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Guaranties - Corporate and personal guarantees providing added security for the delivery of the <br />project and specifically full repayment of the purchase price note. This also includes a mortgage on the <br />land sale. <br />Financial Impact <br />The TIF No. 29 plan allows for up to $2,009,000 in tax increment proceeds to be utilized for this project, <br />including $1,378,000 in land costs, plus interest, site development, and city administration costs. This <br />agreement allows TIF funds to be utilized towards the land and interest costs. <br />Mission/Policy/Goal <br />Promote Commercial and Industrial Development <br />Attachments <br />I. Resolution - Heritage Business Assistance Agreement <br />2. Heritage Development Agreement <br />Page 290 of 372 <br />