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CC PACKET 03142006
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CC PACKET 03142006
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7/30/2015 11:44:12 AM
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5/7/2014 2:28:41 PM
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City Council
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City Code Chapter Amendment
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Uses of Funds <br />In order to facilitate the redevelopment of the District, this TIF Plan authorizes the use of tax <br />increment financing to pay for the cost of certain eligible expenses. The estimate of public costs and <br />uses of funds associated with the District is outlined in the following table. <br />(AS MODIFIED ONMARCH 14, 2006) <br />USES OF FUNDS TOTAL <br />Land/Building Acquisition $9825500 <br />Site Improvements/Preparation $8675500 <br />Planning and Engineering <br />$50,000 <br />Environmental <br />$700,000 <br />Streets and Sidewalks <br />$2,500,000 <br />Interest <br />$676,613 <br />Administrative Costs (up to 10%) <br />$483,387 <br />PROJECT COSTS TOTAL <br />$652609000 <br />Interfund Loans <br />$29000,000 <br />Bond Principal <br />$45000,000 <br />The above budget is organized according to the Office of State Auditor (OSA) reporting forms. <br />It is estimated that the cost of improvements, including administrative expenses which will be paid or <br />financed with tax increments, will equal $12,260,000 as is presented in the budget above. <br />Estimated costs associated with the District are subject to change among categories without a <br />modification to this TIF Plan. The cost of all activities to be considered for tax increment financing <br />will not exceed, without formal modification, the budget above pursuant to the applicable' statutory <br />requirements. Project costs may be spent on activities related to development or redevelopment <br />outside of the District but within the boundaries of the Project, (including administrative costs, which <br />are considered to be spent outside of the .District) subject to the limitations as described in this TIF <br />Plan. <br />Housing and Redevelopment Authority of St. Anthony Modification to the TIF Plan for the Chandler Place TIF District <br />13 <br />R <br />
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