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. The modifications below are intended to replace specific sections of the Tax Increment <br /> Financing Plan for Tax Increment Financing District No. 5, adopted by the Council on June <br /> 20, 1988. Please refer to the complete Tax Increment Financing Plan, available from the <br /> office of the Economic Development Director, City of Elk River. <br /> F. 7. Estimate of Project Costs. <br /> The estimate of public costs associated with District No. 5 are outlined in the <br /> following line item budget. This estimate of public costs is intended to <br /> supplement any previous estimate of project costs found in the Tax <br /> Increment Financing Plan for Tax Increment Financing District No. 5, <br /> adopted by the City Council on June 20, 1988. The following costs only <br /> include costs for projects that have not yet been started. Costs for completed <br /> projects within the District that have been completed are not included. The <br /> budget below is intended to authorize additional expenditures over and <br /> above any expenditures made in any category as of the date of this <br /> amendment. <br /> Estimate of Public Costs - Project Cost Summary <br /> 1. Land Acquisition and Public Improvements Costs: $225,000 <br /> • TOTAL: $225,000 <br /> Administration costs to cover city staff and overhead and various consulting fees in an <br /> amount not to exceed ten percent of total tax increment may also be funded with tax <br /> increments from District No. 5 in addition to above-mentioned costs. <br /> • <br />