Laserfiche WebLink
. . <br /> *Residential Occupancy shall be defined as the issuance of a Certificate of Occupancy by the <br /> Building Inspector for the residential unit in the structure. <br /> C. OWNER/DEVELOPER-MUNICIPALITY SIiARES OF TIF PROCEEDS <br /> Owner/ <br /> Developer* Municipality <br /> (a) Real Esta.te: Yeazs 1-6 100% 0% <br /> Years 7-15 50% 50% <br /> (b) City Sales Tax -0% -0% <br /> (c) State Sales Tax -0% -0% <br /> * Subject to sufficiency of Estimated Redevelopment Project Costs. The <br /> reimbursement of TIF increment shall be contingent upon completion of the <br /> Fa�ade Renovation Milestone. Forty(40)percent of the share of TIF proceeds to <br /> Owner/Developer in Years 1-6 shall be paid to the TIF Administrator in <br /> exchange for discharge of CDBG allocations previously made under fa�ade <br /> agreement dated October 17, 2005 (cancelled by Owner/Developer on October 3, <br /> � 2006), until said funds previously allocated have been fully reimbursed. <br /> ELIGIBLE REDEVELOPMENT PROJECT COSTS ALLOCATED AMOUNTS ($) <br /> Land Acquisition $ -0- <br /> Site Preparation $ -�- <br /> Demolition $ -�- <br /> Planning and Engineering $ 10,000 <br /> Other Professional Fees $ -�- <br /> Street Improvements $ -�- <br /> Streetscape Improvements $ -�- <br /> Utilities $ -�- <br /> Lighting $ -0- <br /> Construction Interest $ -�- <br /> Rehabilitation Renovation/Remodelin�- $235.000 <br /> TOTAL ELIGIBLE COSTS: $245,000 <br />