02/22/99 Thelen/Anticipated Tax Increment FundsMEMO
C
To: Mayor and Ci , Council
From: Al Thelen �.
Date: February 22, 1999
Anticipated Tax Increment Funds for the Airport Urban Renewal Project
Haven: This Developers Agreement requires the developer to start paying the City $124,000
annually for ten years starting in FY2000 if the tax increment on this project does not generate this
amount.
Rosauers: This Developers Agreement requires the developer to starting paying $142,000 on
January of 2001 if the tax increment does not generate this much.
City Attorney Glen Neier and I have projected that the sale of Daley Field, parts 2 and 3, will
generate a minimum of $1,500,000.
The City Airport/Athletic Complex Redevelopment Plan contains a pro forma that demonstrates a
$2,337,300, 15-year bond issue that can be supported by an annual bond or interest payment of
$240,655. The Haven Field and Rosauers developments alone will be able to fund this issue in the
year 2001.
Post Office Box 1997 • Kalispell, Montana 59903-1997
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