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0 Physical Redevelopment <br />Achieve residential tax base growth of $g.SM by 2019; C/I tax base growth of $5M by 206 <br />RESULTS <br />Total Residential Property Values (2011-2015) * <br />$1,400,000,000 <br />$1,300,000,000 <br />$1,200,000,000 <br />$1,100,000,000 <br />2011 <br />2012 2013 2014 2015 <br />Total Commercial/Industrial Property Values (20 <br />$340,000,000 <br />$330,000,000 <br />$320,000,000 <br />$310,000,000 <br />* Source: Ramsey <br />INTERPRETATION <br />2011 2012 2013 2014 2015 <br />As of October 1, 2015, three office projects' and an apartment building have been completed with a <br />total taxable market value of $28 million. Currently, a fourth office project is under construction for <br />APi's training center, consisting of 45,000 square feet. Additionally, Pulte Homes is in the process <br />of constructing 125 homes, consisting of 89 single family homes and 36 townhomes. Nearly 30 <br />building permits have been issued to date with construction ahead of schedule. Contractually, all <br />125 units must be complete by September 13, 2019. These projects, as well as anticipated future <br />expansion phases with CSI and APi, are expected to increase the tax base by another $56 million by <br />the end of 2018. <br />RESPONSE <br />City staff will continue to work with our partners (Ryan Companies and Colliers International) to <br />actively market the remaining sites (about 14 acres) in order to reach full build -out by 2022. The <br />single biggest challenge in securing development on the remaining sites, particularly the larger site <br />of Block B, is whether the City can obtain the appropriate approvals from the Minnesota Pollution <br />Control Agency. <br />2 <br />