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TIF Update <br /> August 26; 1996 <br /> Page 2 <br /> Clark Station $30,090 No activity. <br /> Bowling Alley $60,090 No money spent, however, an office <br /> dQ000 retail business has located there. <br /> St. Anthony Shopping Area $35;090 No activity. <br /> $59;999 <br /> Vacant lots on Silver Lake Road $69,009 No activity. <br /> T5; <br /> Vacant lot by Industrial Products $233,000 <br /> Community Center site work $100,000 <br /> nth an �S �verLake�Road�Bnd� �0 0;; <br /> Money authorized to date-----------------$4,205,000 <br /> 3 85 Q0 <br /> 00 <br /> Money not authorized----------------------$i�.,�0 $2,538,000) <br /> $2,63$ 90, 248,0 <br /> Total--------------------------------- 000 $6,023,009 Qa-inn nno, <br /> a;033;00., <br /> If we complete all the projects, the City would actually spend $7.4 million due to <br /> $1.3 million in interest on the CC bonds. The $3,485,000 funded the following <br /> projects: <br /> *Evergreen Townhomes <br /> *The Arbors Townhomes <br /> *American Monarch <br /> *CUB Foods <br /> *Community Center <br /> Once again the benefits of setting up TIF in this manner are: <br /> • No LGA loss <br /> • Will not have to issue bonds <br /> • Will not have to put property in the district <br />