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Book : 3758 �age : 122 <br /> B. TIMETABLE <br /> Commence Construction 03/31/07 <br /> Complete Construction 07/25/08 <br /> Opening 09/OS/08 <br /> C. OWNER/DEVELOPER-MUNICIPALITY SHARES OF TIF PROCEEDS <br /> Owner/ <br /> Developer* Municipality <br /> (a) Real Estate 75% 25% <br /> (b) City Sales Tax 50% � 50% <br /> (c) State Sales Tax 50% 50% <br /> * Subject to sufficiency of Estimated Redevelopment Project Costs. <br /> ELIGIBLE REDEVELOPMENT PROJECT COSTS ALLOCATED AMOUNTS ($) <br /> Land Acquisition $� <br /> Site Preparation $500,000 <br /> Demolition $� <br /> Planning and Engineering $550,000 <br /> Other Professional Fees (Accounting/Legal) $100,000 <br /> Street Improvements �� <br /> Streetscape Improvements $95,000 <br /> Utilities $100,000 <br /> Lighting $40,000 <br /> Construction Interest $1,000,000 <br /> 30%Mortgage Interest $2,000,000 <br /> Relocation Costs $50,000 <br /> Job Training& Retraining $65,000 <br /> Rehabilitation Renovation/Remodeling- $0 <br /> TOTAL: $4,500,000 <br /> Tax increment allocations under this Agreement shall continue until any Note and/or all Eligible <br /> Redevelopment Project Costs related to the Development Project are paid or for maximum term <br /> permitted by law at the time of its adoption or any extension permitted by law hereafter, <br /> whichever comes first. The payment of any Note and/or Eligible Redevelopment Project Costs is subject <br /> to the availability of Incremental Taxes. No Interest Subsidy payments shall be made which any Note is <br /> outstanding and unpaid. <br /> RnL�c zoo�o9z��i 24 <br />