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e - <br /> MEMORANDUM <br /> DATE:. August 26, 1996 <br /> TO: Mayor and Councilmembers . <br /> FROM: Michael Mornson, City Manager <br /> ITEM: STATUS UPDATE ON TIF <br /> Following is an update on the TIF plan and expenditures that were recently <br /> approved by the City Council on June 27, 1995. In addition are some changes <br /> the City Council may want to consider later this year (these are shaded). <br /> Expenditure <br /> Activi1y Authorized Project Status <br /> Evergreen Twin Homes $150,000 Construction underway. $12,500 paid to <br /> (12), min. value $175,000 developer upon issuance of certificate of <br /> occupancy per unit. 12 X 12,500 = <br /> $150,000. <br /> Gregory Redevelopment $350,000 Construction underway. $165,000 paid <br /> (18), townhomes valued at 2 �0{,x', to developer. $95,000 remaining to be <br /> $175,000 . paid upon completion of 10-14 units. <br /> American Monarch $125,000 Industrial Custom Products located in <br /> Industrial Custom Products building. $125,000 paid out. <br /> Community Center $3,000,000 $2,650,000 bonds issued. Construction <br /> underway. <br /> Autumn Woods Project $50o,999 No activity. <br /> $1,090999 Expand project area. <br /> F <br /> Apache Plaza $300,000 Money spent on CUB. <br /> . d0. . Future redevelopment. <br />