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• PublicoRD BNc. <br />P <br />n <br />P <br />1 <br />i <br />410 PlllsbURr CENTER <br />MINNEAPOUS, MN 55402 <br />1 <br />1 <br />1 <br />I <br />1 <br />1 <br />1 <br />J <br />1 <br />I] <br />1 <br />June 8, 1989 <br />Mr. Craig Waldren <br />City of Roseville <br />2660 Civic Center Drive <br />Roseville► MN 55113 <br />Dear Craig: <br />� � nran7 <br />JUIZI7✓►"7L7s- <br />As per your request► attached is the 1pdate information <br />regarding the Bradford Business Schoo <br />City of. Roseville. As you recall ► our most recent,: submittals <br />in <br />pt to <br />of December 16► 1988 were design�drealaestaterntransaction2e <br />the building of. the school fromoa�h► we all agreed that it <br />basis. In reviewing that app <br />would be better to attempt to analyze it fro a purees <br />tate <br />perspective in that ehof thatoehangeai�n analysis, the <br />development. BecauS <br />following corrections have been made to the attached computer <br />runs. <br />The first change to the tax incrementlfiinancing run is to <br />change the present value factor from' policies%.Th is and <br />change was accompli.:ylled to better <br />lect llresulted in the <br />procedures for the city of Roseville. This <br />tax increment amount available to the esent°vvaluefof55'000 <br />per year for ten years having a net pr <br />approximately $330,t,'7Q. Additiona���►-lnlalysisllyoufor <br />and I <br />calculating the taxes is based on <br />P <br />erforried together and reflects the old �a�nsw'r►�nnlc comparing <br />our o��i.niorl that In order to avoid con u <br />,revi.ously accomplished runs and this tr,lle► previouslythawshould <br />used <br />under. <br />continually analyze tl�e project rol�al�l not be <br />system. tie are assuml.rly that there will probably <br />si.gnifi.cant, cilr�nge when we rerun the cash f:l.ows when the <br />final tax law a s established. <br />attached are two pro f.ormas of the project indicating <br />Also, the returils to the project with and without tax increment. <br />1 rc, forma was to increase the <br />The first change to t 1e I' $700, OOQ in order to more <br />developer's equity contribution to , <br />correctly reflect city's policies and practices regarding the <br />use of tax increment financing. <br />The second change was to <br />increase the debt service i ilterc�st from osi �ofothe money under <br />to wore accurately reflect the actual of the <br />place. The total square feet. <br />the current market E Q00 square feet to <br />commercial. coml�oneilt �,ief lectreduc,theed from updated accurate plans as <br />16,146 square feet. to <br />2.�07 <br />