Laserfiche WebLink
<br />SCHEDULE 1 TO EXHIBIT A <br />TO RESOLUTION NO. <br /> <br />REDEVELOPMENT WITHOUT TAX INCREMENT ASSISTANCE <br />Brighton Village Shopping Center site - minimal <br />rehabilitation of existing shopping center. <br /> <br />Beisswenger site - no redevelopment is anticipated <br />because the parcels are too small to be <br />developed individually for commercial uses and the <br />cost of assembling a developable site is prohibitive <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br /> <br />$2,500,000 <br />$2,190,290 <br />$ 309,710 <br /> <br />REDEVELOPMENT WITH TAX INCREMENT ASSISTANCE <br /> <br />Brighton Village Shopping Center site - demolition of existing <br />shopping center and construction of an 12,518 square foot <br />drug store, two retail buildings totaling 28,750 square feet, a <br />28,000 square foot medical office building, a 3,000 square foot <br />restaurant, and internal driveways, parking lots, ponds and <br />utilities for the site to be constructed in 2004 <br /> <br />Beisswenger site - demolition of the existing <br />structures and construction of a 41,362 square foot <br />retail facility to be constructed in 2004. <br /> <br />Estimated Fair Market Value <br />Original Market Value <br />Increased Market Value <br />Less: Present Value of the Tax Increment Generated <br />6.75% over the term of the TIF District <br />See Attached Exhibit 1) <br />Net Increased Market Value <br /> <br />$8,687,558 <br />$2,190,290 <br />$6,497,268 <br />$2,756,772 <br /> <br />$3,740,496 <br /> <br />G,\WPDATA\N\NEW BRIGHTON\32\TIF\COUNCIL RESOLUTION.DOC <br /> <br />7 <br />