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EXHIBIT II -C <br />(Proposed Development Analysis] <br />DEB Development has proposed the construction of two buildings on <br />the Gagne and Nadeau properties along Country Drive. These first <br />two buildings, 32,500 square feet and 17,500 square feet, are <br />anticiptaed to be constructed beginning in the spring of 1990. <br />The City of Little Canada has used Tax Increment Financing as an <br />incentive to attract a developer to pursue this project which <br />would not be feasible without the use of Tax Increment Financing. <br />First of all, due to the existing structures on the property, the <br />cost for the acquisition of the land exceeds the fair market <br />value of the property. Secondly, the demolition costs associated <br />with the project would be prohibitive without this assistance. <br />Thirdly, the lots are platted such that there is a need for <br />assembly of the properties in order to provide for a developable <br />site. <br />ti <br />Page 37 <br />