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1989_0724_packet
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1989_0724_packet
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11/16/2011 2:30:34 PM
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M. Mr <br />'K M Oi R AND UM <br />'With respect to the proposed Poisit Office, I have been working on <br />0 It <br />the financing package that could be reviewed by the City Council <br />if the Planning Commission should deem the modified proposal to <br />ble. acc,epitable. <br />If the Council should determine that tax ioncrement financing is <br />Aft Mi <br />reasiblie, the proposal could ble structured as follows,-&,- <br />I'm The City clan use tax increment for land write down purposes <br />I <br />to Offset additional expenses incurred- by the developer. <br />I <br />This currenti land value is $298j400 according to Ramsey <br />Countiy. <br />Again, this potential financing is comioletely contingent on a <br />building tihat 18s aiccet)tabile to the Pl ' " 0 0 <br />a A. 9i anning Commission and City <br />i'l a, At that pointi in time, the City Council would have to <br />Clounc, <br />determine whether 'it would want to, utilize tax increment f or the <br />purposes of the Post, Of f i,ce <br />
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