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Issued $2,000,000 industrial revenue bonds for property <br /> owner in 1984. (Not part of city's debt load.) <br /> Issued $600,000 of general obligation bonds for the site <br /> acquisition costs in 1984. (This debt was refunded by the <br /> city in 1993.) <br /> Developer's assessment agreement guarantees a minimum <br /> market value on the property until 2005. <br /> 2. 1 -1 Hewlett Packard /Good Value Homes TIF Economic <br /> Development District This district expired for pay 1994. Its <br /> purpose was to promote economic development through an <br /> addition to a manufacturing business and new housing. In an <br /> economic development district the base increases by an inflation <br /> factor each year until the district expires. There is a maximum life <br /> of ten years. <br /> Established in 1984. Expired for pay 1994. <br /> Public funds used for infrastructure construction and <br /> infrastructure connection costs to the St. Paul and <br /> University of Minnesota stormwater systems. <br /> Financed with $525,000 and $1,075,000 in general <br /> obligation bonds in 1983 and 1984.. <br /> 3. 1 2 1666 Coffman TIF housing district. To promote senior <br /> multi- family, ownership housing in the community. The life of the <br /> district is a maximum of 25 years. <br /> Established in 1985. Expires for pay 2011. <br /> Public funds used for public utility and street <br /> improvements, soil preparation costs and site preparation <br /> costs. <br /> Financed with $1,300,000 of general obligation bonds of <br /> 1985. (This debt was refunded by the city in 1993.) <br /> 4. 1 -3 Stratford Office buildings TIF economic development district. <br /> This district expires for pay 1995. It was an economic <br /> development project to create jobs by constructing office buildings <br /> on vacant land. Two of the five office buildings were <br /> 4 <br />