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<br />"State" means the State of Minnesota. <br /> <br />"Targeted Return" means the Rate of Return of the Developer equal to 12% with respect <br />to the Jackson Block Commercial Project to the extent leased and not sold. <br /> <br />"Tax Increment" means that portion of the real property taxes generated by the <br />Development Property and the Minimum Improvements which is actually remitted and retained <br />by the City as tax increment under the TIF Act. <br /> <br />"Tax Increment District" means the tax increment district commonly referred to as the <br />Downtown Phase I Tax Increment Financing District No. 22, as the same is amended from time <br />to time. <br /> <br />"Tax Increment Revenue Note" or "Note" means the tax increment revenue note, in <br />substantially the form attached hereto as Exhibit E hereto to be issued by the City pursuant to the <br />provisions of Section 5.2 hereof. <br /> <br />"Tax Increment Plan" means that certain Tax Increment Financing Plan, as amended, <br />for the Tax Increment District approved by the City Council. <br /> <br />"Tax Official" means any City or County assessor; County auditor; City, County, or <br />State board of equalization; the Commissioner of Revenue of the State; or any State or Federal <br />district court, the Tax Court of the State, or the State Supreme Court. <br /> <br />"Termination Date" means the Termination Date for the Assessment A!!reements <br />which is the earlier of December 31. 2007 or the date of issuance of any Refundin!! Bonds. <br /> <br />"TIF Act" means Minnesota Statutes, Sections 469.174-469.1799, as amended, or any <br />successor statutes. <br /> <br />"Title Company" means a title company mutually acceptable to the City and the <br />Developer. <br /> <br />"Total Development Costs" means the sum of the following costs set forth on Exhibits I, <br />J and K, and specifically excludes the Parking Lot Cost (as defined in Section 5.9)H. I and J: <br /> <br />(i) Construction Costs, excluding any costs attributable to Owner Upgrades; <br /> <br />(ii) Acquisition Costs; <br /> <br />Hm Parkin!! Lot Cost: <br /> <br />@ tffit-Architectural, engineering, legal, accounting and other professional <br />services fees, including but not limited to those for surveying, appraisal, financial <br />advisory, market feasibility, environmental and geotechnical testing and correction, title, <br />marketing, management services costs, registered land survey costs and any other soft <br />costs of construction (but excluding any Developer's Overhead Costs); <br /> <br />1824344vRED V2 to VI; 10/12/05 <br /> <br />10 <br />