2009-12-07 Regular Council Session

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“Payments in Lieu of Taxes” shall have the meaning ascribed to such term in Section 99.805 of the TIF Act. “PILOTS Account” means an account of the Special Allocation Fund into which Payments in Lieu of Taxes are deposited pursuant to Section 99.845 of the TIF Act. “Project Costs” means the total amount spent or expected to be spent by the Developer to construct the Work. “Project Fund” means the Project Fund created in the Note Ordinance. “Property” means all of the real property (including, but not limited to, all options held by third parties, fee interests, leasehold interests, tenant-in-common interests and such other like or similar interests) and existing improvements in the Redevelopment Area, other than and excluding any public rights-of-way and easements that the Developer determines in its reasonable judgment are not necessary for the implementation of the Redevelopment Project and the completion of the Work. “Redevelopment Area” means, collectively, RPA-1 and RPA-2. “Redevelopment Plan” means the plan entitled “Kingsland Walk Redevelopment Plan & Project,” as approved by the City Council on December __, 2009, pursuant tothe TIF Ordinance, assuch plan may from time to time be amended in accordance with the TIF Act. “Redevelopment Project” means the RPA-1 Redevelopment Project and/or the RPA-2 Section 3.1 Redevelopment Project, as applicable pursuant to . “Redevelopment Project Costs” shall have the meaning assigned to such term in Section 99.805 of the TIF Act. “Redevelopment Proposal” means the proposal submitted by the Developer to the City on Exhibit B November 7, 2008, which is attached as and incorporated by reference herein, as amended by and subject to the provisions of the Redevelopment Plan and this Agreement. “RPA-1”means the portion of the Redevelopment Area designated as RPA-1 in the Redevelopment Plan. “RPA-1 Redevelopment Project” means the project to be constructed within RPA-1, as described in the Redevelopment Plan. “RPA-2”means the portion of the Redevelopment Area designated as Redevelopment Project Area 2 in the Redevelopment Plan. “RPA-2 Redevelopment Project” means the project to be constructed within RPA-2, as described in the Redevelopment Plan. “Reimbursable Redevelopment Project Costs” means those Redevelopment Project Costs for the RPA-1 Redevelopment Project and the RPA-2 Redevelopment Project (if the RPA-2 Redevelopment Article IVExhibit D Project is approved by the City) that are reimbursable under hereof, as described in attached hereto.