My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
07-06-1998 WS
MoundsView
>
City Council
>
City Council
>
Packets
>
1990-1999
>
1998
>
07-06-1998 WS
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/18/2018 7:43:21 AM
Creation date
6/18/2018 6:04:03 AM
Metadata
Fields
Template:
MV City Council
City Council Document Type
City Council Packets
Date
7/6/1998
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
40
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
07/01/98 WED 15:24 FAX 612 885 5969 KRASS MONROE fj003 <br /> A senior rental project generally requires a significant amount of tax increment assistance because <br /> the tax rates for rental property have been substantially higher than owner occupied housing. The <br /> principal behind a co-op is that each unit of the co-op is treated as an owner occupied housing unit <br /> and receives the same tax classification (1%) as homesteaded housing. As a result, the need for <br /> tax increment assistance with a co-op project is substantially reduced. As the chart above shows, <br /> the taxes per unit for the co-op housing ($844) are less than half the taxes per unit for the rental <br /> project($1,705). As a result, the City should review the amount of tax increment assistance that <br /> is necessary to facilitate the development of the co-op housing project. <br /> It would be appropriate to review these issues with Silverview Estates to again determine what <br /> assistance is necessary to effectuate this revised development. We look forward to hearing from <br /> you. <br /> JRC/lrb <br /> Enclosures <br /> cc: Silverview Estates <br /> Attn: Marcel Eibensteiner <br /> G:\WPDATAMMOUNDS VIEW11\CORUOPKE.DOC <br /> •Page 2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.