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G'S <br /> ae <br /> Cn 6. Financing costs, including but not limited to, all necessary and incidental <br /> ieu i expenses related to the issuance of obligations, and which may include <br /> payment of interest on any obligations issued thereunder accruing during the <br /> estimated period of construction of any redevelopment project for which such <br /> obligations are issued and for not exceeding thirty-six (36) months thereafter, <br /> and including reasonable reserves related thereto. <br /> 0 7. All or a portion of a taxing district's costs resulting from the redevelopment <br /> 0 project necessarily incurred or to be incurred (consistent with statutory <br /> requirements) in furtherance of the objectives of the redevelopment plan and <br /> project, to the extent the municipality by written agreement accepts and <br /> approves such costs. <br /> 8. Relocation costs to the extent that a municipality determines that relocation <br /> costs shall be paid or is required to make payment of relocation costs by <br /> federal or state law. <br /> 9. Payments in lieu of taxes. <br /> 10. Interest cost incurred by a redeveloper related to the construction, renovation <br /> or rehabilitation of a redevelopment project provided that: <br /> (A) such costs are to be paid directly from the special tax allocation fund <br /> established pursuant to this Act; and <br /> (B) such payments in any one year may not exceed 30% of the annual <br /> interest costs incurred by the redeveloper with regard to the <br /> redevelopment project during that year; <br /> (C) if there are not sufficient funds available in the special tax allocation fund <br /> to make the payment pursuant to this paragraph then the amounts so due <br /> shall accrue and be payable when sufficient funds are available in the <br /> special tax allocation fund; and <br /> (D) the total of such interest payments paid pursuant to this Act may not <br /> exceed 30% of the total (i) cost paid or incurred by the redeveloper for the <br /> redevelopment project plus (ii) redevelopment project costs excluding any <br /> property assembly costs and any relocation costs incurred by a <br /> municipality pursuant to this Act. <br /> C. Most Recent Equalized Assessed Valuation <br /> The most recent total equalized assessed valuation for the Area has been estimated by the City at <br /> approximately$327,844 (see Exhibit E). This figure will be verified by the County Clerk. <br /> 27 <br />