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“Actual Cost(s)”means, with respect to the Public Improvements, the Landowner’s
<br />demonstrated, reasonable, allocable, and allowable costs of constructing such Public
<br />Improvement, as specified in a payment request in a form that has been reviewed and
<br />approved by the City and in an amount not to exceed the amount for each Public
<br />Improvement as set forth in the 2018 SAP(subject to cost overruns in Section 5.01(e)).
<br />Actual Costs may include (a) the costs incurred by or on behalf of the Landowner (either
<br />directlyorthroughaffiliates)forthedesign,planning,financing,
<br />administration/management, acquisition, installation, construction and/or implementation
<br />of such Public Improvements, (b) the fees paid for obtaining permits, licenses or other
<br />governmental approvals for such Public Improvements, (c) construction management fee,
<br />(d) the costs incurred by or on behalf of the Landowner for external professional costs, such
<br />as engineering, geotechnical, surveying, land planning, architectural landscapers,
<br />advertising, marketing and research studies, appraisals, legal, accounting and similar
<br />professional services, (e) all labor, bonds and materials, including equipment and fixtures,
<br />by contractors, builders and materialmen in connection with the acquisition, construction or
<br />implementation of the Public Improvements, (f) all related permitting and public approval
<br />expenses, architectural, engineering, and consulting fees, financing charges, taxes,
<br />governmental fees and charges, insurance premiums, and all payments for Annual Collection
<br />Costsafter the date of a resolution authorizing such reimbursement, plus interest, if any, at
<br />the lower of (x) the interest rate authorized in theAcquisition and Reimbursement
<br />Agreementor (y) the interest rate of the PID Bondscalculated from the respective dates of
<br />the expenditures until the date of reimbursement therefore.
<br />“Additional Interest”means the amounts collected by application of the Additional Interest
<br />Rate.
<br />“Additional InterestRate” means the 0.50% additional interest charged on Assessments
<br />pursuant to Section 372.018 of the PID Act.
<br />“Additional PID Bonds”means the bondsissued to fund Public Improvements (or a portion
<br />thereof)that were not funded with the Initial PID Bondsand are secured by Assessments
<br />levied on Assessed Property.
<br />“Additional Assessments”means the$10,925,000of Assessmentlevied on all Assessed
<br />Property within the PID pursuant tothe Assessment Ordinance 2018-38dated October 16,
<br />2018, as amended and restated by Ordinance 2018-__ dated December 12, 2018andlevied
<br />in accordance with Sections 372.019 and 372.020 of the PID Act..
<br />“Administrator”means an employee of the City or third party designee of the City who shall
<br />have the responsibilities provided for herein,in an Indenture relating to PID Bondsor in any
<br />other agreement approved by the City Council.
<br />“Amenity CenterSite”means that certain Trace Park/Presido Amenity Centeras depicted
<br />onAppendixC.
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