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. . �� _i � � � FG4 � Z <br /> ResidentialOccupancy* June 1, 2010 <br /> The City Manager may extend the fa�ade renovation milestone in the event of delayed or unavailable <br /> Community Development Block Grant (CDBG) funds, inclement weather or other delays deemed beyond <br /> the develope�'s control. <br /> *Residential Occupancy shall be defined as the issuance of a Certificate of Occupancy by the Building <br /> Inspector for the four residential units in the structure. <br /> C. OWNER/DEVELOPER-MUNICIPALITY SHARES OF TIF PROCEEDS <br /> Owner/ <br /> Developei* Municipality <br /> (a) Real Estate: Years 1-5 60% 40% <br /> Yeats 6-15 50% 50% <br /> (b) City Sales Tax -0-% -0-% <br /> (c) State Sales Taac -0-% -0-% <br /> * Subject to sufficiency of Estimated Redevelopment Project Costs. The reimbursement of I <br /> TIF incrementshall be contingentupon completionof the Fa�ade RenovationMilestone. ' <br /> ELIGIBLE REDEVELOPMENT PROJECT COSTS ALLOCATED AMOUNTS ($1 I <br /> Land Acquisition $ _p_ <br /> Site Preparation $ _p_ <br /> Demolition $ _p_ <br /> Planning and Engineering $ 10,000 <br /> Other Professional Fees $ _p_ <br /> Street Improvements $ _p_ <br /> Streetscape Improvements $ _p_ <br /> Utilities $ _p_ <br /> Lighting $ _p_ <br /> Construction Interest $ _p_ <br /> RehabilitationRenovation/Remodelin� - $ 165 000 <br /> TOTAL ELIGIBLE COSTS: $ 175,000 _ <br />