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3 ! <br /> Chandler Place • <br /> Page 2 <br /> Council should be advised that they, the owners, and the financial people who work for <br /> Chandler were surprised that Chandler is a 25 year tax increment district, bringing in <br /> $240,000 a year and they have only received a $700,000 loan. I informed them that <br /> because tax increment laws have changed, the City is using the $240,000 on other <br /> redevelopment projects, etc., as well as the increment from the other districts. <br /> I have enclosed a letter from Jerry Gilligan who has also summarized the issues involved with <br /> this project. If you have any questions prior to the February 6th Work Session, please let me <br /> know. <br /> • <br /> • <br />