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, <br />M E M O R A N D U M <br />DATE: June 29, 1989 <br />TO: Steve Sarkozy <br />FROM: Craig A. Waldron <br />SUBJECT: Bradford request for tax increment - work session item <br />Summary of Proposal (Proposal attached) <br />00 <br />Bradford (Minneapolis Business College) is requesting 3on�ots <br />from the City of Roseville to lfacilitates°to build correction a 12 unit <br />proposed site. The school proposing <br />townhouse project for tl�e female students as well as a 16,000 sq. <br />foot school facility. Bradford trains people for secretarial <br />ial <br />careers. The staff has asked Bradford to p via f In that <br />analysis in order to justify the increment request. <br />light, the school has offered the following as part of its <br />proposal: <br />epicting return on equity with <br />a. A projected cash flow d <br />and without TIF. <br />available increment and the payout <br />b. A projection of <br />based on a "pay as you go ll approach. <br />C. Estimates regard ng sof 1 <br />d, A general statement"butt for"o TIF the project will <br />not proceed. <br />Staff also requested information in terms <br />school in nomicll�returns to <br />the City based on the presence of the <br />Bradford has projected the following economic development <br />benefits to the City. <br />a. The business school would produce 45 direct 'obs in the <br />City. <br />b. The school would result in $707 53 in direct economic <br />benefit and 6 502►27 would stimulate rea wide benefit. <br />anfadditional 170 <br />C. The business col ege <br />jobs in the area. personnel for <br />d. The business college provides support p <br />local corporations. <br />Based on the staff review of the data provided by Bradford, it <br />has been determined that the project warrants Council <br />consideration based on preliminary analysis Of <br />financial <br />lt on the C need and <br />the potential merits in terms of economicimp <br />Issues <br />The basic <br />project are <br />issues that need to be addressed relating to this <br />as follows: <br />