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EXHIBIT L <br />FORM OF PUBLIC BENEFITS REPORT <br />Pursuant to Section 11(a)(xii) (Conditions Precedent – Conditions Precedent to Effectiveness) and <br />Section 16(e) (Reporting Requirements – Public Benefits Report) of the WIFIA Loan Agreement, <br />the City of North Miami Beach (the “Borrower”) is providing this Public Benefits Report in <br />connection with the Norwood Water Treatment Plant Upgrade and Transmission Main <br />Improvements and Replacements Project (WIFIA – N18118FL): <br />(i) The estimated interest savings the Borrower is realizing through the use of the WIFIA <br />Loan compared to comparable market rate financing: <br />The estimated interest savings from using the WIFIA Loan compared to a comparable <br />market rate financing is $\[__\] million on a gross savings basis. <br />(ii) With respect to the report delivered \[prior to the Effective Date\]\[within ninety (90) <br />days following the Substantial Completion Date\]\[within ninety (90) following the fifth <br />anniversary of the Substantial Completion Date\], the number of jobs projected to be <br />created by the Project during the period between the Effective Date and the <br />Substantial Completion Date: <br />The Borrower projects approximately \[__\] jobs to be created by the Project during the <br />11 <br />period between \[\[(1)\] the Effective Date and the Substantial Completion Date\] \[and\] <br />\[\[(2)\] the Substantial Completion Date and the fifth anniversary of the Substantial <br />12 <br />Completion Date\]. <br />(iii) Whether the Project will assist the Borrower in complying with applicable regulatory <br />requirements, and if so, a narrative description describing such enhancements: <br />\[___\]. <br />(iv) The amount by which the Project will assist the Borrower in increasing the volume of <br />potable water produced (measured in MGD annually): <br />\[___\]. <br />11 <br /> Include for both the reports delivered (i) prior to the Effective Date and (ii) 90 days following the Substantial <br />Completion Date. <br />12 <br /> Include for both the reports delivered (i) prior to the Effective Date and (ii) 90 days following the fifth anniversary <br />of the Substantial Completion Date. <br />EXHIBIT L-1 <br /> <br />