HRA Agenda 11-02-1988AGENDA
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, November 2, 1988 - 7:00 P.M.
City Hall
MEMBERS: Chairperson Ken Maus, Lovell Schrupp, Ben Smith,
Al Larson, and Everette Ellison.
City Staff: Rick Wolfsteller, Jeff O'Neill, and 011ie Koropchak.
1. CALL TO ORDER.
2. APPROVAL OF THE OCTOBER 5, 1988 HRA MINUTES.
3. CONSIDERATION OF BUSINESS DEVELOPMENT SERVICES, INC. UPDATE
AND EXECUTION OF THE AGREEMENT BETWEEN BDS AND THE MONTICELLO HRA.
b. CONSIDERATION OF APPROVAL OF THE CERTIFICATE OF COMPLETION AND
RELEASE OF FORFEITURE OF THE CONSTRUCTION FIVE DEVELOPMENT AGREEMENT.
5. CONSIDERATION OF CONCEPT FOR A TAX INCREMENT FINANCE PLAN PROPOSAL
FOR NORTHERN STATES POWER.
6. CONSIDERATION OF CONCEPT FOR MODIFICATION PLAN 02 OF TIF PLAN FOR
REDEVELOPMENT DISTRICT 05.
i
Li 7. CONSIDERATION OF CONCEPT TIF PROPOSAL FOR A FOOD PROCESSING PLANT.
8. CONSIDERATION OF USE OF TIF FOR MARTIE FARM SERVICES.
9. CONSIDERATION OF TIF DISTRICT 02 UPDATE.
10. CONSIDERATION FOR DISCUSSION OF TWO PRELIMINARY PROJECTIONS OF
FLOYD MARXLING AND JIM METCALF.
11. OTHER BUSINESS.
12. ADJOURNMENT.
V
MINUTES
MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY
Wednesday, October 5, 1988 - 7:OOAM
City Hall
MEMBERS PRESENT: Chairperson Ken Maus; Lowell Schrupp; Ben Smith;
Al Larson; Everette Ellison; and 011ie Koropchak,
BRA Director.
CITY STAFF PRESENT: Rick Wolfateller and Jeff O'Neill.
GUEST: Pat Pelstring and Deborah Grams, Business Development Services, Inc.
1. CALL TO ORDER.
Chairperson Ken Maus called the HRA meeting to order at 7:10 AM.
2. APPROVAL OF THE SEPTEMBER 7 AND 16, 1988 HRA MINUTES.
Everette Ellison made a motion to approve the September 7
and September 16, 1988 HRA minutes, seconded by Al Larson.
With no further discussion, the minutes stand approved 5-0.
3. CONSIDERATION OF TAR INCREMENT FINANCING PROPOSAL TO ASSIST
THE CITY OF MONTICELLO HOUISNG AND REDEVELOPMENT AUTHORITY.
Jeff O'Neill summarized that the direction of the HRA was
�.
for staff to research and contact firms for a request for
proposals to 1) combine the current seven districts into one
district, 2) expand the Central Monticello Redevelopment Project/
Plan boundaries, 3) analyize and summarize what funds can be
used for, and 4) research and inform of any greater potential
use for tax increment finance. Jeff explained the consideration
to hire experts in TIF would allow expanded uses of TIF, allow
input for the staff and HRA, and be a training for staff members.
Mr. Pat Palstring of Business Development Services, Inc. (BDS)
informed the HRA of BDS expertise areae, communities of which
they have contracts, and a general background of the company.
