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1 <br />B. Project Ex ansion - Tax Ca <br />acit <br />Market Value <br />Tax Capacity_ <br />Current Tax Capacity <br />$2,255,600 <br />$53,228 <br />Estimated Improvements: <br />Market Value <br />Tax Capacity <br />Land ($6.00/s.f.) <br />$ 2,150,000 <br />$112,875 <br />Building (220,566 s•f• @ <br />$55/s.f.) <br />12,131,000 <br />636,877 <br />52,500 <br />1,000,000 <br />Parking Ramp <br />250,000 <br />i3,125 <br />On -Site Improvements <br />$15,531,000 <br />$815,377 <br />TOTAL <br />C. Estimated Increment <br />x Existing Site <br />Projected Tax Capacity <br />$486,915 <br />Existing Tax Capacity <br />(423,915) <br />NET TAX CAPACITY <br />$ 63,000 <br />* Project E:.pansion <br />rrojected Tax Capacity <br />$815,377 <br />Existing Tax Capacity <br />(53,228) <br />NET TAX CAPACITY <br />$762,149 <br />CAPACITY <br />* NET TAX <br />$ 63,000 <br />Existing Site <br />Site <br />7621149 <br />Expansion <br />$825,149 <br />Tax Capacity % <br />x .96381 <br />i <br />■ <br />PROJECTED INCREMENT <br />$795,286 <br />SUMMARY <br />The project as proposed will <br />substantially enhance <br />the commercial <br />and retail development adjacent to Rosedale. <br />The City assistance, <br />is required to facilitate the acquisition <br />of the home <br />however, <br />sites and to provide for this expansion. The <br />developer is <br />to the project anO <br />will support the <br />City TIF assistance <br />committed <br />as required b City policies. <br />y Y <br />We appreciate your consideration of <br />this information. <br />-5- <br />