse Redeveloper for some or all of its costs of the Project One Site AcquisitionPreparation. THIRD PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount of approximately One Hundred Eighty Seven Thousand Five Hundred and No/100 Dollars ($100,000.00 187,500.00) for costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape Intersection Improvements. Said costs are approximately $90,000 and $10,000 respectively. FOURTH PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper up to in the sum amount of approximately One Hundred Thousand and No/100 Dollars ($50,000.00 100,000.00) for Facade Enhancements. FIFTH PRIORITY EXPENSE: Payment of grants in the amount of approximately Three Hundred Twenty Seven Thousand Nine Hundred and No/100 Dollars ($327,900.00) for the costs of the Project One Façade Enhancements. Based on preliminary cost estimates, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade EnhancementsSite Acquisition. The Second First through Fourth Fifth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” ”) more particularly described on Exhibit “B”, attached and incorporated by this reference. Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs Priority Expenses incurred after the date of this Redevelopment Agreement shall be eligible for reimbursement as Redeveloper Project One Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One Façade Enhancements Priority Expenses in excess of the available Project One TIF Bond Proceeds as described aboveProceeds. The funds granted to Redeveloper are restricted and earmarked solely designated for the reimbursement of TIF eligible Project One Site Acquisitioncosts. However, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancements as described herein these projected costs are estimates and the Redeveloper does not have discretionary judgment over final figures may vary. The City agrees that the applications individual line items of said grant fundsthe TIF eligible costs may be adjusted based on final costs.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond “A” Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit B) in the following priority: FIRST TIF PRIORITY EXPENSE: Reimburse the Redeveloper for the Bond Counsel Fee for the TIF Bond, the TIF Admin. Fee, and the Redeveloper’s cost to record Exhibit (Façade Easement) and Exhibit (Memorandum of Redevelopment Agreement). SECOND TIF PRIORITY EXPENSE: Reimburse the City for the cost of issuing the Project One City Streetscape Improvements. THIRD TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF Bond, and the City’s cost to record Exhibits G, H, I, and L. SECOND PRIORTY EXPENSE: Payment of grant or grants in Reimburse the amount of $227,500.00 to reimburse Redeveloper for costs of the Project One Site Acquisition. THIRD PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount of $100,000.00 for costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape Improvements. Said costs are approximately $90,000 and $10,000 respectively. FOURTH PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper up to the sum of $50,000.00 for the costs of Site Acquisition. FOURTH TIF PRIORITY EXPENSE: Reimburse the Project One Redeveloper for the costs of Site Preparation. FIFTH TIF PRIORITY EXPENSE: Reimburse the Redeveloper for the costs of Redeveloper Right-of-Way Improvements. SIXTH TIF PRIORITY EXPENSE: Reimburse the Redeveloper for the costs of Façade Enhancements. Based on preliminary cost estimates, SEVENTH TIF PRIORITY EXPENSE: Reimburse the Project One TIF Bond Proceeds shall not fully fund Redeveloper for the eligible Project One Façade Enhancements. The Second through Fourth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” Only costs of Energy Enhancements Except costs incurred for Redeveloper Project One Site Acquisition, Project One Acquisition and Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement only costs for TIF Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One TIF Priority Expenses under this Section. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible costs of the TIF Priority Expenses, as described herein, and the Redeveloper does not have discretionary judgment over the applications of said grant funds. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site AcquisitionSecond, Project One Site PreparationThird, Project One Streetscape Improvementsand Fourth, and/or Project One Façade Enhancements Fifth, Sixth, and Seventh TIF Priority Expenses in excess of the available Project One TIF Bond Proceeds remaining after the First TIF Priority and Second TIF Priority Expenses as described aboveabove have been paid in full. The funds granted City shall not have any obligation to make a grant or grants to reimburse the Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One Site AcquisitionSixth and Seventh TIF Priority Expenses until the Second, Project One Site Preparation, Project One Streetscape ImprovementsThird, and Project One Façade Enhancements Fourth TIF Priority Expenses as described herein and the Redeveloper does not above have discretionary judgment over the applications of said grant fundsbeen paid in full.