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F. PROPERTY TO BE ACQUIRED <br /> The Authority may acquire all parcels within District No. 18. <br /> G. ESTIMATE OF PUBLIC COSTS - USE OF FUNDS <br /> The estimated use of funds associated with District No. 18 are outlined in the following line item <br /> budget: <br /> USE OF FUNDS TOTAL <br /> Qualified Costs: <br /> Land Acquisition $ 40,000 <br /> Site Improvements $ 310,000 <br /> Public Improvements (includes local contribution) $ 180,000 <br /> Interest $ 150,000 <br /> Administration (up to 10%) $ 68,000 <br /> TOTAL: $ 748,000 <br /> $310,000-Site Improvements <br /> This estimate includes the site purchase and all costs associated with improving the condition of the <br /> site in order to allow construction of the facility, i.e.; the site contains a significant amount of poor <br /> quality soil which will be excavated and replaced with appropriate grade materials. <br /> $180,000- Public Improvements <br /> This estimate includes the cost of construction of a fully signalized intersection at 171" and <br /> Highway 10 and a controlled railroad crossing on 17151 in order to accommodate additional semi- <br /> truck movement in the amount of approximately 60 per day as a direct result of the project planned <br /> in Tax Increment District No. 18. <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 /> 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. 18. <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 /> Tax Increment Financing District No.18 Page II-4 <br />