Page:United States Statutes at Large Volume 100 Part 3.djvu/339

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2147

(A) IN GENERAL.—The amendments made by section 201 shall not apply to any property which is an integral part of any qualified urban renovation project. (B) QUALIFIED URBAN RENOVATION PROJECT.—For purposes of subparagraph (A), the term "qualified urban renovation project" means any project— (i) described in subparagraph (C), (D), (E), or (G) which before March 1, 1986, was publicly announced by a political subdivision of a State for a renovation of an urban area within its jurisdiction, (ii) described in subparagraph (C), (D) or (G) which before March 1, 1986, was identified as a single unitary project in the internal financing plans of the primary developer of the project, and (iii) described in subparagraph (C) or (D), which is not substantially modified on or after March 1, 1986. (C) PROJECT WHERE AGREEMENT O N DECEMBER 1 9, I 9 8 4. — A

project is described in this subparagraph if— (i) a political subdivision granted on July 11, 1985, development rights to the primary developer-purchaser of such project, and (ii) such project was the subject of a development agreement between a political subdivision and a bridge authority on December 19, 1984. For purposes of this subparagraph, subsection (b)(2) shall be applied by substituting "January 1, 1994" for "January 1, 1991". (D) CERTAIN ADDITIONAL PROJECTS.—A project is described

in this subparagraph if it is described in any of the following clauses of this subparagraph and the primary developer of all such projects is the same person: (i) A project is described in this clause if the development agreement with respect thereto was entered into during April 1984 and the estimated cost of the project is approximately $194,000,000. (ii) A project is described in this clause if the development agreement with respect thereto was entered into during May 1984 and the estimated cost of the project is approximately $190,000,000. (iii) A project is described in this clause if the project has an estimated cost of approximately $92,000,000 and at least $7,000,000 was spent before September 26, 1985, with respect to such project. (iv) A project is described in this clause if the estimated project cost is approximately $39,000,000 and at least $2,000,000 of construction cost for such project were incurred before September 26, 1985. (v) A project is described in this clause if the development agreement with respect thereto was entered into before September 26, 1985, and the estimated cost of the project is approximately $150,000,000. (vi) A project is described in this clause if the board of directors of the primary developer approved such project in December 1982, and the estimated cost of such project is approximately $107,000,000. (vii) A project is described in this clause if the board of directors of the primary developer approved such

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