Agenda Packets - 1997/04/28 - Laserfiche WebLink

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• The But-For Analysis is provided as Exhibit No. 3. The EDA believes that the increased market value of the Tax Increment District without the use of tax increment financing will be less than the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments. W. Building Permits Issued A building permit is expected to be issued in 1997 for construction activities within the Tax Increment District. X. ► s • . •• i s 'r '# ' . ii • , ns • n • t The EDA shall, after due and diligent search, accompany its request for certification to the County Auditor, or its notice of Tax Increment District enlargement with a listing of all properties within the Tax Increment District or area of enlargement for which building permits have been issued during the eighteen(18)months immediately preceding approval of the tax increment financing plan by the EDA pursuant to Section 469.175, Subdivision 3, of the TIF Act. The County Auditor shall increase the original net tax capacity value of the Tax Increment District by the net tax capacity value of improvements for which a building permit was issued. Y. Bonded Deht The EDA may issue bonds including the use of "pay-as-you-go" obligations in any form or authorize the use of other available funds on hand or borrowed funds to finance the proposed activities and • Project budget. The maximum amount of such obligations will be $4,290,000. Z. Futuren v .lopment The City of Mounds View and the EDA have evaluated several development scenarios for property within the Tax Increment District. It is possible that further public improvements and private investments may occur within the Tax Increment District pursuant to the goals and objectives established for the Mounds View Economic Development Project and this Tax Increment District. S