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H.The Parties intend that LRC financing assistance for the construction of the <br />Project be limited to certain Property Tax TIF revenueavailable to the LRC after payment of any <br />amounts required to be paid pursuant to the 2011 Cooperation Agreement and Tri-Party <br />Agreement, and amounts the LRC may reasonably require for ongoing operating, administrative, <br />consulting and other costs (LRC Operating Expenses). <br />AGREEMENT <br />NOW THEREFORE, in consideration of the foregoing and the following terms and <br />conditions, the Parties agree as follows: <br />1. Construction of Project. The City will construct the Project with its funds through <br />the City Capital Projects Fund budget. The Parties shall cooperate to take any and all reasonable <br />steps necessary to finance, design and construct the Project. The construction will be complete <br />December 31, 2015. <br />2.LRC Financial Assistance.a. Commencing with fiscal year 2015, and in <br />accordance with Section 31-25-107(9)(a)(II) of the Act, the LRC shall establish a special fund <br />(the Special Fund) and deposit therein all Property Tax TIF revenue from the Plan Area upon <br />receipt from the Treasurer of Boulder County, except for such amounts as the LRC may <br />reasonably require for payment of obligations under the 2011 Cooperation Agreement and the <br />Tri-Party Agreement and payment of LRC Operating Expenses(Pledged Revenue), subject to the <br />limitations set forth in Section 2.c., below. <br />b.It is the intention of the Parties that Pledged Revenue shall be used and expended <br />for the Project according to the payment schedule set forth below. The Pledged Revenue <br />available for the Project shall be annually or periodically transferred from the Special Fund to the <br />City Capital Projects Fund at suchtime(s)as shall be determined by the City Finance Director. <br />c. Notwithstanding any provisions of this Agreement to the contrary, the Parties <br />agree: <br />(i)That Pledged Revenue payments in the following years shall be limited to <br />no more than the following amounts: <br /> Budget YearPayment <br /> 2015 $45,000 <br /> 2016 $65,000 <br /> 2017 $75,000 <br /> 2018 – 2033 25% of all Property Tax TIF remaining <br />after payment of other obligations <br />(ii)That, subject to Section 2.d below, the total of all payments made <br />according to this Section is limited to $1,300,000 or until the Urban <br />7 <br /> <br />