Agenda - Council - 12/08/2009 - Laserfiche WebLink

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TAX INCREMENT FINANCING DISTRICT NO. i O. Parcels to be Acquired. The following sections of the TIP plan for TIP'District No.2 are amended to include the following: In addition to any land acquisition previously specified and to amend previously specified acquisitions included in the Amendment to the Tax Increment Pinancing Plan dated December 9, 2008, the City intends to use proceeds from TIP District No.2 to purchase the following parcels: 34-32-25-21-0012 27-32-25-34-0007 27-32-25-43-00 I j 27-32-25-43-0008 27-32-25-44-0002 34-32-25-11-0021 34-32-25-11-0009 35-32-25-22-0017 35-32-25-21-0008 35-32-25-21-0030 35-32-25-22-0010 20-32-25-31-0001 20-32-25-32-0001 29-32-25-21-0001 29-32-25-33-0001 27-32-25-43-0002 27 - 32-25-43-0012 27-32-25-43-0014 27-32-25-43-0009 27-32-25-44-0003 34-32-25-11-0015 34-32-25-11-0010 35-32-25-22-0005 35-32-25-21-0027 35-32-25-22-0009 27-32-25-34-0009' 20-32-25-34-0003 25-32-25-43-0043 29-32-25-12-0001 29-32-25-32-0001 34-32-25-12-0006 35-32-25-21-0012 27 -32-25-43-0006 27-32-25-43-0010 27-32-25-44-0006 34-32-25-11-0016 34-32-25-11-001I 35-32-25-21-0006 35-32-25-21-0028 27-32-25-44-0012 27-32-25-34-0005 20-32-25-43-0001 27-32-25-33-0006 30-32-25-23-0003 29-32-25-22-0004 27-32-25-43-0011 35-32-25-21-0023 27-32-25-43-0005 27-32-25-44-0014 34-32-25-11-0022 34-32-25-11-0008 35-32-25-12-0004 35-32-25-21-0007 35-32-25-21-0029 35-32-25-22-0014 30-32-25-22-0003 20-32-25-33-0001 30-32-25-11-0025 30-32-25-14-0001 Q. Estimate of Project Costs The above listed property in italics is located outside ofTIF District No.2 but within Development District No.1 SOURCES OF FUNDS The City expects to provide tax increment financing assistance for the following public costs. Tax Incl'ement Investment Earnings Bond Proceeds Sales/Lease Proceeds Other Revenues Total Revenues "Other Revenues" are detailed more fully in the City's tax increment financing reporting forms to the office of the State Auditor. $ 21,300,000 $ 250,000 $ 3,636,441 $ 1,250,000 $ 95,510 $ 26,531,951 USES OF FUNDS Land / Building Acquisition Site Improvements / Preparation Costs Installation of Public Utilities Streets and Sidewalks Social, Recreational, or Conference Facilities Bond Principal Payments Bond Interest Payments Loan / Note interest Payments Administrative Expenses Relocation Total Budget: $ 9,758,525 $ 1,500,000 $ 3,370,000 $ 4,900,000 $ 2,426 $ 4,000,000 $ 1,800,000 $ 96,000 $ 980,000 $ 125,000 $ 26,531,951