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ED Report <br />April 19, 2006 <br />Page 4 <br /> <br />After the City determines the future of its TIF districts (the desired outcome) the financial <br />advisors would prepare a spreadsheet which would project the amount of increment <br />generated by the TIF districts. From this spreadsheet, the City would then need to make a <br />determination as to the desired expenditures, realizing that the identified project expenditures <br />already exceed the projected non-obligated increment of $14.6 million. <br /> <br />Some of the projects already having been identified for potential funding (with potential <br />funding levels) include the following: <br /> <br />• Commercial / Industrial acquisition or assistance: $6,000,000 <br /> <br />___ 1. Skyline Motel redevelopment <br />___ 2. Pak Building redevelopment <br />___ 3. Moundsview Square / Silverview Plaza redevelopment <br />___ 4. Premium Stop redevelopment <br />___ 5. County Rd. 10 / Woodale redevelopment <br />___ 6. Business Improvement Loans <br /> <br />• Residential Development & Redevelopment: $4,000,000 <br /> <br />___ 1. Housing Replacement Program <br />___ 2. Housing Resource Center <br />___ 3. Infill Redevelopment Assistance <br />___ 4. Rental Housing Improvement Programs <br /> <br />• Infrastructure Rehabilitation: $25,000,000 <br /> <br />___ 1. County Road 10 Corridor Improvement Program <br />___ 2. Street and Utility Replacement <br />___ 3. Wetlands Preservation and Reforestation <br /> <br />• General Economic Development Activity: $2,000,000 <br /> <br />___ 1. Personnel costs <br />___ 2. Consultant fees <br />___ 3. TIF and Financial Advisors <br />___ 4. Advertising, Operating and Equipment Costs <br /> <br />The amount of expenditures that have been identified for potential funding via collected tax <br />increment revenues totals approximately $37,000,000, which far exceeds the projected $14.6 <br />million of non-obligated pooled increment to be collected through 2015. As a result, the City <br />must make value-judgments regarding the potential expenditures and determine which of the <br />programs identified should be supported and to what extent. To help make this <br />determination, the City Council would like the Planning Commission’s feedback and provide <br />them with as specific or as generic a recommendation as the Commission—either as a group <br />or individually—feels comfortable making.