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[Silver <br />Lake <br />Road <br />Funding <br />Source Amount <br />Chandler TIF - Cash Balance $ <br />798,585 <br />Source Category Year Fundl. <br />Subtotal <br />$ 798,585 <br />SAC/WAC <br />$ <br />$ 50,603 <br />Storm Water Funds <br />$ <br />$ 350,812 2007 <br />CASH ON HAND <br />SUBTOTAL <br />$ <br />;2,300,000 <br />$ 1,200,000 <br />Le <br />$ <br />$ 2 300 000 <br />2008 <br />IMPROVEMENT BOND <br />SUBTOTAL <br />$ <br />$ 2,300,000 <br />GRAND TOTAL <br />$ <br />3,500,000 <br />Note: $87,000 levy capacity from paying off debt allows City to levy entire <br />$2.3 million <br />rOptions for $322,000 in Future <br />LChandler TIF Funds (2009 -2010) <br />Use of Funds <br />Pre 1990 TIF district so use of funds are <br />pretty flexible <br />Recommendation <br />Keep funds and utilize for: <br />Payment of debt service on Silver Lake Road <br />bonds (in 2009 and 2010); or <br />Sidewalk and street light projects; or <br />i Other projects identified by City <br />4 <br />