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85 E.SEVENTH PLACE,SUITE 100 <br /> SAINT PAUL,MN 55101-2887 - <br /> 651-223-3000 FAX:651-223-3002 SPRINGSTED <br /> Public Finance Advisors <br /> VA <br /> MEMORANDUM <br /> TO: Michael Mornson, City Manager, St. Anthony <br /> FROM: Paul T. Steinman, VP Housing & Economic Development <br /> DATE: July 14, 2000 <br /> SUBJECT: Apache/Hillcrest Redevelopment Project <br /> You asked me to analyze the Hillcrest proposal based upon St. Anthony Resolution 95-038 <br /> which establishes guidelines for providing monetary assistance for development and <br /> redevelopment projects. This analysis'is as follows: <br /> PARAMETERS — ST. ANTHONY MONETARY ASSISTANCE RESOLUTION <br /> • $10,000 in assistance per$100,000 of new or retained value <br /> • $ 5,000 in assistance per full time job created <br /> PROPOSED APACHE REDEVELOPMENT PROJECT <br /> • $20,000,000 in new and retained value projected <br /> • Developer could qualify for up to $2 million in assistance <br /> • 1,500 potential full time jobs <br /> • Developer-could qualify for up to $7.5 million in assistance <br /> • <br /> SAINT PAUL,MN • MINNEAPOLIS,MN • MILWAUKEE,WI OVERLAND PARK,KS • WASHINGTON,DC a DES MOINES,IA <br />