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APPENDIX A <br />PR07ECT DESCRIPTION <br />Three parcels are being removed from TIP' District No. 3-2 and included with another parcel in the <br />establishment ofTIF DistrictNo. 3-3. TIF DistrietNo. 3-3 will be a housing tax increment financing district <br />located within Redevelopment Project Area No. 1. A housing district has a maximum life of25 years of tax <br />increment (or a shorter period as determined by the City Council). Tax increments collected from the District <br />will enable the City of Little Canada to facilitate the construction of an approximately 35-unit multi-family <br />residential rental senior housing addition to the existing senior housing facility lmown as "Garden Terrace" <br />designed for persons or families of low and moderate income and an approximately 78-unit multi-family <br />residential rental senior housing facility known here as "Village Square at Little Canada" designed for <br />persons or families of low and moderate income over approximately 14,000 square feet ofcommercial/retail <br />space. <br />APPI;NDIY p_~ <br />