He continued to outline the scope of services as presented
in the written RFP. One, to assist the City/HRA in a TIF projects
from the beginning including working with the developer through
bonding process. Mr. Palstring approach is for the HRA to
be an calf -supporting enterprise. Using Vadnais Heights
as an example: Increment was sufficient to allow a $100,000
bond issue, however, proposed upfront project was $75.000
grant and a $25,000 low interst loan. Second, scope of services
was the combining of the current seven TIF Districts into one
Development District and expansion of the Project/Plan
boundaries. Mr. Poletring felt quite confident in tho ability
to establish one Development District. Next, Mr. Palstring
outlined the face associated with the above servlres:
one, establishing of TIF Projects $3,850.00 plus $850 for documents. Second,
ongoing consulation services for Development District Combination
and expanded boundaries of the Project/Plan at a rate of $75.00
per hour estimated at 35-45 hours to include workshops, feedback,
and analysis of potential use of TIP. Mr. Palstring informed
HRA Minutes - 10/5/88
3. CONTINUED.
the HRA members that the fees didn't include any legal or bond
counsel coats which would be billed separately by Holmes and
Craven. Travel time allowed is one-half to one hour depending
on location of departure. A motion by Ban Smith was to contract
Business Development Services for the combining of the current
seven TIP Districts into one Development District and the expansion
of the Central Monticello Redevelopment Project/Plan boundaries or
Phase I at $75.00 per hour. Seconded by Lowell Schrupp, further
discussion was the BRA would consider Phase II, Establishment
of TIP Projects, of the RFP after the completion of Phase I.
The motion passed 5-0.
6. UPDATE ON TAX INCREMENT REDEVELOPMENT DISTRICT /2 PROJECT.
The HRA reviewed the final Modification Plan /3 for Tax Increment
Redevelopment District /2. Ken Maus made a suggestion that if
the City Mils projected to increase 5 mills or more that the
HRA allow th ift alternative to withdraw their 1/2 mill request for Budget'BS
based on an agreement if the HRA is in need of the :65,000 gap
for the Modification Plan 3/ Project, the City will loan the monies.
Motion was seconded by Al Larson, with no further discussion, the
motion passed 5-0.
S. OTHER BUSINESS.
Based on the information that the Topel's were not interested in
the upgrade of Block 51 alley and were not opposed to the closing
of the alley by Metcalf and Larson the HRA withdrew from any
further negotiations with Block 51 property owners.
6. ADJOURNMENT.
Al Larson made a motion to adjourn the HRA meeting, seconded by
Lowell Schrupp, the HRA meeting adjourned.
011io Koropchak
HRA Executive Secretary
C
HRA AGENDA - 11/2/89
3. CONSIDERATION OF BUSINESS DEVELOPMENT SERVICES, INC. UPDATE
AND EXECUTION OF THE AGREEMENT BETWEEN BDS AND THE MONTICELLO HRA.
A. REFERENCE AND BACKGROUND.
At the last HRA meeting, a motion was made to enter into an agreement
with BDS for the combining of the current seven TIF Districts
into one Development District and the expansion of the Central
Monticello Redevelopment Project/Plan boundaries. Pat Pelstring,
Rick Wolfsteller, Jeff O'Neill and 011ie Koropchak met on
October 26th and reviewed the revised agreement between the
BRA and BDS for the proposed BDS services. A copy of the
revised agreement will be presented for execution at the HRA
meeting. Please note the estimated increase in hours, not
to exceed 65, compared to the verbal estimated hours of 35-45
hours ($3.375 to $4,875). Scheduled time frame: Wednesday,
December 7, 1988, 7:OOPM HRA Workshop, approval of modification, request for
public hearing; Monday, December 12, 1988, Council sets.public
hearing date for January 9, 1989; Tuesday, January 3, 1989,
Planning Commission approval of modification; and January 9, 1989,
Public Hearing held for modification of the Monticello Development
Districts TIP Plan.
4. CONSIDERATION OF APPROVAL OF THE CERTIFICATE OF COMPLETION AND
RELEASE OF FORFEITURE OF THE CONSTRUCTION FIVE DEVELOPMENT AGREEMENT.
A. REFERENCE AND BACKGROUND.
Since Construction Five has completed the two apartment complexs
(24 unit and 30 unit) as written in the Development Agreement
and since Gary Anderson has issued an occupany permit. I suggest
the HRA adopt a resolution for the approval and execution of
the Certificate of Completion and Release of Forfeiture.
