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<br />this site, The 100 units would generate about $120,000 per year in new taxes, and can <br />reasonably be expected to pay no more than $5,000 per unit for the land ($500,000 <br />total). This leaves a gap of $700,000 in Everest land price (not including the Vault <br />Company) that would have to be picked up by another source, possibly TIF. <br /> <br />Staff Recommendation: <br /> <br />As is the normal city policy, the staff seeks discussion and direction from <br />the Council first on projects that may request TIF assistance prior to <br />beginning the land use application process, <br /> <br />Suaaested Council Action: <br /> <br />No formal action is needed; Council discussion and direction is sought. <br /> <br />Attachment: <br />Report by: Dennis Welsch, 490-2232 <br />Q:\PLANNI-2\EVEREST.DDR <br /> <br />2 <br />