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Mr. David Loch <br /> August 11, 1998 <br /> Page 2 <br /> • <br /> Issue III The County believes that there is a glut of supermarket space in <br /> the community. <br /> Issues I, II, and III as stated above, bring to the forefront the county's <br /> perception that TIF No. 19 is being created to facilitate a commercial <br /> development. Although untrue, it is a valid point given that the TIF Plan <br /> which the County Commissioners received is not required to discuss the <br /> various alternative motivations of the City Council and Economic <br /> Development Authority. First of all, it is important to note that creation of <br /> TIF No. 19 (completed on July 13, 1998) does not guarantee any tax <br /> increment assistance to the developer. The creation of TIF No. 19 simply <br /> establishes the tool which the Economic Development Authority can use to <br /> provide an incentive to the developer to complete a project. There are two <br /> primary components of TIF No. 19: <br /> • 68 acre commercial development <br /> • 40 acre industrial park development <br /> The physical layout of the overall project is such that the industrial park lies <br /> on the southern 40 acres of the project area. The developer has indicated the <br /> • following in its tax increment request and subsequent discussions with the <br /> Economic Development Authority: <br /> • Due to extraordinary costs of site development, the commercial <br /> component of this project cannot proceed without the use of tax <br /> increment. <br /> • Should the commercial component proceed, the developer will agree <br /> to construct the 40 acre industrial park at the south side of the <br /> project area beginning with a 50,000 square foot building proposed <br /> to be under construction in spring 1999. <br /> • Developer will construct an additional approximately 350,000 <br /> square feet of industrial product over the next five-seven year <br /> period. <br /> Tax increment assistance, should the EDA decide to provide it, will only be <br /> used to pay for extraordinary costs of the overall development. The <br /> commercial project, when completed, will therefore be in no better or worse <br /> position to compete with other commercial projects in this area. <br /> I provide the following specific response to issues I, II, and III in the County <br /> Commissioner's letter: <br /> s <br />