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is <br /> TIF Update <br /> August 26, 1996 <br /> Wage 2 <br /> Clark Station $3000 No activity. <br /> 0�. <br /> Bowling Alley $60;000 No money spent, however, an office <br /> MOTO= t retail business has located there. <br /> St. Anthony Shopping Area $35,009 No activity. <br /> $-50,000 <br /> Vacant lots on Silver Lake Road $60,000 No activity. <br /> 750� <br /> Vacant lot by Industrial Products $233,000 <br /> Community Center site work $100,000 <br /> 7ttii ,er. oa <br /> • <br /> Money authorized to date----------------- 0 R 3°;485x000 <br /> Money not authorized---------------------$ 57;000 $2,538,009 <br /> $2,63S;B00, <br /> Total---------------------------------$6,203,,000 $6,A2,000 $6,123,090, <br /> 6;,033 OOa <br /> If we complete all the projects, the City would actually spend $7.4 million due to <br /> $1.3 million in interest on the CC bonds. The $3,485,000 funded the following <br /> projects: <br /> *Evergreen Townhomes <br /> *The Arbors Townhomes <br /> *American Monarch <br /> *CUB Foods <br /> *Community Center <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 />