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<br />C. Redevelopment Activities <br /> <br />1. Relocation. The Authority accepts its responsibility for providing for <br />relocation pursuant to Section 469.030 of the Housing and Redevelopment <br />Authority Act. <br /> <br />Proiect. The Developer proposes to develop the Project, within the <br />Redevelopment Area. <br /> <br />D. Financing Plan <br /> <br />1. Proiect Budget. Attached hereto as Exhibit B is a budget which details <br />estimated development costs associated with the Project including but not <br />limited to the costs of acquisition of the Development Parcels. The items <br />of cost and the costs thereof shown in the budget are estimated to be <br />necessary based upon information now available. It is anticipated that the <br />items of cost and the costs thereof shown in each category in the budget <br />may decrease or increase, but that the total project cost will not exceed the <br />amount shown. <br /> <br />2. Source of Funds and Security. The City anticipates issuing tax increment <br />bonds to finance all or a portion of the Public Costs. The City may also <br />use tax increment financing on a pay-as-you-go basis for a portion of the <br />Public Costs. Sources of funds for any public improvements include rates <br />and charges, assessments, payments received from the Developer and <br />other available funds of the Authority and the City. <br /> <br />3. Bond Issue Details. The City may issue revenue bonds in an amount not <br />to exceed $20,000,000 to finance all or a portion of the land necessary for <br />the construction of the Project. General obligation tax increment bonds <br />may be issued to finance costs of any public improvements necessary for <br />the construction of the Project. <br /> <br />E. Development Standards. The Authority will consider among other things, the <br />following factors when evaluating development proposals for projects within the <br />Redevelopment Area seeking public assistance and support: <br /> <br />1. Degree to which redevelopment objectives are provided for or enhanced. <br /> <br />2. Consistency with this plan and the Comprehensive Plans. <br /> <br />F. Environment Controls. It is presently anticipated that the proposed development <br />in the Redevelopment Area will not present major environmental problems. All <br />municipal actions and public improvements will be carried out in a manner that <br />will comply with applicable environmental standards. The environmental <br />controls to be applied within the area are contained within the codes and <br />ordinances of the cities in which the Project is located. <br /> <br />3 <br />