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<br />. <br /> <br />. <br /> <br />. <br /> <br />· Approximately $1 million to acquire the Brown and Kirkeide <br />business park properties lying south of TIF District No. 19. <br /> <br />Also, an additional approximately $4 million in tax increment proceeds are <br />proposed to be used to pay interest charges on various tax increment general <br />obligation bonds, and pay-as-you-go notes issued to fund the expenditures <br />identified above. The tax increment expenditures proposed break down as <br />follows: <br /> <br />. Developer incentive - $ 2.9 million <br />. City costs - approximately $ 3.5 million <br />. Interest costs - approximately $ 4 million <br />. Total $10.4 million (approx.) <br /> <br />At the present time staff is working with Dave MacGillivray of Springsted, <br />Inc. to complete various TIF cash flows based upon the following scenarios: <br /> <br />. Approximately $10.4 million in costs to be funded through tax <br />increment revenues. <br />· Approximately 140,000 square feet of commercial space completed <br />within TIF District No. 19 in 1999. <br />· Approximately square feet of additional commercial <br />space to be completed in the year 2000. <br /> <br />Staff proposes to complete an administrative modification to the boundary of <br />TIF District No. 19, and the budget within this TIF District, at the <br />completion of the negotiation. <br />