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EXHIBIT 2 <br /> A.PROJECT COSTS <br /> Land Acquisition $75,000 <br /> Public Improvements/Infrastructure $0 <br /> New Construction $1,900,000 <br /> Planning,Legal,Development&Architectural Fees $75,000 <br /> Construction Interest&Loan Fee $47,208 <br /> TOTAL PROJECT COSTS $2,097,208.00 <br /> B. INCENTIVES <br /> The City will provide a reimbursement for Project Costs to be paid from ProjectRevenuesfor each <br /> calendar year received by the City from the Project and the Project Site as set forth below: <br /> (A) Commencing in the year following the year in which the redeveloper shall open an Ashley <br /> Furniture on the project site and continuing for five years after redeveloper opens tTch business on the <br /> property,the Redeveloper shall receive an amount equal to Eighty(80%)Percent of the Project Revenues <br /> for the previous calendar year actually received by the City. <br /> (B) The obligation for the annual reimbursement of Project Costs shall teripinate five (5) years <br /> after redeveloper opens an Ashley Furniture for business. If Redeveloper does not i open for business a <br /> retail furniture store under the name "Ashley Furniture" on the Project Site by one (R)year after closing <br /> on the purchase of land encompassed by the Project more fully described on Exhibit l attached hereto and <br /> by reference made a part hereof(the "Project"), then Redeveloper shall promptly Convey the property <br /> back to the City of Decatur and this agreement shall be terminated. <br /> I <br /> DRAFT-City of Decatur/Harrison Management Group LLC Redevelopment Agreement 27 <br /> I <br />