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10-03-2022 Council Work Session Packet
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10-03-2022 Council Work Session Packet
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12/14/2022 9:10:12 AM
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12/12/2022 2:13:03 PM
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City Council
Council Document Type
Council Packet
Meeting Date
10/03/2022
Council Meeting Type
Work Session Special
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<br />Estimated Total TIF Eligible Costs <br /> Identified Costs Eligible Costs <br />Extraordinary Site Costs <br />Soil Corrections/Lime Stabilization $1,000,000 $1,000,000 <br />Site Fill $2,500,000 $200,000 <br />Public Utility Relocation $300,000 $300,000 <br />Aggregate Piers $1,000,000 $1,000,000 <br />Subtotal Extraordinary Site Costs $4,800,000 $2,500,000 <br />Offsite 21st Ave Road Extension <br />Removals/Sitework $300,000 $150,000 <br />Utilities $300,000 $100,000 <br />Paving $200,000 $100,000 <br />Landscaping/Street Lighting $100,000 $0 <br />A&E/Mgmt/Inspections/Contingencies $200,000 $50,000 <br />Subtotal Offsite 21st Ave Road Extension $1,100,000 $400,000 <br />Total Ryan Project $5,900,000 $2,900,000 <br /> <br />This would be provided in the form of a pay as you go note. Ryan would be reimbursed on an <br />annual basis for eligible costs incurred as increment becomes available. <br />The Tax Increment Financing Plan for District 1-14 based on the projections above. The plan <br />establishes the objectives, district assumptions, budget and use of funding for the district. This <br />will form the basis for any TIF assistance with Ryan Companies should they move forward with <br />the project. <br /> <br />Requested Council Direction <br />None required. Public Hearing and City Council consideration are scheduled for October 10, <br />2022. <br />Attachments <br />1. Concept Plan <br />2. Draft TIF Plan 1-14 <br />3. Baker/Tilly Analysis Memo dated October 3, 2022 <br />
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