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R2011-150 AUTHORIZING REDEVELOPMENT AGREEMENT
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R2011-150 AUTHORIZING REDEVELOPMENT AGREEMENT
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Last modified
8/31/2015 3:26:00 PM
Creation date
8/31/2015 3:25:56 PM
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Resolution/Ordinance
Res Ord Num
R2011-150
Res Ord Title
AUTHORIZING REDEVELOPMENT AGREEMENT JACKSON FORD, INC. AND JACKSON FAMILY LIMITED PARTNERSHIP 455 EAST PERSHING ROAD
Department
Development Services
Approved Date
9/19/2011
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�I <br /> Exhibit 2 <br /> y The obligation for the annual reimbursement of Project Costs shall terminate upon the receipt by the <br /> m Redeveloper of an amount equal to Fifty(50%) Percent of the Final Project Costs as submitted to the City <br /> per Section 4.2 of this Agreement. The combined reimbursement from the Real Estate Tax Increment <br /> and the Sales Tax Increment shall not exceed $2,093,002, or Fifty (50%) Percent of the final Project <br /> Costs as submitted to the city per section 4.2 of this Agreement, whichever is less. <br /> ,.r <br /> E. Real Estate Increment <br /> s Projected Total NEW Equalized Assessed Valuation $1,572,505 <br /> 0 <br /> 0 <br /> M Less: Initial Equalized Assessed Valuation $319,453 <br /> Projected Incremental Increase in EAV $1253052 <br /> Projected Annual Real Estate Incremental Taxes $15,246 <br /> City of Decatur/Jackson Ford Redevelopment Agreement 22 <br />
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