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond “A” Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit B) in the following priority: FIRST TIF PRIORITY EXPENSE: Reimburse the City Redeveloper for the cost of issuing Bond Counsel Fee for the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondAdmin. Fee, and the CityRedeveloper’s cost to record Exhibits GExhibit F, H, IExhibit L, and L. Exhibit M. SECOND PRIORTY EXPENSE: Payment of grant or grants in the amount of $227,500.00 to reimburse Redeveloper for costs of the Project One Site Acquisition. THIRD TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in for the amount of $100,000.00 for costs total cost of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape Public Improvements. Said THIRD TIF PRIORTY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its costs are approximately $90,000 and $10,000 respectivelyfor Site Acquisition. FOURTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper up for all or a portion of its costs for Site Preparation. FIFTH TIF PRIORITY EXPENSE: Payment of grant or grants to the sum reimburse Redeveloper for all or a portion of $50,000.00 for the its costs of the Project One Façade Facade Enhancements. Based on preliminary SIXTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its cost estimates, for the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Energy Enhancements. The Second through Fourth Priority Expenses are collectively SEVENTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the “Redeveloper Project One Priority Expenses.” cost of capitalized interest incurred during construction of the Project. Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs TIF Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One TIF Priority Expenses under this Section. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible costs of the TIF Priority Expenses, as described herein, and the Redeveloper does not have discretionary judgment over the applications of said grant funds. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site AcquisitionThird, Project One Site PreparationFourth, Project One Streetscape ImprovementsFifth, and/or Project One Façade Enhancements and Sixth TIF Priority Expenses in excess of the available Project One TIF Bond Proceeds remaining after the First TIF Priority and Second TIF Priority Expenses as described aboveabove have been paid in full. The funds granted City shall not have any obligation to make a grant or grants to reimburse the Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One Site AcquisitionSixth TIF Priority Expenses until the Third, Project One Site Preparation, Project One Streetscape Improvements, Fourth and Project One Façade Enhancements Fifth TIF Priority Expenses as described herein and the Redeveloper does not above have discretionary judgment over the applications of said grant fundsbeen paid in full.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond A Proceeds. Project One TIF Bond A Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following prioritypriority in such sums not to exceed the amounts reflected below: FIRST PRIORITY EXPENSE: Reimburse the City for the cost of issuing the Project One TIF BondBond A, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondBond A, and the City’s cost to record Exhibits G, H, I, G and L. J. SECOND PRIORTY EXPENSE: Payment of grant or grants in the amount of $227,500.00 920,400.00 to reimburse Redeveloper for a portion of its costs of the Project One Site Acquisition. THIRD PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount of $100,000.00 308,000.00 to reimburse Redeveloper for some or all of its costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Preparation. FOURTH PRIORITY EXPENSE: Payment of a grant or grants in the amount of $45,000 for some or all of the costs of the Streetscape Improvements. Said costs are approximately $90,000 and $10,000 respectively. FOURTH FIFTH PRIORITY EXPENSE: Payment of grant or grants in the amount of $484,000 to reimburse Redeveloper up to the sum for some or all of $50,000.00 for the its costs of the Project One Façade Enhancements. Based on preliminary cost estimates, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancements. The Second through Fourth Fifth Priority Expenses are (collectively the “Redeveloper Project One TIF Bond A Proceeds Priority Expenses.” ”) Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, Improvements and Project One Façade Enhancement costs incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One Second through Fifth Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One Façade Enhancements in excess of the available Project One TIF Bond A Proceeds as described above. The funds granted to Redeveloper are restricted and earmarked solely designated for the reimbursement of eligible Project One costs of Site Acquisition, Project One Site Preparation, Project One Streetscape ImprovementsImprovements and Façade Enhancements. However, and Project One Façade Enhancements as described herein these projected costs are estimates and the Redeveloper does not have discretionary judgment over final figures may vary. The City agrees that the applications individual line items of said grant fundsthe eligible costs may be adjusted based on final costs.