EDSR MEMORANDUM 03-19-1998 - Laserfiche WebLink

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by the city in order to provide a funding source for those 41) costs determined to be borne by the city. • Developers cash flow shows the requested amount of tax increment subsidy can be provided to the developer in a total of 14 years. The TIF District being proposed can collect increment for up to 25 years. • Developers cash flow also shows, for the purpose of discussion, tax increment revenue stream in the amount of $80,000 per year for nine years which would be available in this scenario to meet various public improvement costs in this project, i.e.business park improvements. 5. Industrial Component-Pat Pelstring, Representing Associated Builders Pat Pelstring, Pelstring Capital Corporation, representing Associated Builders, will provide discussion on the topic of the industrial component of this mixed use project. To this point there has been no financial analysis of this portion of the project included in any of the submitted information from the developer. There are two key issues to keep in mind as we proceed with this discussion: • creating an industrial park is a primary goal of the EDA in this process • the boundaries of the TIF District should include as much of the proposed 40 acre business park as possible, so as not to limit thecity or developer regarding a funding source for the business park. A representative of Amcon will be at this worksession to discuss their possible involvement with the developer on the industrial component. There are three possible scenarios which have yet to be researched regarding the industrial component: • 100%private ownership and control • a public/private partnership • 100%public ownership and control. Staff has not taken any steps to research these various options, but would suggest that it appears some level of EDA control in this business park would be appropriate.