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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 /> <br />Attachments <br /> <br /> <br /> <br />Tax Abatement Application <br /> <br /> <br />Springsted Analysis (June 23, 2015) <br /> <br /> <br />Business Subsidy Agreement <br /> <br /> <br />Property Tax Abatement Agreement <br /> <br /> <br />Purchase Agreement <br /> <br />N:\\Public Bodies\\Agenda Packets\\07-20-2015\\Final\\x7.3 at1 Envision (Sportech) Property Tax Abatement EDA MEMO.docx <br />