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5) Tax Increment Finance <br /> a. City Hall/Community Services Building debt is <br /> paid off. <br /> b. Kenzie Terrace District was decertified. <br /> i. Added $335,500 in taxable valuation. <br /> ii. Cost savings was $65.10 per household. <br /> c. Hellickson Dental TIF District <br /> i. Last payment is December of 2004 <br /> ii. Potential exists to-decertify. <br /> 111. Will ad additional taxable valuation. <br /> 6) Redevelopment (More Parcels Pay the Tax Burden) <br /> a. Culvers <br /> b. Walgreens <br /> c. Stonehouse/Amcon Project <br /> i. 26,000 Retail Space <br /> ii. 9,000 will be new SAV II Store <br /> iii. Projected Valuation =$1,700,000 <br /> iv. Property Taxes = $60,000 <br /> 7) Parks <br /> a. Increased demand for use of City parks and <br /> related recreation. <br /> b. Considerable resources were used for the <br /> redevelopment of Central Park ($2.7 million). <br /> c. Cost increased because of additional maintenance <br /> and the. lighting-of the ball fields. <br /> d. The park budget was increased by $20,000. <br /> i. Establishing additional user fees may be <br /> implemented to recapture costs. <br />