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following prioritypriority for each phase of the Redevelopment Project: FIRST PRIORITY EXPENSEPRIORITY: Reimburse the City Redeveloper for the cost of issuing recording the Project One TIF BondMemorandum of Agreement and Use Restrictions, including but not limited to payment of bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, payment of the Project One City’s Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF Bond, and the City’s cost to record Exhibits G, H, I, and L. Administration fee. SECOND PRIORTY EXPENSEPRIORITY: Payment of a grant or grants in the amount of $227,500.00 to reimburse Redeveloper for all or partial costs for Site Acquisition within the project site up to Seven Hundred and Ten Thousand, Two Hundred Sixty-Six Thousand Dollars and Ninety-Two Cents ($710,266.92) THIRD PRIORITY: Payment of the Project One a grant or grants to reimburse Redeveloper for all or partial costs for Site AcquisitionPreparation, to include demolition, up to Sixty-Three Thousand Dollars ($63,000.00). THIRD PRIORITY EXPENSEPRIORITY: Payment of grant or grants to reimburse Redeveloper in for all or partial costs for the amount Right of $100,000.00 for costs of Way Improvements within the Project One Site Preparation Area up to Sixty Three Thousand Two Hundred Dollars (including demolition, grading, and alley paving$63,200.) and Streetscape Improvements. Said costs are approximately $90,000 and $10,000 respectively. FOURTH PRIORITY EXPENSEPRIORITY: Payment of grant or grants to reimburse Redeveloper for all or partial costs for Façade Enhancements up to the sum Twenty-Three Thousand Seven Hundred Dollars ($23,700.00). FIFTH PRIORITY: Payment of $50,000.00 grant or grants to reimburse Redeveloper for the all or partial costs of the Project One Façade Enhancements. Based on preliminary cost estimates, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancements. The Second through Fourth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One Priority Expenses under this Section. Energy Enhancements up to Twenty-Seven Thousand Dollars ($27,000.00) The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvementsor Façade Enhancements, and/or Project One Façade or Energy Enhancements in excess of the available Project One TIF Bond Proceeds as described above. Redeveloper shall use its own funds to fund any Second, Third, Fourth and Fifth Priority costs that exceed the TIF Bond Proceeds that are lawfully available and granted to the Redeveloper hereunder. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One the Site Acquisition, Project One Site Preparation, Project One Streetscape ImprovementsFaçade Enhancements, and Project One Façade Enhancements as described herein and the Energy Enhancement costs. Redeveloper does not have discretionary judgment over the applications of said grant funds.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following priority: FIRST PRIORITY EXPENSE: Reimburse the City Redeveloper for the cost of issuing Bond Counsel Fee for the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondAdmin. Fee, and the City’s cost to record Exhibits G, H, I, F and L. X. SECOND PRIORTY PRIORITY EXPENSE: Payment of grant or grants in the amount of approximately Three Hundred Twenty Five Thousand and No/100 Dollars ($227,500.00 325,000.00) to reimburse Redeveloper for some or all of its costs of the Project One Site AcquisitionPreparation. THIRD PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount of approximately One Hundred Eighty Seven Thousand Five Hundred and No/100 Dollars ($100,000.00 187,500.00) for costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape Intersection Improvements. Said costs are approximately $90,000 and $10,000 respectively. FOURTH PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper up to in the sum amount of approximately One Hundred Thousand and No/100 Dollars ($50,000.00 100,000.00) for Facade Enhancements. FIFTH PRIORITY EXPENSE: Payment of grants in the amount of approximately Three Hundred Twenty Seven Thousand Nine Hundred and No/100 Dollars ($327,900.00) for the costs of the Project One Façade Enhancements. Based on preliminary cost estimates, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade EnhancementsSite Acquisition. The Second First through Fourth Fifth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” ”) more particularly described on Exhibit “B”, attached and incorporated by this reference. Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs Priority Expenses incurred after the date of this Redevelopment Agreement shall be eligible for reimbursement as Redeveloper Project One Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One Façade Enhancements Priority Expenses in excess of the available Project One TIF Bond Proceeds as described aboveProceeds. The funds granted to Redeveloper are restricted and earmarked solely designated for the reimbursement of TIF eligible Project One Site Acquisitioncosts. However, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancements as described herein these projected costs are estimates and the Redeveloper does not have discretionary judgment over final figures may vary. The City agrees that the applications individual line items of said grant fundsthe TIF eligible costs may be adjusted based on final costs.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following prioritypriority in such sums not to exceed the amounts reflected below: FIRST PRIORITY EXPENSE: Reimburse the City for the cost of issuing the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF Bond, and the City’s cost to record Exhibits G, H, I, G and L. J. SECOND PRIORTY PRIORITY EXPENSE: Payment of grant or grants in the amount of $227,500.00 2,594,000.00 to reimburse Redeveloper for a portion of its costs of the Project One Site Acquisition. THIRD PRIORITY EXPENSE: Payment of a grant or grants to reimburse Redeveloper in the amount of $100,000.00 $1,000,000.00 for some or all of the costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape Improvements. Said costs are approximately $90,000 and $10,000 respectivelyPreparation. FOURTH PRIORITY EXPENSE: Payment of grant or grants in the amount of $60,000.00 to reimburse Redeveloper up to the sum for some or all of $50,000.00 for the its costs of the Project One Streetscape Improvements. FIFTH PRIORITY EXPENSE: Payment of grant or grants in the amount of $186,000.00 to reimburse Redeveloper for some or all of its costs of the Façade EnhancementsImprovements. Based on preliminary cost estimates, SIXTH PRIORITY EXPENSE: Payment of grant or grants in the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancementsamount of $450,000.00 to reimburse Redeveloper for some or all of its costs of capitalized interest (“Capitalized Interest”). The Second through Fourth Sixth Priority Expenses are (collectively the “Redeveloper Project One TIF Bond Priority Expenses.” ”) Only costs for Redeveloper Project One Site Acquisition, Project One Capitalized Interest, Site Preparation, Project One Streetscape Improvements, Improvements and Project One Façade Enhancement costs incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One Second through Sixth Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Capitalized Interest, Site Preparation, Project One Streetscape ImprovementsImprove- ments, and/or Project One Façade Enhancements in excess of the available Project One TIF Bond Proceeds as described above. The funds granted to Redeveloper are restricted and earmarked solely designated for the reimbursement of eligible Project One costs of Site Acquisition, Project One Capitalized Interest, Site Preparation, Project One Streetscape ImprovementsImprovements and Façade Enhancements. However, and Project One Façade Enhancements as described herein these projected costs are estimates and the Redeveloper does not have discretionary judgment over final figures may vary. The City agrees that the applications individual line items of said grant fundsthe eligible costs may be adjusted based on final costs.

Use of TIF Bond Proceeds. A. Use Priority of Project One TIF Bond ProceedsExpenditures. Project One TIF Bond Proceeds from the issuance of TIF Indebtedness for the Phase I Project shall be used for and expended for priority expenses (each a “Priority Expense”) in the following priority: priority in accordance with those cost estimates listed on Exhibit E except that under no circumstances shall the aggregate amount of reimbursement paid to Redeveloper from TIF Bond Proceeds for Redeveloper Priority Expenses exceed $4,225,000.00. FIRST TIF PRIORITY EXPENSE: Reimburse the City Redeveloper for the cost of issuing the Project One TIF BondAdmin. Fee, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondBond Counsel fee, and the CityRedeveloper’s cost to record Exhibits G, H, I, and L. any attached Exhibits. SECOND PRIORTY EXPENSE: Payment of grant or grants in the amount of $227,500.00 to reimburse Redeveloper for costs of the Project One Site Acquisition. THIRD TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount of $100,000.00 for costs a portion