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: 4558 Page: 491 <br /> EXHIBIT B <br /> PROJECT <br /> I. GENERAL NARRATIVE DESCRIPTION OF PROJECT—Developer will purchase <br /> the properties located at 155 S.Main St.and 150 W.Wood St.,demo the east center <br /> section of the building at 150 W.Wood St. and construct at its expense new commercial <br /> or office space,a total of five(5)new second floor apartments,or a combination of <br /> commercial,office and residential space.Developer will also continue with asbestos <br /> removal on site and complete any hazardous materials mitigation deemed necessary in the <br /> Phase II report included as Exhibit C or address said concerns through a City approved <br /> Tiered Approach to Corrective Objectives(TACO)Agreement.Project shall also include <br /> the redesign of public sidewalks and parking in the 100 block of South Church St. <br /> between Wood and Main streets as per plans included in section III.b of this agreement <br /> and repair of retaining wall deficiencies located in the public right of way west of the <br /> property located at 151 W.Wood St. <br /> II. PROJECT COSTS <br /> Property Acquisition $312,500 <br /> Demo Estimate $85,000 <br /> Church Street/sidewalk $140,000 <br /> Environmental $41,000 <br /> Construction—5 second Floor Apartments $625,000 <br /> Temporary and Permanent Parking $200,000 <br /> Church St. Sidewalk and Parking Improvements $140,000 <br /> Retaining Wall Repairs $125,000 <br /> Alley Repairs $37,000 <br /> Total $1,705,500 <br /> Previous Expenditures(West Main St.Build outs, <br /> West Main St.facades,132 S.Church St.Build outs) $560,000 <br /> Total Project Cost $2,265,500 <br /> i <br />