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commonly known as Martin Hall to provide for, among other improvements, additional <br />classrooms, common rooms and office space; (iii) improvements to roads, walkways, parking <br />lots and other educational facilities on the same site, including site improvements and <br />landscaping; and (iv) water retention improvements (collectively, the "2005 Project"), all of <br />which are to be located on the Borrower's approximately thirty-two (32) acre site at 3123 Miami <br />Street in the City (the "Site") and (b}(i) the rebuilding of the educational facility on the Site <br />commonly known as the Lower School to provide for up-to-date technology and amenities; (ii) <br />the construction of a fine arts center and an improved media center on the Site which may <br />include an auditorium, additional fine arts and music classrooms and improved media equipment <br />and technology; and (iii) the relocation and construction of athletic fields or facilities on the Site <br />or on an approximately four (4) acre site located on the northeast corner of High Street and <br />Donmoyer Avenue, near and including 744 Donmoyer Avenue and the property across from the <br />Site on High Street (collectively, the "Additional Projects" and with the 2005 Project, the <br />"Projects"); and <br />WHEREAS, the Projects are expected to cost approximately Fifteen Million <br />Dollars ($15,000,000), with the 2005 Project expecting to cost approximately Five Million <br />Dollars ($5,000,000); and <br />WHEREAS, the Borrower has completed and submitted to the Commission an <br />application requesting the use of economic development revenue bond financing, which the <br />Commission has received and reviewed; and <br />WHEREAS, the Borrower has proposed that the City issue and sell its economic <br />development revenue bonds in one (1) or more series in a combined aggregate principal amount <br />BDDBOI 4176671 v2 - 2 - <br />