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<br />~. -. <br />D. Construction of Proj ects. The Authority may construct infrastructure, buy equipment <br />and supplies, and deal in real estate as necessary to implement the Plans and as permitted by the <br />TIRZ Act and the PID Act: <br />1. To the extent funds aze available, the Authority may design and construct <br />Projects identified in the Plans that meet the qualifications of the TIRZ Act and the PID Act as <br />applicable; and <br />2. To the extent funds are available, the Authority may buy, sell, lease and <br />otherwise deal in real estate within the Zone. <br />E. Subcontractors. The Authority may provide the services required by this Agreement <br />through staff, subcontractors, and/or consultants subject to the conditions of this Agreement. <br />III. <br />OBLIGATIONS OF THE AUTHORITY <br />A. General Statement. The Authority has the authority to enter into Authority <br />Obligations with Developers and enter into contracts with consultants and others to be paid from <br />moneys to be paid by the City and the Zone to the Authority from Tax Increments and PID <br />Assessments pursuant to this Agreement, and further, the Authority may issue Bonds with the <br />consent of the City Council; provided that nothing in this Agreement shall be construed to authorize <br />the Authority to expend any of the Tax Increment funds received pursuant to this Agreement for any <br />costs other than Project Costs or expand PID Assessments for any cost other than costs authorized <br />under the PID Plan. <br />B. Power to Incur Authori ,~ Obligations. Subject to the provisions of this Article, the <br />Authority shall have the power from time to time to issue and incur Authority Obligations and enter <br />into contracts with consultants upon such terms and conditions as the Authority Board and the Zone <br />Boazd shall determine to be necessary or desirable to implement the Plans. The Authority <br />Obligations maybe in the form of a Development Agreement with the Developer of a Development <br />who agrees to construct, improvements or other facilities included in the Plans in exchange for the <br />obligation of the Authority to repay the Developer for such costs from future payments made by the <br />City and the Zone to the Authority pursuant to this Agreement. All Development Agreements shall <br />specify which Plan pursuant to which it is entered, and shall provide that (i) the Authority will not <br />reimburse any Developer for any Project that is determined to be an ineligible Project Cost under the <br />TIRZ Act, or an ineligible PID Project under the PID Act, as applicable; and (ii) the Developer shall <br />repay the Authority for any payment made by the Authority to the Developer that is determined to be <br />ineligible. <br />HousWn:367966.2 7 <br />