(2)__The portion of the increased assessed values to be applied to the affordable housing development program as captured assessed values and resulting tax increments in each year of the program; and

(3)__A calculation of the tax shifts resulting from designation of the affordable housing development district.

4.__Limitation.__For affordable housing development districts, a municipality may expend the tax increments received for any affordable housing development program only in accordance with the financial plan.

§5249. Project costs

1.__Authorized project costs.__The director shall review proposed project costs to ensure compliance with this subsection. Authorized project costs are:

A.__Costs of improvements made within the affordable housing development district, including, but not limited to:

(1)__Capital costs, including, but not limited to:

(a)__The acquisition of land or construction of public infrastructure improvements for affordable housing development;

(b)__The demolition, alteration, remodeling, repair or reconstruction of existing buildings, structures and fixtures;

(c)__Site preparation and finishing work; and

(d)__All fees and expenses that are eligible to be included in the capital cost of such improvements, including, but not limited to, licensing and permitting expenses and planning, engineering, architectural, testing, legal and accounting expenses;

(2)__Financing costs, including, but not limited to, closing costs, issuance costs and interest paid to holders of evidences of indebtedness issued to pay for project costs and any premium paid over the principal