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<br /> .JUll .s..::. -;,( ~~'q(Hn ~HL~~~ & ~~IRTES P:-Z/Z <br /> . <br /> . <br /> I estimated cost breakdown of Development District No. 1 eosts associated with fInancing Tu Increment <br /> ,. Financing District No.3 is as follows: <br /> I Cost Total illcludiuz the <br /> April 26, 1993 May 27, 1997 <br /> Origillal Budget Modilieation <br /> I Land Acquisition $196,000 5194,210.17 <br /> Excavation/grading $125,000 5125,000.00 <br /> . Landscaping/sod-lawn sprinklers $50,000 $37,908.60 <br /> Curb/gutter $12,000 510,150.00 <br /> I Site Conerete $213,000 5213,000.00 <br /> Site utilities $42,000 557,730.23 <br /> I Bituminous paving/stripping $17,000 517,000.00 <br /> Sitelelectrieal $12,000 512,000.00 <br /> I Finaneing costs @3.8%, 15 years $131,000 5131,000.00 <br /> City Administrative expenses $95,895 595,895.00 <br /> .. Total Cost $893,921 5893,921.00 <br /> I Section 4 I 0 Estimated Amount of Bonded Indebtedness. It is antieipated that $0 of bonded indebtedness <br /> will be incWTed with respect to this portion of Development District No. 1 at this time. Pursuant to Minnesota <br /> Statutes, Section 469.178, Subdivision I, General Obligation Tax Increment Bonds may be used as required <br /> . to amortize the costs identified in Article 1, Section 1.5. It is further anticipated that future bond sales will be <br /> based on availability of tax increment, It is also contemplated that future bonds will not be issued at one time <br /> but as they are needed. <br /> I (As Modij1ed May 27, 1997) <br /> I The pay as you go note established with the developer is set at an original principal balanee ofS723,237, <br /> witb aDnual interest wealafed at 1.95834% <br /> I Sectinn 4 11 Sources of Revenue. The eoslS outlined in Section 4.09 will be financed through the annual <br /> eollcetion of tax. increments, <br /> I ~\<(..\) <br /> ~G€ \~~\ <br /> I ~ ~~ \. 'l. ~\.~ <br /> ~ &.~\.~ <br /> ~~\'I <br /> .. ~IO<Iification for Tox In=moOtll Financillll Plan for Tax Incremctll Fin...<ina DiStl'ict No.3 t\\,'" 1V-2 <br /> I <br />