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January 28, 2013 — LRC Direction for Staff for providing infrastructure in the <br />Highway 42 Revitalization Area <br />#1 - The LRC is willing to pay for the following public infrastructure improvements; <br />• Construction of new streets and sidewalks <br />o Cannon from South to Griffith <br />o South from Cannon to Highway 42 <br />o Short from Cannon to Highway 42 <br />• New water utilities within the following streets; <br />o Cannon Street from Lafayette to South <br />o South Street From BNSF to Highway 42 <br />• New storm water utilities within the following corridors; <br />o Lafayette from BNSF to Highway 42 <br />o Cannon from Griffith to Lafayette <br />• New sanitary sewer utilities within the following streets; <br />o Lafayette from BNSF to Short <br />o Short from Cannon to Highway 42 <br />• Normal landscaping improvements along streets <br />• Street lighting, earthwork, traffic control, surveying, project management, <br />contingency <br />#2 - The LRC is willing borrow the funds needed for the public infrastructure from <br />investors found by DELO, LLC. <br />#3 - The debt issued for the public infrastructure will be paid through Tax Increment <br />Financing (TIF) revenues generated from the properties located within the boundaries of <br />Highway 42, South Street, the BNSF Railroad, and Griffith Street less prior TIF <br />commitments (County IGA, City IGA, Gateway IGA) made by the LRC. <br />#4 - LRC staff will prepare a term sheet outlining the financial components of the <br />borrowing with DELO, LLC <br />