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The City Manager may extend the farade renovation milestone in the event of inclement weather <br /> or other delays deemed beyond the developer's control. <br /> *Residential Occupancy shall be defined as the issuance of a Certificate of Occupancy by the <br /> Building Inspector for the residential units in the structure. <br /> C. OWNER/DEVELOPER-MUNICIPALITY SHARES OF TIF PROCEEDS <br /> Owner/ <br /> Developer* Municipality <br /> (a) Real Estate: Years 1-6 100% 0% <br /> Years 7-15 50% 50% <br /> (b) Ciry 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 /> a reement dated October 17 2005 cancelled b Owner/Develo er on October 3 <br /> g > � Y P , <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 $ -p- <br /> Demolition $ -p- <br /> Planning and Engineering $ 10,000 <br /> Other Professional Fees $ -0- <br /> Street Improvements $ -0- <br /> Streetscape Improvements $ -0- <br /> Utilities $ -p- <br /> Lighting $ _p_ <br /> Construction Interest $ -0- <br /> Rehabilitation Renovation/Remodeling- $ 235 000 <br /> TOTAL ELIGIBLE COSTS: $245,000 <br />