Creating an Industrial Development Fund

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6. Should tax incremental financing as provided under I.C. 36- 7 -14 -25 and 36- 7 -14 -39 become available to the City or its Department of Redevelopment for reimbursement of expenses.made as provided in this agreement or prior to the expenditure of funds as provided here- in, the City and New Energy will cooperate to use any ownership structure of the site authorized by law to permit the full util- ization of tax incremental financing for the construction of the improvements described herein or reimbursement to the City through its Department of Redevelopment for said construction. It is understood by the City that New Energy will not use an ownership structure which would jeopardize its financing of the project and that any modification in ownership structure of the site can only be undertaken with the express approval of the United States Department of Energy. 7. The parties acknowledge that the City will continue to pur- sue its Urban Development Action Grant application to pay the cost of improvements on and off the site. The expenditure of funds by the City to meet its commitments herein is based on the anticipation of eventual reimbursement with Urban Development Action Grant funds. 8. The Common Council of the City by the execution of this agreement indicates its approval of the agreement and its intent to comply with the provisions of Section 2 -50(g) of the South Bend Municipal Code by the passage of an ordinance approving this agree- ment and the agreement with St. Joseph County for the construction new Maple Road. 9. The parties hereto do mutually agree to cooperate in an attempt to resolve the remaining issues not addressed in this agreement which include but are not limited to the financing of other on -site improvements contained in the City's Urban Development Action Grant application.