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Lino Lakes Economic Development Authority, Minnesota <br />SPRINGSTED Page 6 <br /> <br /> <br /> d. Even if some development other than the proposed development were to occur, the City <br />finds that no alternative would occur that would produce a market value increase greater than <br />$18,756,583 (the amount in clause b less the amount in clause c) without tax increment assistance. <br /> <br /> (3) The TIF Plan would afford maximum opportunity, consistent with the sound needs of the City as a <br />whole, for development of the Project Area by private enterprise. <br /> <br /> Factual basis: The proposed development is the construction of a new large warehousing and distribution <br />facility in the Project Area that is expected to retain existing jobs as well as create new jobs in the City, plus <br />create new tax base for the City and the State. The development meets the City’s economic development <br />goals in terms of tax base expansion, job retention, and wage levels. <br /> <br /> (4) The TIF Plan conforms to general plans for development of the City as a whole. <br /> <br /> Factual basis: The City has determined that the development proposed in the TIF Plan conforms to the <br />City comprehensive plan. <br /> <br /> <br />Section K Estimated Public Costs <br /> <br />The estimated public costs of the TIF District are listed below. Such costs are eligible for reimbursement from tax <br />increments of the TIF District. <br /> <br /> <br />Land/Building Acquisition <br />Site Improvements/Preparation Costs <br />$0 <br />$1,105,529 <br />Installation of Public Infrastructure Improvements <br />Other Qualifying Improvements <br />Administrative Costs <br />Loan Interest Costs <br />$977,373 <br />$390,544 <br />$130,181 <br />$0 <br /> <br /> <br />Total $2,603,627 <br /> <br />The City anticipates using tax increment to the extent available to assist with financing a portion of the site <br />improvements and infrastructure costs, related administrative expenses, and other TIF-eligible expenditures as <br />necessary and related to development of the project. <br /> <br />The City reserves the right to administratively adjust the amount of any of the items listed above or to incorporate <br />additional eligible items, so long as the total estimated public cost is not increased. <br /> <br /> <br />Section L Estimated Sources of Revenue <br /> <br /> Tax increment revenue $2,603,627 <br /> Interest on invested funds 0 <br /> Loan proceeds 0 <br /> Special assessments 0 <br /> Rent/lease revenue 0 <br /> Grants 0 <br /> <br /> Total $2,603,627