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. 2® <br /> MEMORANDUM <br /> DATE: November 15, 2000 <br /> TO: St. Anthony H.R.A. <br /> FROM: Michael Morrison, Executive Director <br /> ITEM: STAFF REPORT - WALGREENS/TOLD TAX INCREMENT <br /> FINANCING REQUEST <br /> As you know, the Told TIF request on behalf of a new Walgreens Store at 37`h Avenue NE and <br /> Silver Lake Road was referred to Ehlers and Associates to review and form a recommendation. <br /> Their report is attached. The TIF funds for this redevelopment project will come from the <br /> Chandler TIF District (see Finance Director's memo). We are not creating a new TIF district. <br /> The Walgreens tax base will be an important gain to the tax capacity of the City, school and <br /> county. <br /> Because the request is in excess of$100,000, a public hearing is required by law under the <br /> new Business Subsidy Policy. The resolution, if approved, authorizes an HRA public hearing <br /> for Januaty 9, 2001, which is the same meeting at which the Council will consider the <br /> rezoning and plat approvals for that property. <br />