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12-02-2020 Council Packet
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12-02-2020 Council Packet
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<br />Little Canada Economic Development Authority <br />Modification to the TIF Plan for Tax Increment Financing District No. 3-3 2 <br />Table of Contents <br /> <br />Modification to the Redevelopment Plan for Redevelopment Project Area No. 1 ......................... 3 <br />Foreword ................................................................................................................................... 3 <br />Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 3-3 .. 4 <br />Foreword ................................................................................................................................... 4 <br />Statutory Authority .................................................................................................................... 4 <br />Statement of Objectives ............................................................................................................ 4 <br />Redevelopment Plan Overview ................................................................................................. 4 <br />Description of Property in the District and Property to be Acquired .......................................... 5 <br />Classification of the District ....................................................................................................... 5 <br />Duration and First Year of Tax Increment of the District ........................................................... 6 <br />Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/Increment <br />and Notification of Prior Planned Improvements ....................................................................... 6 <br />Sources of Revenue/Bonds to be Issued .................................................................................. 7 <br />Uses of Funds ........................................................................................................................... 8 <br />Estimated Impact on Other Taxing Jurisdictions ....................................................................... 9 <br />Supporting Documentation ..................................................................................................... 10 <br />Administration of the District ................................................................................................... 10 <br />Appendix A: Map of Redevelopment Project Area No. 1 and the TIF District ........................ 11 <br />Appendix B: Estimated Cash Flow for the District .................................................................. 12 <br />Appendix C: Findings Including But/For Qualifications .......................................................... 13 <br />Appendix D: TIF Plan adopted July 9, 2002 .......................................................................... 15 <br />and Modified November 13, 2002 ........................................................................................... 15 <br /> <br />
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