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STAFF REPORT <br /> - DATE: August 26, 1996 <br /> TO: Mayor and Councilmembers <br /> FROM: Michael Mornson, City Manager <br /> ITEM: TAX INCREMENT FINANCING AMENDMENT <br /> PROPOSAL <br /> Following is a summary of existing TIF projects and some proposed changes that the Council <br /> may want to consider. The City Council will call for a Public Hearing on October 8th and <br /> hold the hearing on November 12th. <br /> 4 $233,000 for vacant lot by Industrial Custom Products (new project) <br /> 4 $40,000 for Clark Station, up $10,000 <br /> -i $40,000 for bowling alley, down $20,000 <br /> 4 $60,000 for St. Anthony Shopping Center, up $25,000 <br /> -> $75,000 for Twin City Federal lots, up $15,000 <br /> -� $1.3 million for Autumn Woods, up $800,000, plus expansion of property area to <br /> include Kentucky Fried Chicken, pizza, video and Firstar parking lot areas <br /> 4 *$400,000 for Apache Plaza (new) <br /> '4 *$100,000 for Community Center.site work (new) <br /> 4 *$100,000 for bridge work along Silver Lake Road at 37th Avenue NE (new) <br /> 4 *Delete $500,000 for Lowry Grove <br /> New expenditures total $923,000 <br /> Total expenditures are $6,033,000. However, the City will spend about $7.4 million, if we do <br /> all of the projects due to interest on the CC bonds. <br />