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I <br />Restoration within thirty-six (36) months after receipt of such permits and shall <br />substantially complete that work within twelve (12) months thereafter. <br />9. Fill Material. Section 16.12 of the PDA is deleted. <br />10. Early Completion Permitted. The notice and deadline procedures in this Fifth <br />Amendment for substantial completion of the Roundabout, the 41" Street Extension, the Main <br />Road Extension Deadline, and the Sewer Improvements are not intended to hinder the City from <br />completing such City Work prior to such notices or deadlines. The City may commence or <br />complete all or a portion of the City Work prior to such notices or deadlines. <br />11. New Markets Tax Credits. Developer acknowledges that the City has received an <br />allocation of twenty-five million dollars ($25,000,000) of New Markets Tax Credits (the <br />"Allocation"). The Memorandum of Understanding between Developer and the City dated <br />March 4, 2009, recites that it. was the parties' intention that "the bulk of [the Allocation] would <br />be used for the development of the Riverfront District." Developer expended substantial time <br />and effort and incurred significant third party costs ("Developer Costs") in connection with the <br />effort to obtain the Allocation for the City, however, because of the deadlines for use of New <br />Markets Tax Credits under applicable law, use of the Allocation for the Riverfront Project is no <br />longer feasible. Accordingly, City and Developer agree that the City may use the entire <br />Allocation for other projects, and that City shall collect from any project developer or owner who <br />receives any portion of the Allocation (each a "Recipient") a pro rata portion of the Developer <br />Costs to be reimbursed to Developer. The amount to be collected by the City from each <br />Recipient shall be the amount of the Allocation awarded to such Recipient divided by the total <br />Allocation multiplied by the Developer Costs which for the purpose of the paragraph 11. are <br />defined as $106,494.46. For example, if the Recipient receives $10,000,000 of the Allocation, <br />then the amount to be collected by the City from the Recipient and reimbursed to Developer is <br />($10,000,000/$25,000,000 x $106,494.46) or $42,597.78. <br />12. Capitalized Terms. All capitalized terms used herein and not otherwise defined <br />shall have the meaning set forth in the PDA. <br />13. Other. Except as expressly modified in this Fifth Amendment, the PDA shall <br />remain in full force and effect and the parties hereto acknowledge, confirm and ratify all of the <br />terms and conditions of the PDA. All other deadlines for work to be completed by the parties <br />shall remain unchanged as set forth in the PDA. <br />Im <br />