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Financial Impact <br /> In the analysis compiled by Springsted,up to $1,288,590 in city tax abatement assistance is proposed to <br /> be distributed as "up front financing" for up to 20 years. This abates the entire city share of taxes on the <br /> property. It is expected that the county will participate,and their portion of the taxes would supplement <br /> the development fund income. Once the development fund received full reimbursement for the land, the <br /> abatement would end. If the county does not choose to participate in the abatement,it is not expected <br /> that the full value of the land cost of$1,288,590 would be realized over the maximum 20-year term of the <br /> abatement. <br /> Attachments <br /> • Tax Abatement Application <br /> • Springsted Analysis (June 23, 2015) <br /> • Business Subsidy Agreement <br /> • Property Tax Abatement Agreement <br /> • Purchase Agreement <br /> N:\Departments\Community Development\Economic Development\EDA\Administrative\Agenda\EDA Agenda Packets\2015\7-20-2015\6.1 sr <br /> Envision(Sportech)Property Tax Abatement.docx <br />