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<br />2.2 Alternative #2 proposes 208 affordable senior apartment units in 3 story <br />buildings. Underground parking would be required. Oakcrest would be reconstruction <br />and re-routed through the south end of the site. Two commercial buildings (a total of <br />23,800 s.f.) would remain, facing Snelling. The project would add approximately <br />$15,800,000 in new value to the site. The average value of the apartment unit would be <br />slightly more than $75,000, including land. Over a ten year period slightly more than <br />$2.26 million in net new available TIF taxes would be generated. <br /> <br />M:\JAMESADD\JAMES1,SNO <br /> <br />4 <br />