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1986_1020_packet
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1986_1020_packet
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12/13/2011 4:01:04 PM
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12/13/2011 3:43:02 PM
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$8,800,000 'is needed., The City would use a "'pay as you Boll <br />11 A I <br />which results 'in an interest loss, of $3..8 million for <br />Rosewood over fourteen years,* thus, the prq osied write-down <br />,P <br />is $12.-6 million O <br />2., The total increment payout would occur win 2003, Thereafter, <br />the remaining increment will, be available for City prol eats . <br />The prelse value of $ 2 , 0 O 0 fourteen years is $7,8101 <br />not, 118.8 as requested,, Thus the City, 'in clonstant dollars, <br />a NI <br />is not Putting $1 million less than requested 'into the develop- <br />ment .1 <br />44, The staff has reviewed the development coists, for the Project. <br />The developer costs, cannot 'excee'd $,63,-64 million to reach a <br />target rent of $15.001, <br />4PI <br />51'.1 The playouts, would be fort hcoming only if previously agreed upon, <br /># 0 <br />development oc�c�urre�d. Thus,,, this. is a vIrtually risk free <br />0 <br />propois,iUon for the City., <br />
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