of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape ImprovementsAcquisition costs in an amount not to exceed $750,000.00. Said costs are approximately $90,000 and $10,000 respectively. FOURTH THIRD TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Site Preparation costs up to the sum $4,000,000.00. FOURTH TIF PRIORITY EXPENSE: Payment of $50,000.00 grant or grants to reimburse Redeveloper for the costs all or a portion of the Project One Right of Way Improvements costs in the amount not to exceed $300,000.00. FIFTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Utility Way Improvements costs in the amount not to exceed $169,000.00. SIXTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of the Façade Enhancements. Based on preliminary cost estimates, Enhancements Utility Way Improvements costs in the Project One TIF Bond Proceeds shall amount not fully fund the eligible Project One Façade Enhancementsto exceed $3,760,000.00. The Second through Fourth Second, Third, Fourth, Fifth and Sixth Priority Expenses Items are individually referred to as “Redeveloper TIF Priority Expense” and hereinafter referred to collectively as the “Redeveloper Project One TIF Priority Expenses.” Only Many of the costs for the Uses listed in Exhibit E are estimates and actual reimbursements will be based upon the actual design, inspection, project administration, construction, financing and implementation costs. In the event an actual Redeveloper Project One TIF Priority Expense is less than the maximum amount stated for said Redeveloper TIF Priority Expense above, then the difference may be used to fund any actual Redeveloper TIF Priority Expense(s) that is or are more than the maximum amount stated for said Redeveloper TIF Priority Expense(s) above. Except costs incurred for Site Acquisition, Project One Acquisition and Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement only costs for TIF Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One TIF Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One Façade Enhancements in excess of the available Project One TIF Bond Proceeds as described above. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancements costs of TIF Priority Expenses as described herein herein, and the Redeveloper does shall not have discretionary judgment over the applications application of said grant funds.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit B) in the following priority: FIRST TIF PRIORITY EXPENSE: Reimburse the City Redeveloper for the cost of issuing Bond Counsel Fee for the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondAdmin. Fee, and the CityRedeveloper’s cost to record Exhibits GExhibit H (Memorandum of Redevelopment Agreement). SECOND TIF PRIORITY EXPENSE: Payment of the design and construction costs incurred by the City for the Bike Trail, H, I, and L. SECOND but under no circumstances shall payments for this item exceed $300,000.00. THIRD TIF PRIORTY EXPENSE: Payment of a grant or grants in the amount of $227,500.00 393,000.00 to reimburse Redeveloper for some or all of its costs of the Project One Site Acquisitionfor Energy Enhancements. THIRD FOURTH TIF PRIORITY EXPENSE: Payment of a grant or grants to reimburse Redeveloper in the amount of $100,000.00 1,460,155.00 to reimburse Redeveloper for some or all of its costs of the Project One for Site Preparation (including demolition, grading, and alley paving) and Streetscape ImprovementsAcquisition. Said costs are approximately $90,000 and $10,000 respectively. FOURTH FIFTH TIF PRIORITY EXPENSE: Payment of a grant or grants in the amount of $1,400,000.00 to reimburse Redeveloper up to the sum for some or all of $50,000.00 for the costs of the Project One Façade Enhancements. Based on preliminary cost estimates, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancements. The Second through Fourth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” Only its costs for Redeveloper Project One Site Acquisition, Project One Preparation. Except costs incurred for Site Acquisition and Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement only costs for TIF Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One TIF Priority Expenses under this Section. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible costs of the TIF Priority Expenses, as described herein, and the Redeveloper does not have discretionary judgment over the applications of said grant funds. