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City of Roseville,, Minnesota <br />all development occurs as prolpolsed�, the total in crease in marke t value would be <br />approiximately $111E31911 18,637,438, which in�clud�es a 2.5% an�n�ual market value <br />in�flatoir. <br />c. The resent value of tax imcrememt revenues from the District fair the maximum duration of <br />as permitted by the TIFT'lan is estimated to, be $9 31%lf 1" $1,107,814 (See Exhibit V). <br />Even if some development • er than the proposed development were to, occur, the <br />• • altern�ative would o ould proiduce a market value in�crease <br />greater than $1, F919718171415a 17,529,624, (the amolun�t in clause b less the amolun�t in clause <br />c) with�olut tax in�cremen�t assistan�ce. <br />N colmparative an�alysis of estimated market values both with and with�olut establish�men�t of <br />the TIF District and the use of tax in�cre�me�n�ts assumes no development will occur on the <br />site with�olut assistan�ce�. T'h�e� site is controilled by a developer th�at oin�ly an�ticipate�s cre�atin�g <br />an affbirdable h�olusin�g project requirin�g assistan�ce. M assume the estimated market <br />value with�olut creation of the d�istrict would oin�ly in�crease at moist by an in�cremen�tal <br />inflationary amolun�t. e in�crease in estimated market value of the proposed development <br />(less the indicated subtractioln�s) exceed�s the estimated market value of the site absen�t the <br />est,2WIisWneit of fte 71FDistrict,-;.i10 fte tjse of t,2y itcrenetits. <br />(3) The TIF Plan conforms to, the gen�eral plan for development oir redevelopment of the City as a <br />whoile; and <br />T'h�e reasoins and facts suppoirting th�is finding are th�at the TIF District is properly zoined�, <br />and the TIF Plan h�as been approved by the City Planning Commission and will ge erally <br />colmplement and serve to, imple e poilicies adopted in the City's Coimprehensive Plan. <br />T'h�e TIF Plan will afford maximum o,ppoirtun�ity, co e e so eed • the City as a <br />whoile, for the d�evelopment • the Project Area by private enterprise. <br />e reaso pp• are th�at the development activities are <br />n�ecessary so, th�at development and redevelopment by private en�terprise can occur within <br />the Project Area. <br />Section K Estimated Public Costs <br />e estimated public costs • the TIF District are listed below. Such costs are eligible oir reimbursement from tax <br />in�cremen�ts • the TIF District. <br />Original Plan Modification 1 <br />July 13, 2009 June 18.2011 <br />Lamd�/Build�img acquisition $9131610 0 <br />Holusing Construction Costs 0 9351005 <br />Site Improvements/Demoilition costs 0 0 <br />Installation of public utilities 0 0 <br />Streets and sidewalks 0 0 <br />Boind/Noitce interest, imc. capitalized imteerest 110271207 110271207 <br />Ad�ministrativee eexpensees 2191461 280,228 <br />Otheer —Potential Affoird�ablee Holusing Costs 591337 4041798 <br />OM <br />$212191615 $216271233 <br />SPRINGS�TED Page 5 <br />