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33 <br /> TIF Update <br /> December 13, 1995 • <br /> Page 2 <br /> Lowry Grove $500,000 No activity. <br /> Bowling Alley $60,000 No money spent, however, an office <br /> retail business has located there. <br /> St. AnthonyShopping Area $35,000 No activity. <br /> Vacant lots on Silver Lake Road $60,000 No activity. <br /> Money authorized to date-----------------$4,205,000 <br /> Money not authorized----------------------$1,575,000 <br /> Total--------------------------------$5,780,000 <br /> Interest on bond $1 million is the difference between $5.1 million and $5.7 <br /> million. <br /> • <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 /> Following represents the status of the existing TIF districts: <br /> District <br /> TIF Tyne Increment Terminates <br /> *Chandler Housing $240,000 per year 2010 <br /> *Kenzie Terrace Housing $461,910 debt until 1999 2008 <br /> Evergreen Housing $59,000 2001 <br /> Walbon Housing $35,000 debt until 2001 2011 <br /> Apache Plaza Commercial ---- 2018 <br /> *The Chandler and Kenzie Terrace districts are the districts the City is using for the $5,100,000 in <br /> expenditures. <br /> Chandler and Kenzie Terrace Districts have a fund balance as of December 31, • <br /> 1994 of$1.1 million. <br />