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site AcquisitionThird, Project One Site PreparationFourth, Project One Streetscape Improvements, and/or Project One Façade Enhancements and Fifth TIF Priority Expenses in excess of the available Project One TIF Bond Proceeds remaining after the First TIF Priority Expense as described aboveabove have been paid in full. The funds granted to Redeveloper Notwithstanding the fact that the City Bike Trail Improvements are restricted and earmarked solely designated as the Second Priority TIF Expense, Redeveloper’s payment of the $300,000 for the reimbursement Bike Tail shall be delayed until the start of eligible Project One Site Acquisitionconstruction on phase two of the New Building, Project One Site Preparationbut in no event shall said payment be delayed beyond June 1, Project One Streetscape Improvements2024, at which point it shall become immediately due and payable to the City. If the Second Priority TIF Expense is not paid by Redeveloper by phase two construction commencement, the City shall not have any obligation to make any further grant or grants to reimburse the Redeveloper for the Third, Fourth, and Project One Façade Enhancements as described herein and Fifth TIF Priority Expenses until the Redeveloper does not have discretionary judgment over the applications of said grant fundsSecond TIF Priority Expense has been paid in full.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “Priority Expense”) in the following prioritypriority for each phase of the Redevelopment Project: FIRST PRIORITY EXPENSEPRIORITY: Reimburse the City Redeveloper for the cost of issuing recording the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest Memorandum of Agreement and reserves, Use Restrictions and Payment of the Project One City’s Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF Bond, and the City’s cost to record Exhibits G, H, I, and L. Administration fee. SECOND PRIORTY EXPENSE: Payment of grant or grants in the amount of $227,500.00 to reimburse Redeveloper for costs of the Project One Site Acquisition. THIRD PRIORITY EXPENSEPRIORITY: Payment of grant or grants to reimburse Redeveloper in for all or partial costs for Site Acquisition within the amount project site up to One Hundred Ten Thousand Dollars ($110,000.00) THIRD PRIORITY: Payment of $100,000.00 a grant or grants to reimburse Redeveloper for all or partial costs of the Project One for Site Preparation (including Preparation, to include demolition, grading, and alley paving) and Streetscape Improvementsup to Twenty Thousand Dollars ($20,000.00). Said costs are approximately $90,000 and $10,000 respectively. FOURTH PRIORITY EXPENSETHIRD PRIORITY: Payment of grant or grants to reimburse Redeveloper for all or partial costs for the Right of Way Improvements within the Project Area up to the sum Twenty-Six Thousand Dollars ($26,000.00) FOURTH PRIORITY: Payment of $50,000.00 grant or grants to reimburse Redeveloper for the costs of the Project One Façade Enhancements. Based on preliminary cost estimates, the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancements. The Second through Fourth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” Only all or partial costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One Priority Expenses under this Sectionfaçade enhancements up to Twenty Two Thousand Two Dollars ($22,200.00). The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One or Façade Enhancements in excess of the available Project One TIF Bond Proceeds as described above. Redeveloper shall use its own funds to fund any Second, Third, and Fourth Priority costs that exceed the TIF Bond Proceeds that are lawfully available and granted to the Redeveloper hereunder. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One the Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, Preparation and Project One Façade Enhancements as described herein and the Enhancement costs. Redeveloper does not have discretionary judgment over the applications of said grant funds.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit C) in the following priority: FIRST TIF PRIORITY EXPENSE: Reimburse the City Redeveloper for the cost of issuing Bond Counsel Fee for the Project One TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondAdmin. Fee, and the CityRedeveloper’s cost to record Exhibits G, H, I, Exhibit F and Exhibit L. SECOND TIF PRIORTY EXPENSE: Payment of grant or grants in the amount of $227,500.00 to reimburse Redeveloper for costs the total cost of the Project One City Public Improvements. THIRD TIF PRIORTY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its costs for Site Acquisition. THIRD FOURTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount for all or a portion of $100,000.00 its costs for costs of the Project One Site Preparation (including demolition, grading, and alley paving) and Streetscape ImprovementsPreparation. Said costs are approximately $90,000 and $10,000 respectively. FOURTH FIFTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper up to the sum for all or a portion of $50,000.00 for the its costs of the Project One Façade Facade Enhancements. Based on preliminary SIXTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its cost estimates, for the Project One TIF Bond Proceeds shall not fully fund the eligible Project One Façade EnhancementsEnergy Enhancements and Green System Updates. The Second through Fourth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs TIF Priority Expenses incurred after the date of this Agreement shall be eligible for reimbursement as Redeveloper Project One TIF Priority Expenses under this Section. The funds granted to Redeveloper are restricted and earmarked solely for the reimbursement of eligible costs of the TIF Priority Expenses, as described herein, and the Redeveloper does not have discretionary judgment over the applications of said grant funds. