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R2006-94 APPROVING REDEVELOPMENT AGREEMENT WITH IP PLAZA LLC
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R2006-94 APPROVING REDEVELOPMENT AGREEMENT WITH IP PLAZA LLC
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Last modified
11/3/2015 8:20:50 AM
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11/3/2015 8:20:48 AM
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Resolution/Ordinance
Res Ord Num
R2006-94
Res Ord Title
APPROVING REDEVELOPMENT AGREEMENT WITH IP PLAZA LLC - KMART SHOPPING PLAZA
Approved Date
7/3/2006
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. <br /> . , . . � w�� : � � t.� PG12 �' <br /> , �n ; <br /> d. Municipal Sales Tax—Phase II $ N/A <br /> 3. Estimated Number of Permanent Jobs Created—Phase I 20 <br /> Estimated Number of Permanent Jobs Created—Phase II N/A <br /> D. Developer Share of TIF Proceeds <br /> l. Real Estate Increment Taxes <br /> All real estate tax increment. <br /> 2. Municipal Sales Tax <br /> Fifty(50) percent of Municipal Sales Tax , as follows: <br /> Phase I—50%, when added to incremental real estate taxes, shall <br /> not exceed eligible redevelopment costs. <br /> Phase II—To be determined. <br /> E. Real Estate Increment— Phase I <br /> Projected Total NEW Equalized Assessed Valuation $2,555,349 II <br /> Les : � <br /> s INITIAL Equalized Assessed Valuation $ 555,349 �, <br /> Projected Incremental Increase in EAV $2,000,000 <br /> Projected Annual Real Estate Incremental Taxes $179,856 <br /> F. Real Estate Increment—Phase II <br /> Projected Total NEW Equalized Assessed Valuation $ N/A <br /> Less: INITIAL Equalized Assessed Valuation $ N/A <br /> Page 19 of 29 <br />
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