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15 <br />4 Year Rule Issues <br />• 19 parcels owned by HRAto be developed <br />— 4 year rule is not issue since the land is vacant and will be <br />developed at some point in the future <br />• 45 parcels can be "knocked" down out of district <br />— Land will be "brought" back into the district when sold to a private <br />party for development <br />• County assessor is required to set new base value for the parcel based upon <br />future use <br />EHLERS <br />1 <br />kAYE. PYNLC INAKI <br />16 <br />4 Year Rule Issues <br />— 3 will be removed and can't be reinstated <br />Ramsey Office Plaza and NAU Country office building <br />• 45 parcels that can be "knocked" down out of district <br />— 3 are tax exempt uses so not really impacted (would never <br />generate TIF) <br />• Mortuary, Northgate Church & Charter School <br />Can only be reinstated unless addition is built or land subdivided and <br />additional building constructed <br />— 39 remaining parcels <br />• 4 year rule may not be an issue since the land is vacant and will be <br />developed at some point in the future <br />Land will be "brought" back into the district with base value set at the tax <br />year value when it is sold for development <br />— Could be a benefit to the City /HRA if future value is less than the 2010 value <br />— Issue exists if future value is higher than the existing base value EH LE RS <br />1/16/2014 <br />8 <br />