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site AcquisitionThird, Project One Site PreparationFourth, Project One Streetscape ImprovementsFifth, and/or Project One Façade Enhancements and Sixth TIF Priority Expenses in excess of the available Project One TIF Bond Proceeds remaining after the First TIF Priority and Second TIF Priority Expenses as described aboveabove have been paid in full. The funds granted City shall not have any obligation to make a grant or grants to reimburse the Redeveloper are restricted and earmarked solely for the reimbursement of eligible Project One Site AcquisitionSixth TIF Priority Expenses until the Third, Project One Site Preparation, Project One Streetscape Improvements, Fourth and Project One Façade Enhancements Fifth TIF Priority Expenses as described herein and the Redeveloper does not above have discretionary judgment over the applications of said grant fundsbeen paid in full.

Use of TIF Bond Proceeds. A. Use of Project One TIF Bond Proceeds. Project One TIF Bond Proceeds shall be used for and expended for priority expenses (each a “TIF Priority Expense”) as summarized on the Sources and Uses of Funds for Public Improvements and Enhancements (Exhibit B) in the following priority: FIRST TIF PRIORITY EXPENSE: Reimburse the City for the cost of issuing the Project One Redeveloper TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest and reserves, the Project One Tax Increment Financing Fee in the amount of one percent (1%) of the total of the Project One TIF BondAdmin. Fee, and the CityRedeveloper’s cost to record Exhibits G, H, I, and L. any attached Exhibits. SECOND PRIORTY TIF PRIORITY EXPENSE: Payment of grant or grants in the amount of $227,500.00 to reimburse Redeveloper for costs of the Project One Site AcquisitionBond Counsel Fee. THIRD TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper in the amount of $100,000.00 for costs all or a portion of the Project Site Acquisition costs in an amount not to exceed One Site Preparation Million One Hundred Ninety Four Thousand Dollars (including demolition, grading, and alley paving) and Streetscape Improvements. Said costs are approximately $90,000 and $10,000 respectively1,194,000.00). FOURTH TIF PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper up to the sum of $50,000.00 for the costs all or a portion of the Project Site Preparation costs in an amount not to exceed One Façade Enhancements. Based on preliminary cost estimates, the Project One Hundred Twenty Eight Thousand Dollars ($128,000.00) FIFTH TIF Bond Proceeds shall not fully fund the eligible Project One Façade Enhancements. The Second through Fourth Priority Expenses are collectively the “Redeveloper Project One Priority Expenses.” Only costs for Redeveloper Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancement costs incurred after the date PRIORTY EXPENSE: Payment of this Agreement shall be eligible for reimbursement as Redeveloper Project One Priority Expenses under this Section. The City shall not have any obligation to make a grant or grants to reimburse the Redeveloper for the Project One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and/or Project One all or a portion of its costs for Landscape Improvements in an amount not to exceed Forty Thousand Dollars ($40,000.00). SIXTH TIF PRIORTY EXPENSE: Payment of grant or grants to reimburse Redeveloper for all or a portion of its costs for Façade Enhancements in excess an amount not to exceed Three Hundred Sixty Four Thousand Dollars ($364,000.00). SEVENTH TIF PRIORTY EXPENSE: Payment of the available Project grant or grants to reimburse Redeveloper for all or a portion of its costs for Energy Enhancements in an amount not to exceed One Hundred Six Thousand Dollars ($106,000.00). EIGHTH TIF Bond Proceeds as described above. The funds granted PRIORITY EXPENSE: Payment of grant or grants to reimburse Redeveloper are restricted for all or a portion of its costs for Street and earmarked solely for the reimbursement of eligible Project Sidewalk Improvements in an amount not to exceed One Site Acquisition, Project One Site Preparation, Project One Streetscape Improvements, and Project One Façade Enhancements as described herein and the Redeveloper does not have discretionary judgment over the applications of said grant fundsHundred Thirty Eight Thousand Dollars ($138,000.00).