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12.02 Business Development Public Infrastructure (BDPI) Resolution
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06-02-2020 City Council Meeting
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12.02 Business Development Public Infrastructure (BDPI) Resolution
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Complete Table C to calculate increase in taxable property value.On the table, list business(es)that <br /> are identified and speculated and what the projected taxable values of their developed property(s) <br /> will be after one year and five years. List the current taxable value of what the project area is now <br /> (usually undeveloped land).Subtract the current taxable value from the total projected new <br /> (developed)property values to calculate projected increased in taxable value.Add additional rows ' <br /> to the table if necessary. <br /> TABLE C—Increase in Taxable Value of Property <br /> �1�5���i��d$ �'irsf Y�' �ili�iu�t�+d Ta�rab� �ive Ye�r - E��e�! Ta�table< <br /> ��Mi�ed ,.t. ons� i�att�e+� Valu�e�rf Pt��e�t <br /> TOTALS <br /> -Current Taxable Value <br /> =Increased Taxable Value ' <br /> • Provide A letter from the county auditor's office documenting the current and projected <br /> estimated market values. ' <br /> • Is there any additional substantial economic benefit provided to the county or city from the , <br /> Eligible project not explained in Part 1 or Part 2? <br /> Not Relocating a Minnesota Business <br /> • Is the project relocating substantially the same operation from another location in the state? If ' <br /> yes, please explain why the project cannot be reasonably accommodated within the county or ' <br /> city in which the business is currently located. <br /> Creating or Retaining Full-time lobs <br /> • How many full-time jobs will be created and retained by identified business(es)? <br /> • How many full-time jobs will be created and retained within 5 years by identified and <br /> unidenti�ed business(es)? ' <br /> Please complete Table A.Add additional rows to the table if necessary. <br /> TABLE D—Created and Retained Jobs ' <br /> Business{es) ' -�irst Year < After 5 Years ; <br /> Jobs iobs <br /> �� <br /> ', <br /> TOTALS I <br /> � <br /> � <br /> Project Financial Information i <br /> Use the following example format for the Public infrastructure project sources and uses budget. Add rows � <br /> or columns as necessary. A final sources and uses outline will be provided to awarded projects by DEED ! <br /> with a grant agreement. ( <br /> i <br /> j <br /> 7 � <br /> I <br />
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