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Last modified
2/16/2024 3:41:04 PM
Creation date
2/15/2024 3:30:23 PM
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Planning Files
Planning Files - Planning File #
1480
Planning Files - Type
Rezoning
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PROJECT VALUE AND FINANCING <br />The site in question is presently generating $32,927.62 in property taxes. <br />The value of the new shopping center as estimated by the Ramsey County Assessors <br />Of f ice will be � ) QJ 500 ©o <br />The development should generatd ---3 <3 ✓, 3 56VY - in property taxes, a net increase <br />of`, 322-alt-Jad, in tax revenue. <br />It is our intention to finance the project through conventional sources. The <br />construction loan will be placed with a major institution. The takeout will be <br />in the form of a private lender mortgage. <br />If conventional financing is not available we would wish to consider financing the <br />upper two levels of the center using Industrial Revenue Bonds. <br />m <br />
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