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deter ned that it is this difference of approximately $23.0 million resulting from additional acqui i ion, infrastructure improvements and environmental remediation costs that requir additional tax increment assistance. Please refer to Exhibit XXXV-D of the Subdi rict Plan for a detailed description of the necessary environmental remediation requir inding that the increased market value of the site that could reasonably be d to occur without the use of tax increment financing would be less than crease in the market value estimated to result from the proposed devel ment after subtracting the present value of the projected tax increments for the m ximum duration of the district permitted by the District Plan. ity staff has determined that without tax increment assistance it may be possible truct 219,000 square feet of office showroom, 35,000 square feet of commercial nd 165,000 square feet of two-story office space resulting in an estimated market f approximately $32,585,000. After deducting the original market value of ,200 from this estimated market value of $32,585,000, City staff has determined increased market value that could reasonably be expected to occur from a project g no tax increment assistance would approximate $22,148,800. ity staff has further determined that with tax increment assistance the redev lopment activities described in Item 2 above could be achieved with an estimated mark value of approximately $121,715,360. After deducting the original market value of $10,4 6,200 from this estimated market value, City staff has further determined that the incre ed market value that could reasonably be expected to occur from a project recei i g tax increment assistance would approximate $111,279,160. City staff has also determined that the total amount of tax increment generated e project using tax increment assistance over the 25 year term of the District imates $64,527,873. Assuming the same 25 year term and a present value rate of hich for financial analysis is assumed to be the bond rate, the present value of 7,873 approximates $29,461,681. After deducting the present value of the tax incre ent ($29,461,681) from the increase in estimated market value occurring as a result f utilizing tax increment assistance ($111,279,160), the net increase in estimated mark values approximates $81,817,479. City staff has further determined that the increased market value of the site that reasonably be expected to occur without the use of tax increment financing 8,800) is less than the increase in the market value estimated to result from the ed development after subtracting the present value of the projected tax increments maximum duration of the district permitted by the TIF Plan ($111,279,160 - $29, 1,681 = $81,817,479). Further information supporting this Finding is attached as Exhi i D. 8