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C. Development Program <br />1. Description of Development Activities <br />The development program will consist of a 231,000 square foot office/service <br />center, 481,000 square foot warehouse and 4,000 square foot restaurant. As such, a <br />four -phased construction buildout of new commercial/industrial development <br />approximating 716,000 square feet will commence in 1987. The developer will be <br />assisted with a portion of the public improvement costs in addition to land <br />acquisition costs through tax increments generated as a result of these <br />developments. <br />2. Development Activities Covered by Contracts <br />There are no development activities under contract at the present time. <br />3. Other Development Not Under Contract Reasonably Expected to Occur in the <br />Proj ect <br />As a part of the City's overall revitalization program within the redevelopment <br />district, the development program provides for future new construction of other <br />commercial/industrial projects within the development district area. The future <br />development would be dependent upon the availability of public funds. <br />4. Also, see Part 1, Section F of this report. <br />(AS MODIFIED JUNE 12, 1989) <br />Description of Development Activities <br />The development program will consist of 270,000 square feet of high quality light <br />industrial facilities with the flexibility of use for manufacturing, assembly, <br />warehouse storage and office. As such, a multi -phased construction buildout of <br />new commercial/industrial development approximating 175,000 square feet will <br />commence in 1989 and the remainder in the following phases. The developer will <br />be assisted with public improvement costs in addition to land acquisition costs <br />through tax increments generated as a result of these developments. <br />2. Development Activities Covered by Contracts <br />There are no development activities under contract at the present time in the <br />proposed Mounds View Business Park South. <br />3. Other Development Not Under Contract Reasonably Expected to Occur in the <br />Proj ect <br />As a part of the City's overall revitalization program within the redevelopment <br />district, the development program provides for future new construction of other <br />commercial/industrial projects within the development district area. The future <br />development would be dependent upon the availability of public funds. <br />City of Mounds View TIF District No. I Modification 2 111 a g c <br />