Laserfiche WebLink
Development <br /> <br />Principal Amount <br /> <br />Existing <br />Sharp Building <br />Business Park 1 $184,940 <br />Business Park 2 255,801 <br /> <br />Trend Scientific 30,754 <br /> <br />Jones Group 45,000 <br /> <br />Am-Con West <br /> (Chem Graphics) 50,000 <br /> <br />Future Developments <br /> <br />933,505 <br /> <br />Ro <br /> <br />TOTAL <br /> <br />Estimate of Bonded Indebtedness. <br /> <br />$1,500,000 <br /> <br /> The City may £mance public costs identified in this TIF Plan through pay-as-you-go <br />obligations in the total principal amount of $1,500,000, plus bonds and obligations <br />including issued in connection with TIF District Np_s. 1, 2 and 4. (See Exhibit F.) <br /> <br />S. .Original Tax. Capacity. <br /> <br /> The original tax capacity of all property within TIF District No. 2 is the valuation as <br />of January 2, 1985. <br /> <br /> The County auditor will increase or decrease the original tax capacity of the TIF District <br />as a result of: <br /> <br />1. change in the tax exempt status of property within the TIF District; <br /> <br />2. reduction or enlargement of the geographic boundaries of the TIF District; or <br /> <br />reduction of valuation by means of a court-ordered abatement, stipulation <br />agreement, voluntary abatement made by the assessor or auditor or by order <br />of the Minnesota Commissioner of Revenue. <br /> <br />4. change in the classification of property within the TIF District to a <br /> classification that has a different assessment ratio. <br /> <br /> Each' year the county auditor w/il measure the increase dr decrease in the tax capacity of <br /> the TIF District. Any year in which the total tax capacity of the TIF District exceeds the <br /> adjusted original tax capacity, an increment will be payable to the City. Any year in which <br /> <br />SJB-151910 <br />RA125-52 16 <br /> <br /> <br />