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H L RS <br /> ■ PUBLIC FINANCE ADVISORS <br /> As noted, under either scenario, the City will have future TIF dollars available to pay for the additional $4 <br /> million in road improvements within the COR. Any dollars available after that expenditure are available to go <br /> back to the City to reimburse them for the remaining $37.248 million in costs. <br /> Special Legislation in 2024 <br /> Some of the City costs noted in the chart above were funded without the required interfund loan resolutions <br /> pursuant to the TIF statute. It was assumed that the transit station and some of the other public improvements <br /> were allowable expenditures since they were specifically called out in the legislation, however the legislation <br /> did not exempt the City form the interfund loan requirement. <br /> TIF counsel recommends that you amend the special legislation to request that those costs (approximately <br /> $10.7 million) are exempt from the interfund loan requirement and thus, you can reimburse yourself with TIF (if <br /> available). Without the legislation, only $26.5 million of the $37.248 million in City costs could be recovered. <br /> Please contact me at 651-697-8506 with any questions. <br /> BUILDING COMMUNITIES. IT'S WHAT WE DO. � info@ehlers-inc.com 1 (800)552-1171 ® www.ehiers-inc.com <br />