Laserfiche WebLink
� y ♦ <br /> Memorandum#02-23 <br /> June 11,2002 <br /> Page-2- <br /> STAFF REFERENCE: <br /> If Council members have questions they may contact A.J. Krieger, Assistant City Manager, or <br /> Linda Love, Neighborhood Services Director. <br /> BUDGET/TIME IMPLICATIONS: <br /> The City anticipates using up to $8,430,000 in Section 108 Loan Proceeds to finance the majority <br /> of the City's contribution toward Near North infrastructure improvements; including all of its <br /> Phase 1 contribution. The City is not pledging any current General Fund revenues to repay this <br /> debt. The City anticipates using incremental property tax revenue generated by the new <br /> development as well as a portion of its annual CDBG entitlement to repay the 108 debt. <br />