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I, <br /> Taac 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 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 Taxes. No Interest Subsidy payments 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 $ 133,333. ' <br /> Less: INITIAL 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 I! <br /> (1) DEVELOPER'S INTEREST IN DEVELOPMENT AREA: ' <br /> (if other than fee ownership, describe I <br /> and attach lease or other applicable !i <br /> document): A�reement to Purchase ' <br /> 2 DEVELOPMENT AREA: <br /> � ) <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 I <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 />