Laserfiche WebLink
2. After the Water and Sewer loans have been paid in full, land <br />proceeds generated in the COR area will next be applied <br />against park obligations — Draw Park as park improvements are <br />non-TIF eligible. Park Trust Fund will be the benefitting fund. <br />3. After steps 1 and 2 above have been paid in full, additional <br />land proceeds generated will pay back the city HRACOR Fund <br />for remaining Land Held for Resale balance in HRACOR Fund. <br />4. After steps 1, 2 and 3 above have been paid in full, additional <br />land proceeds will be distributed to the respective city funds <br />per percentages outlined below and with a 4% interest rate: <br />Percentage <br />Total Funding Less Land-TIF Eligible of Total Costs <br />Stormwater Mgmt $ 1,409,942 9292 4.26% <br />HRACOR $ 7,546,442 9295 22.79% <br />PIR $ 4,862,493 9400 14.69% <br />MSA $ 5,084,280 9402 15.36% <br />Equipment Fund $ 1,361,579 9234 4.11% <br />Street Light $ 160,892 9603 0.49% <br />Water $ 713,546 9601 2.16% <br />Sewer $ 311,891 9602 0.94% <br />Storm Utility $ 1,281,282 9605 3.87% <br />TIF 1 $ 3,806,410 9201 11.50% <br />TIF 2 $ 6,571,978 9202 19.85% <br />$ 33,110,735.00 100.00% <br />