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G. ESTIMATE OF PUBLIC COSTS- USE OF FUNDS <br /> <br />The estimated use of funds associated with District No. 17 are outlined in the following line item <br />budget: <br /> <br />USE OF FUNDS TOTAL <br /> <br />Qualified Costs: <br /> <br />Land Acquisition <br />Site Improvements <br />Public Improvements <br />Other Development Costs <br />Interest <br />Administration (up to 10%) <br /> <br />$ 0 <br />$160,000 <br />$ 0 <br />$ 20,0O0 <br />$ 0 <br />$ 20,000 <br /> <br />TOTAL: $ 200,000 <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. 17. <br /> <br />This provision does not obligate the City or Authority to incur debt. The City or Authority will issue <br />bonds only upon determination that such action is in the best interest of the City. The City or <br />Authority may also finance the activities to be undertaken pursuant to the Tax Increment Financing <br />Plan through loans from funds of the City or Authority or to reimburse the developer on a "pay-as- <br />you-go" basis for eligible activities paid for by the developer. <br /> <br />Any funds to be expended outside the boundaries of District No. 17, but within the boundaries of <br />Development District No. 1, will be less than 20 percent of total tax increment generated by <br />District No. 17, including administrative costs. Subject to that limitation, and the limitations as <br />described in Section R., the tax increment from District No. 1 7 may be used to pay for public costs <br />outlined in the Development Program for Development District No. 1 (subject to the limitations as <br />described in this Plan). <br /> <br />Tax Increment Financing District No. 17 Page II-4 <br /> <br /> <br />