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anticipated that the City will utilize other City resources as well as state and federal grants, <br /> if available, to assist in paying for these costs. <br /> Without excluding other methods of City financing, the principal source of funding will be those <br /> deposits made into the Special Tax Allocation Fund of monies received from the taxes on the <br /> increased value (above the initial equalized assessed value) of real property in the Area. These <br /> monies may be used to repay private or public sources for the expenditure of funds made as <br /> Redevelopment Project Costs for applicable public or private redevelopment activities noted <br /> above, or may be used to amortize Tax Increment Revenue obligations, issued pursuant to this <br /> Redevelopment Plan, for a term not to exceed 20 years bearing an annual interest rate as <br /> permitted by law. The tax increment utilization for repayment will not exceed twenty (20) years. <br /> Revenues received in excess of 100% of funds necessary for the payment of principal and <br /> interest on the bonds and not needed for other redevelopment project costs or early bond <br /> retirements will be declared as surplus and become available for distribution annually to the <br /> taxing bodies to the extent that this distribution of surplus does not impair the financial viability <br /> of the project. One or more bond issues may be sold at any time in order to implement this <br /> Redevelopment Plan. <br /> The estimated date for the completion of the Redevelopment Plan is no later than 23 years from the <br /> date of adoption of the Redevelopment Plan by the City. <br /> Since the Area does not contain over seventy-five (75) residential units nor will it result in the <br /> displacement of ten (10) or more inhabited residential units, no Housing Impact Study is required <br /> pursuant to Section 3 of the Act. <br />