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Another item discussed at the workshop was that of replacing the TIF funds committed to <br /> the business park with another source of funds. Attached with this memo is a one-page <br /> • summary of various revenue sources the Business Park Task Force discussed many <br /> months ago. There are nogreat revelations here. Following its review of the sources,the <br /> g g <br /> Business Park Task Force concluded that funds from various TIF accounts would be the <br /> most appropriate to assist in the development of a Business Park. This recommendation <br /> was presented to the City Council, and,the resulting action is found d in the City Council <br /> minutes of October 11, 1993. The conclusion here is that before any funds are shifted <br /> away from the Business Park, some assurances should be made that a similar pool,say, <br /> $430,000 is readily available to the Business Park from another source. <br /> Summary <br /> Clearly, proposed expenditures of TIF funds are greater than funds that are available. <br /> That is precisely the reason for this exercise of prioritizing the expenditures and gaining a <br /> consensus so that the City Council can contractually obligate itself to these expenditures in <br /> the near future. <br /> • <br /> • <br />