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. ' �� ; !� �, $ PG � 03 <br /> Tax increment allocations under this Agreement shall continue until all Eligible Redevelopment Project <br /> Costs related to the Development Project are paid or for 15 years, whichever comes first. The payment of <br /> any Note and/or EligibleRedevelopmentProject Costs is subject to the availability of IncrementalTaxes. <br /> D. INCREMENTAL TAXES <br /> (1)INCREMENTAL TAXES <br /> City Percentage . . . . . . . . . . . . . . . . . . Years 1-5 60% <br /> Years 6-15 50% <br /> Special Account Percentage . . . . . . . . Years 1-5 40% <br /> Years 6-15 50% <br /> Total: 100% <br /> (2) REAL ESTATE INCREMENTAL TAXES <br /> ProjectedTotal NEW Equalized <br /> Assessed Valuation $ 333,000 <br /> Less:IrIITIAL EqualizedAssessed Valuation $ 70,315 _ <br /> ProjectedIncrementalincreaseinEAV $ 262,685 <br /> ProjectedAnnual Real Estate IncrementalTalces $ 23.142 <br /> E. DEVELOPMENT AREA <br /> (1) DEVELOPER'S INTEREST IN DEVELOPMENT AREA: <br /> (if other than fee ownership, describe and attach lease or other applicable Document): <br /> Fee Simple <br /> (2) DEVELOPMENT AREA: <br /> Street Address: 101 East Prairie Avenue <br /> Legal Description: See attachment mazked EXHIBIT B <br /> F. OTHER FUNDING ALLOCATIONS <br /> The Municipality shall make available CDBG funds for fa ade restoration in the amount of <br /> � <br /> $120,000, subject to appropriation by the U.S. Department of Housing and Urban Development. <br /> The <br /> terms for use f <br /> o the CDBG funds includin matchin <br /> , g g funds appropriated by the <br /> Owner/Developer,shall be in accordance with the terms of the approved fa�ade agreement. <br /> G. FA�ADE EASEMENT <br />