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J <br /> • <br /> STAFF REPORT <br /> DATE: March 19, 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 <br /> that the Council may want to consider: <br /> • -� $233,000 for vacant lot by Industrial Custom Products (new project) <br /> -> $40,000 for Clark Station, up $10,000 <br /> -� $40,000 for bowling alley, down $20,000 <br /> 4 $50,000 for St. Anthony Shopping Center, up $15,000 <br /> -� $75,000 for Twin City Federal lots, up $15,000 <br /> $260,000 for Arnie Gregory's 1st phase, down $90,000 <br /> $260,000 for Arnie Gregory's 2nd phase (new project) <br /> New expenditures total $423,000. The total would be $1,998,000 to be spent. <br /> $4,205,000 has been authorized for a grand total of$6,203,000. The City will <br /> receive a total of about $9 million in TIF dollars until the districts terminate. <br /> Does the Council want to add any funds for Apache Plaza? <br /> • <br />