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O <br /> J I <br /> STAFF REPORT <br /> DATE: June 5, 1996 <br /> TO: Mayor and Councilmembers <br /> FROM: Michael Mornson, City Manager <br /> ITEM: TAX INCREMENT FINANCING AMENDMENT <br /> PR®P®SAI.. <br /> Following is a summary of existing TIF projects and some proposed changes that the Council <br /> may want to consider: <br /> 4 $233,000 for vacant lot by Industrial Custom Products (new project) <br /> ® 4 $40,000 for Clark Station, up $10,000 <br /> 4 $40,000 for bowling alley, down $20,000 <br /> 4 � $50,000 for St. Anthony Shopping Center, up $15,000 <br /> 4 $75,000 for Twin City Federal lots, up $15,000 <br /> 4 $260,000 for Arnie Gregory's 1st phase, down $90,000 (Does the Council want to <br /> leave this or anything in here for Phase 2?) <br /> �D $1 million for Autumn Woods, up $500,000, plus expansion of property area <br /> $250,000 for Apache Plaza (new) <br /> 4 $100,000 for Community Center site work (new) <br /> New expenditures total $1,013,000 <br /> Total expenditures are $6,023,000. However, the City will spend about $7.4 million, if we do <br /> all of the projects due to interest on the CC bonds. <br />