Laserfiche WebLink
114 The current TIE district balances are as follows: <br />District <br />Name <br />Expiration <br />Balance <br />10 <br />The Lexington <br />2014 <br />$495,387 <br />11/11A <br />Old Twin Lakes <br />2016 <br />$765,016 <br />12 <br />NCR A lewood <br />2016 <br />$716,480 <br />13 <br />College Properties <br />2018 <br />$1,868,841 <br />17 <br />Twin Lakes Phase 1 <br />2031 <br />$1,706,268 <br />18 <br />Sienna Green <br />2038 <br />$17,842 <br />19 <br />Applewood Pointe <br />2020 <br />$1,261 <br />115 <br />116 The current TIE districts are carrying future obligations for the following expenses: <br />117 District 10 <br />118 The remaining TIE balance in this district is obligated to the Dale Street housing development. <br />119 District 11 <br />120 The entire balance in this district is all contained in the Hazardous Substances Subdistrict (HSS). <br />121 HSS funds are limited to use for issues related to pollution including removal and remediation; <br />122 testing, demolition and soil compaction; purchase of environmental insurance or creating <br />123 guaranty fund to indemnify against environmental liability; as well as administrative and legal <br />124 Costs. <br />125 District 12 <br />126 The remaining TIE balance in this district is obligated to the Dale Street housing development. <br />127 Disctrict 13 <br />128 This district does not have defined project obligations at this time and is limited in its geographic <br />129 scope to just being in the Eagle Crest/College Properties area. However, it is anticipated that <br />13o future projects will likely be defined in this area related to transportation improvements. The <br />131 area has a lot of projected change with the extension of Twin Lakes Parkway, a future BRT <br />132 station and the ongoing issues related to pedestrian safety crossing Snelling Avenue. <br />133 District 17 <br />134 The entire value of this district balance is in HSS funds. <br />135 Although there are funds in the District 17 regular account, they are obligated to $5.1 million in <br />136 infrastructure funding and $1.9 million as a potential acquisition liability for the Xtra Lease <br />137 parcel. (This district is currently funding the Cleveland/1-35W interchange project). If both the <br />138 infrastructure and the Xtra lease obligations were to occur as projected, the projected regular TIE <br />139 deficit from 2014 — 2031 is ($2,798,096). Of course, this is an area undergoing active <br />14o redevelopment which should increase TIE revenues significantly between now and 2031 that are <br />141 not included in the calculations. <br />142 District 18 <br />143 This project specific district (Sienna Green) does not generate large account balances <br />Page 4 of 5 <br />