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G..ESTIMATE OF COSTS <br /> <br />The estimate of public costs associated with District No. 16 are outlined in the following line item <br />budget: <br /> <br /> Estimate of Public Costs <br /> 25 yr., 6% <br />Semi-annual income stream = $22,769 (see Exhibit B) <br /> <br />Qualified Costs: <br /> <br />Principal Interest <br /> <br />Land Acquisition <br />Demolition <br />Public Improvements <br />Other Development Costs <br />Administration <br /> <br />$410,000 $330,678 $740,678 <br />$ 30,000 $ 24,196 $ 54,196 <br />$ 50,000 $ 40,327 $ 90,327 <br />$ 10,000 $ 8,065 $ 18,065 <br />$ 50,000 $ 40,327 $ 90,327 <br /> <br />Total: $550,000 $443,593 $993,593 <br /> <br />The City or Authority reserve the right to modify actual line item dollar amounts at any time <br />throughout the duration of the District, as long as it does not change the Total as indicated above. <br /> <br />Capitalized interest and other interest payments on tax increment bonds and obligations are also <br />considered to be public costs in addition to the above referenced estimate of public costs. Interest <br />payments and capitalized interest will be determined at the time of issuance of the bonds and <br />obligations and are dependent on interest rates in effect at such time. In addition to above <br />mentioned costs, administration costs to cover city staff and overhead and various consulting fees <br />in an amount not to exceed 10% of total tax increment will be funded with tax increments from <br />District No. 16. <br /> <br />Any funds to be expended outside the boundaries of District No. 16, but within the boundaries of <br />Development District No. 1, will be less than 25 percent of total tax increment generated by <br />District No. 16, including administrative costs. Subject to that limitation, and the limitations as <br />described in Section R., the tax increment from District No. 16 may be used to pay for public costs <br />outlined in the Development Program for Development District No. 1 (whether or not such <br />expenditures exceed the total budget for this plan identified above). <br /> <br />H. .ESTIMATED AMOUNT OF LOAN/BONDED INDEBTEDNESS <br /> <br />The City or Authority have the ability to issue a revenue bond, general obligation bond, or other <br />type of obligation in one or more series for a maximum amount of $500,000 to finance any or all of <br />the Total Estimated Public Costs authorized to be paid under Section G of this Plan. <br /> <br />Tax Increment Financing District No. 16 <br /> Page 1I-4 <br /> <br /> <br />