Redevelopment Commission Agenda & Packet 12.18.25 - Final

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2 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows: ARTICLE I. DEFINITIONS The capitalized words and phrases used in this Agreement shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of such words and phrases): “Act” shall mean, collectively, Indiana Code 36-7-11.9 and 12. “Allocation Area” shall mean that portion of the Area, as further described on Exhibit E to be separately designated by the City Bodies under Indiana Code 36-7-14-39 as a new allocation area for the purpose of the allocation and distribution of property taxes on real property to be used in the manner provided in Indiana Code 36-7-14-39, which shall be known as the “Lafayette North Allocation Area.” “Ancillary Agreements” shall mean all instruments and agreements to be entered into by the Developer referenced or contemplated herein, including, without limitation, the Loan or Financing Agreement and the Taxpayer Agreement related to the Bonds. “Bond Counsel” shall mean Barnes & Thornburg LLP. “Bond Proceeds” shall mean the proceeds of the Bonds in the estimated aggregate principal amount of Thirty Million Eight Hundred Thousand Dollars ($30,800,000), with the final aggregate principal amount to be determined by the City Bodies with the advice of the City’s municipal advisor based on the amount of Projected Pledged TIF Revenues and Projected Pledged IDD Revenues available for such purposes, to be loaned or provided to the Developer for application to the Project Costs, as more specifically set forth in the Loan or Financing Agreement. “Bonds” shall mean one or more series of taxable economic development revenue bonds issued by the City pursuant to the Act and payable from the Pledged TIF Revenues and the Pledged IDD Revenues, the proceeds of which shall be applied to the Project Costs. “Claims” shall mean claims, liabilities, damages, injuries, losses, liens, costs, and/or expenses (including, without limitation, reasonable attorneys’ fees); provided that in no event shall Claims include consequential or punitive damages. “Closing” shall mean the closing with respect to the Bonds which shall not be earlier than the closing for the Project Loan. “Closing Date” shall mean the date of the Closing. “Completion Date” shall mean any date not being later than January 1, 2029. “Common Council” shall mean the Common Council of the City.