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� <br />U <br />• <br />;�' , ''' �.., <br />DATE: <br />TO: <br />FROM� <br />SUBJECT: <br />M E M O R A N D U M <br />March 22, 1990 <br />Representative Mary Jo McGuire <br />Steve Sarkozy <br />Tax Increment Request <br />Thank you for spending the time with me discussing tax increment <br />and Roseville's redevelopment effort. I reall� appreciated the <br />opportunity to discuss the critical r�ature of tax increm�nt for <br />Roseville. <br />Based on your request for information, I have deve].oped a list <br />for you that discusses the City's major projec�ts, the subsid� <br />provided, and the changes in taxes available t4 the City based <br />on the new development. The list includes the projects that are <br />currently in place and movir�g forward at this point in time. I <br />did not include any proj ects that are on the "drawir�g board" or <br />in conceptual stages. <br />Rosedale Commons Mall <br />Subsidy - $65,000 in City infrastructure <br />Original Taxes - $38,707 <br />New Taxes - $547,014 <br />Pavilion Place Mall <br />Subsidy <br />Original Taxes <br />New Taxes <br />Rosepointe Apartments <br />Subsidy <br />Original Taxes <br />New Taxes <br />Victoria Apartments <br />Subsidy <br />Origimal Taxes <br />New Taxes <br />Lido Restaurant <br />Subsidy <br />Original Taxes <br />New Taxes <br />- $65, 000 in �ity infras�tructure (joint <br />Rosedale Commons, Pavilion Project) <br />- $37,46� <br />- $423,915 <br />- $350,000 for ponding and land <br />preparation <br />- $49,627 <br />- $312,885 <br />- $50,000 site imprnvements <br />- $945. <br />- $11, 853� <br />-$200,000 for soil correction and right- <br />of-way purchase <br />- $1,969 <br />- $62,127 <br />Woodbridge/Centre Pointe <br />� Subsidy -$6.8 million to purchase and clear land <br />