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05-06-2019 Council Packet
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05-06-2019 Council Packet
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10/30/2021 1:08:47 PM
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5/7/2019 11:39:32 AM
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City Council
Council Document Type
Council Packet
Meeting Date
05/06/2019
Council Meeting Type
Regular
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Proposed Senior <br />Care Campus <br />(1)ESTIMATED TAXABLE VALUE WITHIN <br />BOUNDARIES OF TIF DISTRICT <br />(2)ESTIMATED TAXABLE VALUE NOT <br />WITHIN BOUNDARIES OF TIF DISTRICT <br />TIF ASSISTANCE WOULD BE PROVIDED <br />AS PAY -AS-YOU-GO (REIMBURSEMENT) AND <br />NOT UPFRONT <br />4 <br />Sources Amount Uses Amount <br />Equity $11,910,871 Property Acquisition $3,960,000 <br />Debt $66,000,000 Building Construction AL/IL/MC <br />(1) <br />$24,761,742 <br />Building Construction <br />Townhomes (2) <br />$6,209,313 <br />Building Construction Skilled <br />Care <br />$8,409,280 <br />Building Construction Clubhouse $1,325,000 <br />FFE $4,700,107 <br />Site Development $5,800,000 <br />Financing Costs $11,650,000 <br />City Fees $2,867,703 <br />Soft Costs $4,702,459 <br />Developer Fee $1,200,000 <br />Contingencies $2,325,267 <br />Total $77,910,871 Total $77,910,871
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