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E. The City is willing to contribute tax incremental funding ( "TIF ") for those uses permitted by state law and Community Development Block Grants ( "Grants ") to the renovation of the Hansel Center prior to the transfer of the Hansel Center to the University. The City has approved contributions of up to Seven Hundred Ninety -Six Thousand. Dollars ($796,000) in TIF funds for permitted TIF uses, and One Hundred Thirty -Four Thousand Dollars ($134,000) in Community Development Block Grant Funds ( "CDBG ") to be applied to the renovation of the Hansel Center. F. Vanir shall donate construction funds and professional project management services to the renovation of the Hansel Center and act as the "Owner's Representative" for the University based on the scope of services outlined in Vanir's proposal dated 9 -8 -11 attached hereto as Exhibit A, subject to and provided that the University raises funds for the remaining cost of renovation (including contingencies), and that the renovated Hansel Center is to be subsequently transferred to the University. G. The University is willing to coordinate services related to data, telecommunications, and cable requirements for the renovation of the Hansel Center, and to raise funds and provide funding for the remaining cost of the renovation after subtracting the contributions of the City and Vanir, provided that the renovated property is subsequently transferred to the University. H. Once renovations are completed, and provided that certain property tax liabilities, existing liens, and current loans secured against the Hansel Center have been discharged, the parties agree that SBHF shall transfer ownership of the Hansel Center to the University at no cost. I. The parties intend by this MOU to set forth the principal terms and related agreements to be negotiated between the parties to implement their agreement to renovate the Hansel Center so that upon completion it may be transferred to the University for: (1) use and operation in part by the Institute; (2) the provision of various artistic, cultural, secular programs and activities, as well as legal services to poor and under - represented persons in the community; and (3) the revitalization and enhanced development of the neighborhood. NOW THEREFORE, it is agreed as follows: 1. Scope of Agreement: The Recitals are incorporated herein by reference as though fully set forth. It is acknowledged and agreed by the parties that the greatest challenges to implementing the plan to renovate and transfer the Hansel Center to the University (the "Project ") will be: (a) finalizing the Project design and scope of work pursuant to applicable law and agreed upon guidelines (b) establishing a comprehensive budget with contingencies for unknown conditions, and (c) raising sufficient funds to retire all current liabilities and to fully pay for renovation of the Hansel Center. In furtherance of the Project plan, the parties will participate as follows. 2