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1 z <br /> MEMORANDUM <br /> DATE: May 15, 1996 <br /> TO: Mike Mornson, City Manager <br /> FROM: Roger Larson, Finance Director <br /> ITEM: T.I.F DISTRICTS STATUS REPORT <br /> 4/1/96 Last District <br /> TIF TYPE INCREMENT DEBT Payment Term <br /> Chandler Housing $240,000 No Debt 2010 <br /> Kenzie Terrace Housing $440,000 $560,000 2/1/98 2008 <br /> Evergreen Housing $ 64,000 $267,000* 2001 2001 <br /> • Note <br /> Walbon Housing $ 35,000 $170,000 2/1/01 2011 <br /> Apache Plaza Commercial 2018 <br /> Hellickson Dental Commercial $ 13,690** $130,000 2008 2018 <br /> Note <br /> Fund Balances 12/31/95 <br /> Chandler $ 769,257 <br /> Kenzie Terrace $1,330,260 <br /> Evergreen $ 65,310 <br /> Walbon $ 14,647 <br /> Apache Plaza $ - 0 - <br /> Hellickson $ - 0 - <br /> H.R.A. <br /> 0 - <br /> H.R.A. Projects $ 799,546 <br /> * The H.R.A. has been escalating payments to pay off the debt equal to the last year of the <br /> district. <br /> • ** The increment should continue to grow to approximately $27,000 annually. Payments may <br /> have to be escalated (no 10% administration fee extracted) to pay off the debt in 12 years. <br />