in and antidisplacement activities within or outside a tax
increment district for the elimination and prevention of the
development or spread of blight, which may include property
acquisition, clearance, redevelopment, rehabilitation or
conservation in or, in the case of antidisplacement activities,
within or outside a tax increment district, or a combination or
part thereof in accordance with a project plan.
"Project costs." Any expenditures made or estimated to be
made or monetary obligations incurred or estimated to be
incurred which are listed in a project plan as costs of public
works or improvements or residential, commercial or industrial
development or revitalization within or antidisplacement
activities within or outside a tax increment district, plus any
costs incidental thereto. Project costs include, but are not
limited to:
(1) Capital costs, including the actual costs of the
construction of public works or improvements or residential,
commercial or industrial development or revitalization, new
buildings, structures and fixtures; the demolition,
alteration, remodeling, repair or reconstruction of existing
buildings, structures and fixtures; the acquisition, upgrade
or rehabilitation of machinery and equipment; and the
acquisition, clearing and grading of land. Capital costs also
include the actual cost of the construction, rehabilitation
or repair of publicly owned infrastructure improvements
located outside the boundaries of a tax increment district
which are of direct benefit to a project.
(2) Financing costs, including all costs of issuance of
tax increment bonds or notes, reserve funds for tax increment
bonds or notes, all interest paid to holders of evidences of
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