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SOURCES OF FUNDS TOTAL <br />Tax Increment $6,427,200 <br />Interest Income $75,000 <br />PROJECT REVENUES $6,502,200 <br />Interfund Loans $200,000 <br />Transfers $0 <br />Bond Principal $3,500,000 <br />TIF Note Principal $0 <br />The other financing sources List above is included for purposes of OSA reporting for the TIF District. It is <br />not intended to be cumulative. Transfers are included in case money is moved from one fund to another <br />before an expenditure. <br />Subsection 2 -10. Uses of Funds <br />Currently under consideration for the District is a proposal to facilitate the development of approximately <br />9.995 net acres located off of Rice Street and County Road B2 by St. Jude Medical and to facilitate the <br />construction of various public improvements located at the corner of Highway 36 and Rice Street. The City <br />has determined that it will be necessary to provide assistance to the project for certain costs. The City has <br />studied the feasibility of the development or redevelopment of property in and around the District. To <br />facilitate the establishment and development or redevelopment of the District, this TIF Plan authorizes the <br />use of tax increment financing to pay for the cost of certain eligible expenses. The estimate of public costs <br />and uses of funds associated with the District is outlined in the following table. <br />USES OF FUNDS TOTAL <br />Land/Building Acquisition/Relocation $850,000 <br />Site Improvements/Preparation $400,000 <br />Public Utilities $1,400,000 <br />Public Parking Facilities $0 <br />Streets and Sidewalks $760,200 <br />Interest $2,850,000 <br />Administrative Costs (up to 10 %) $642,000 <br />PROJECT COSTS TOTAL $6,052,200 <br />Interfund Loans $200,000 <br />Transfers $0 <br />Bond Principal $3,500,000 <br />TIF Note Principal $0 <br />City of Little Canada <br />Tax Increment Financing Plan for Tax Increment Financing District No. 5-1 2 -5 <br />-14- <br />