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City of Elk River, Minnesota <br /> But For Analysis of Jackson Hills Residential Suites TIF Project <br /> March 24,2017 <br /> Page 8 <br /> return that the project as proposed is infeasible without some level of assistance absent changes to either the project <br /> cost assumptions, permanent debt assumptions and/or projected operating income. <br /> A reduction in the amount of assistance provided to the developer, resulting both from City objectives regarding <br /> public participation amounts and available increment, may require the developer to renegotiate the current acquisition <br /> price and/or look at other cost savings in the project. <br /> As shown in the estimated tax increment revenue section of this memorandum, there are projected to be surplus <br /> revenues available from this project that could be used to finance other eligible affordable housing projects within the <br /> City. Further discussion regarding how those surplus funds could be used, whether through a pooling program or on <br /> an annual basis, is recommended to occur. <br /> Thank you for the opportunity to be of assistance to the City of Elk River. Please contact me at 651.223.3036 or <br /> 651.368.2533 or mhuot(cDspringsted.com with any questions or comments. <br />