FAQs: Frequently Asked Questions

What is the $7M line item for Land Acquisition in the TIF Plan and is the developer expecting to get reimbursed for that with public incentive money?

The developer is attributing $7M to the value of the South Phase land it will receive from the City for purposes of its financing and budgets.  However, the amendment specifically says that the developer is not receiving any public incentive for that line item and it is also specifically factored out of the $105M overall project cost number for purposes of evaluating whether the City is putting in the additional $6M on the Public Financing Cap.