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!.f � ;[^ � . � . � . <br />� <br />� <br />� <br />U <br />THUS <br />$825,000 - Developer Land Costs <br />- $459,000-543,000 Fair Market Value - no assistance needed <br />$282,000-366,000 - Tax Increment rec�ues� <br />The �'but for" is then based on the difference bet�a�en the <br />developer's land value costs vs, the fair market values that <br />would allow the project to proceed without assistance. rn <br />effect, "but for" the $282,000-$3�6,000 in assistance ia close <br />the financi�g gap, the project would not proceed. <br />It appears that the increment from the sites w�uld be in the <br />range of $100,000. Assuming that a proper district could be <br />formulated in this area and ba�ed on a pay as you go approach, <br />the City could meet its obligations, with interest, within a 4-5 <br />year time period. <br />\ <br />�. <br />