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TIF Assistance <br /> <br />The applicant is requesting that the City provide TIF assistance for the affordable portion of the <br />project. Staff has nm some preliminary numbers and has estimated that the entire building would <br />generate a total of $833,132 in tax increment over a 20 year period. The residential portion of the <br />building would generate $$25,338. While a housing district has not yet been established, staff is <br />recommending that $400,000 of TIF assistance be provided to the project, contingent upon the <br />approval of a £mal site plan for the project and establishment of a qualified housing district. <br /> <br />Staff has included a resolution for approval of the preliminary site plan which contains the <br />various contingencies mentioned above. <br /> <br />Recommendation: <br /> <br />Staff is recommending approval of the request for preliminary 'site plan approval, contingent on <br />the items contained in the resolution enclosed with this case. <br /> <br />Council Action: <br /> <br />Motion to adopt Resolution #06-06- <br />Ramsey Town Center Apartments. <br /> <br />Motion to deny the preliminary site plan. <br /> <br />granting preliminary site plan approval to the ACCAP <br /> <br />Review Checklist: <br />Community Development Director <br />HR& Exec. Director/Asst. Community Dev. Dir. <br />Economic Development Coordinator <br />City Engineer <br /> <br />CC: 6/13/06 <br /> <br />-217- <br /> <br /> <br />