02-26-1998 - Laserfiche WebLink

Home Browse Search

0 13. Project Construction Schedule: a. Construction start date July 1998 b. Construction completion date July 1999 Lease up expected by 1-1-2000 c. If phased project: Year % Complete Year % Complete Silverview anticipates developing the three (3) components in essentially two (2) separate phases. The first phase would consist of the construction of the senior housing component and the 5,000 square foot office building commencing on approximately July 1, 1998 and continuing thereafter to a projected completion date of July 1, 1999. Thereafter construction of the 25,000 square foot office component would be undertaken based upon an analysis of when the market accepts the project. 14. Estimated Number of Jobs: Created 48 construction;'3 nonconstruction (within 2 yrs) Retained 3 permanent-nonconstruction • There will be a significant number of full time equivalent construction related jobs created estimated at 37 by the general contractor for the senior housing project, 9 for the 25,000 square foot office building and 2 for the 5,000 square foot office building. 15. Average Annual Wage Level of Jobs Created (within 2 yrs) Retained 25,000 - 30,000 for senior housing project and office components consisting of an on site manager and caretakers. 16. Ls Job Training Assistance Needed? No TAX INCREMENT FINANCING REQUEST: 1. Describe amount, term and purpose for which tax increment financing is required and how the project fits into the City's economic development and redevelopment goals and objectives. Silverview Estates is proposing pay-as-you go tax increment financing equal to 90% of the projected increment with respect to each component of the Project. Silverview is also requesting that 90% of the tax increment generated from the adjacent convenience store • (which is developed as part of the same PUD and which is in the same tax increment