2007-09-26 CC Packet - Laserfiche WebLink

Home Browse Search

Subsection 2.7. Estimated Cost of Proiect. The estimated costs of public improvements to be made within Tax Increment Financing District No. 1- 7 are to be financed by tax increments and other sources if necessary. These estimated costs are as follows: TAX INCREMENT FINANGNG DISTRICT NUMBER. 1-7 Activitv Estimated Cost Developer Assistance (pay-as-you-go) Site Improvements Road Improvements Engineering/Contingencies Capitalized Interest Administrative Expenses $225,000 o o o o $ 30.000 $255,000 Total Project-Wide Improvements No public improvements will be made outside Tax Increment Financing District No. 1-7. SUPPORTIVE DATA FOR ESTIMATED COSTS OF IMPROVEMENTS ITEM GRADING AND SITE PREPARATION BASIS FOR ESTIMATES Estimates by City staff, consultants and developer PUBLIC IMPROVEMENTS/UTIlITIES Estimates by City staff, consultants and developer FIRE WATER/PONDS/LINES/PUMPS Estimates by City staff, consultants and developer ROAD IMPROVEMENTS Estimates by City staff, consultants and developer ADMINISTRATION Approximately 10% of tax increment expenditures allowed for local administration including bond issuance costs and planning Subsection 2.8. Estimated Amount of Bonded Indebtedness. The City is anticipating tine issuance of 1Q in General Obligation Taxable Tax Increment Bonds relating to this project. The City does anticipate entering Into a revenue note with developer for $225,000. -Page2- Ill)