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1196 understand that out of the total millage of 197. mills, 117 are for the school district of which your village constitutes only a very small part. PJhether this project goes in here or does not go in here, the tax picture will remain the same. The peole who live in these apartments, whether in your village or not, are going to drive on your streets, require police protection, and they are going to attend your schools. You have an opportunity to have an impact on your village taxes - I notice they are a remarkably small percentage of your total taxes, but approximately 15~, or a millage levy, according to my figures if they are right, and I hope they are, of about 29 mills. I don't know how your assessor would asses this building, but on the basis of the guesses I made, and I would be happy to go over these figures with this gentleman, and the members of the council, on the basis of the other proposed building that we had, I estimated that there would be a reduction from 29 mills -- I estimated that there would be a drop of somewhere between 1 and 2 mills in the Village taxes and how this would. be offset by the rise in the school district taxes, I don't know. I don't know the size of the school district, but how one parti- cular project in this village might affect the school district as a whole, that is the extent of it, but I can say this - the problem cannot be viewed as this project in this area alone when you take into consideration that these builders could go out across the line tomorrow and build a nroject~that would have the same effect on your taxes; and if you are going to get the tax dollar in here to have any effect on your village taxes, you might as Trrell get the village share of it. In addition, you might as well get the dollars running into your shopping center so you have a justifiable base for your assessor to boost that up. Notiv the gentlemen owning it won't like it,but when those tills are ringing in there, that is how you estimate the value of that kind of property. He knows it and he would rather pay the taxes with those tills ringing; because there are people buying in there. You can't simply say it would be nice if we could have an office- type building or if we could have a nice, light-type industry Vrithout any smoke. That's what every village wants and its a lovely thing to get but you don't have one thing without the other. I think, if I can presume to suggest, in line wit':: P,Zr. Loecks think- ing, and he has been in this field a lot longer than I have and I assume than most of us, that it is precisely when a thing like this comes up, that you have to look at the whole picture. Not out of rose tinted glasses, but out of the realities that we all face. If you do this, I think you will find that. the revised plan is an appropriate thing for this village and in the best interests of the village, and I say again that although I don't represent the owners of the property, that it appears the rezoning petition is only for the purpose of defea±.ing this one project and that they want to rezone it back again if they Sind a buyer who is most acceptable, ^ apparently, than our clients. Thank you very much. Nilsen r.2r. Korstad Korstad Just one more word. and very short. P:e have so little property lef t in Falcon Heigh is that could be used for commercial purposes that I