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. , <br /> Tax increment allocations under this Agreement shall continue until any Note and/or all Eligible <br /> Redevelopment Proj ect Costs related to the Development Proj ect are paid or for sixteen (16) years, <br /> whichever comes first. The payment of any Note and/or Eligible Redevelopment Project Costs is subject <br /> to the availability of Incremental Ta�ces. No Interest Subsidy payrnents shall be made which any Note is <br /> outstanding and unpaid. <br /> TOTAL ELIGIBLE COSTS $ 82,500. <br /> D. INCREMENTAL TAXES <br /> (1)INCREMENTAL TAXES <br /> City Percentage . . . . . . . . . . . . . . . . . . 50 % <br /> Special Account Percentage . . . . . . . . 50% <br /> Total: 100% <br /> (2) REAL ESTATE INCREMENTAL TAXES <br /> Projected Total NEW Equalized <br /> Assessed Valuation $ 133333. <br /> Less: INTTIAL Equalized Assessed Valuation $ 10.802. <br /> Projected Incremental increase in EAV $ 122.531. <br /> Projected Annual Real Estate Incremental Taxes $ 10,619. <br /> E. DEVELOPMENT AREA <br /> (1) DEVELOPER'S INTEREST IN DEVELOPMENT AREA: <br /> (if other than fee ownership,describe <br /> and attach lease or other applicable <br /> document): A�reement to Purchase <br /> (2) DEVELOPMENT AREA: <br /> Street Address: 133-135 East Prairie Avenue <br /> Legal Description: Lot One(1)of the Assessor's Resurvey of Lots 1,2, 3,4, & 8 in <br /> Block Two(2)of the Original Town of Decatur, as per Plat recorded in Book A, <br /> Page 1 of the Records in the Recorder's Office of Macon County,Illinois. <br /> 13 <br /> - - - -- -_ „� _ .�. __. <br />