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One final comment regarding this project relates to our 15 percent TIF <br /> subsidy policy. If the finished market value of the project is $1 million, <br /> the city will far exceed the TIF 15 percent policy. This is due to the <br /> unique nature of the project and the fact that this 15 percent policy <br /> was generally intended to apply to economic development districts and <br /> not redevelopment districts. This issue and the local financial penalty <br /> will be discussed in detail when the TIF district is established. <br /> s:hra/523agmm <br />