Common use of Predevelopment Clause in Contracts

Predevelopment. WHA shall pay predevelopment costs related to the Property development. WHA (possibly through a predevelopment loan or grant) shall provide initial working capital funds for the Project, including legal, engineering and architectural fees required to be paid prior to closing of Project’s financing, and any application fees related to financing and equity. WHA has also negotiated a closing concession from ▇▇▇▇▇▇▇▇▇ Leasing, Inc. in the amount of $15,000, to be used to support costs incurred by the City for studies conducted to support the sale and development of the property. WHA may receive reimbursement of such initial working capital funds from the construction loan closing, and or grant funding, including its costs of funds advanced for predevelopment purposes. Any pre- development financing expended by WHA may also be repaid when the Project financing closes. The City will initially cover costs of an ALTA/TOPO survey, Environmental Phase I Report, and

Predevelopment. WHA shall pay predevelopment costs related to the Property development. WHA (possibly through a predevelopment loan or grant) shall provide initial working capital funds for the Project, including legal, engineering and architectural fees required to be paid prior to closing of Project’s financing, and any application fees related to financing and equity. WHA has also negotiated a closing concession from ▇▇▇▇▇▇▇▇▇ Leasing, Inc. in the amount of $15,000, to be used to support costs incurred by the City for studies conducted to support the sale and development of the property. WHA may receive reimbursement of such initial working capital funds from the construction loan closing, and or grant funding, including its costs of funds advanced for predevelopment purposes. Any pre- pre-development financing expended by WHA may also be repaid when the Project financing closes. The City will initially cover costs of an ALTA/TOPO survey, Environmental Phase I Report, and,