C: ►
9iafnen Development SeMces Inc.
AGREEMENT BY AND BETWEEN BUSINESS DEVELOPMENT SERVICES INC.
and the
CITY OF MONTICELLO
HOUSING AND REDEVELOPMENT AUTHORITY
This Agreement made and entered into on the _ day of
October, 1988, by and between the Housing and Redevelopment
Authority of the City of Monticello, a Minnesota Municipality,
(hereinafter referred to as "RRA"), and Business Development
Services, Inc., a Minnesota corporation (hereinafter referred to
as "BDS").
WHEREAS, the City of Monticello believes that communities
are dynamic in the sense that they are constantly changing) and
WHEREAS, the City of Monticello believes that the economy of
its community is shaped by its active economic development
programs and
WHEREAS, the City has initiated its economic development
program through its Housing and Redevelopment Authority and
utilises Tax Increment Financing as a key component of its
economic development programs and
WHEREAS, BOB seeks to assist the continued growth of the
City of Monticello to provide economic development services
and technical, professional assistance for its Housing and
Redevelopment Authority and its Tax Increment Financing program.
9090 WRU1 &V= OM • SIM 230 • W0181POIIf, MN SM 0 MM 61V7868131
NOW, THEREFORE, BASED UPON THE MUTUAL PROMISES AND
CONSIDERATIONS CONTAINED HEREIN, THE PARTIES HERETO AGREE AS
FOLLOWS:
I. SCOPE OF SERVICES
Business Development Services will modify the Housing and
Redevelopment Authority's existing Development District
Plan and Tax Increment Financing Districts to provide the
opportunity for the sharing of revenues from District to
District. In addition, the modifications will include
additional property which the HRA seeks to include in its
Development District.
BDS agrees that as a part of this process it shall perform
e
the following functions:
A. Initiate the technical modifications of existing
documentation to meet the above-refererenced
specifications.
B. Conduct one or more workshops with the existing
HRA personnel to determine their preferences and
policies for the use of Tax Increment Financing.
C. To complete the development of overall policies and
procedures for the HRA's intended use for Tax
Increment Financing.
-2-
D. To analyze the existing TIF bond documents and
r financial commitments to determine the financial
options for the BRA.
E. To coordinate these activities in conjunction with the
City's bond counsel and fiscal consultant as necessary.
F. To complete the modications of existing Tax Increment
Financing Plans based upon the projects currently in
process.
G. To provide ongoing reporting to the appropriate HRA
personnel and City Council as required.
II. PAYMENT FOR SERVICES
A. The HRA agrees to compensate BDS at a rate of $75.00
m
per hour, plus direct expenses for professional staff
time devoted to acitivies as described in Section I.
BDS hereby agrees that the hourly commitment to meet
the services as described in Section I shall not exceed
65 hours ($4,875).
B. Payment for consultation services shall be billed on a
periodic basis and due within 30 days of receipt.
III. ADDITIONAL PROVISIONS
A. The HRA and BDS reserve the right to terminate this
Agreement upon 30 days written notice.
-3-
B. BDS will endeavor to complete the services as out-
lined in this contract according to the following
schedule:
Preparation of Draft Development
Program/TIF Plan 12/02/88
Presentation of Plan and Review with
HRA 12/07/88
Submittal of Plan to County and
School Districts 12/09/88
Review with City Council and call for
Public Hearing 12/12/88
Public Bearing and Plan Approval 01/09/89
Final Report and Policy recommendations 01/25/88
C. Each party to this Agreement binds himself and his
partners, successors, executors, administrators, and
`b assigns to the other party of this Agreement and to the
partners, successors, executors, administrators, and
assigns of such other party, in respect to all
covenants of this agreement. Except as above, neither
party shall aseign, sublet, or transfer his interest in
this agreement without the written consent of the
other. Nothing herein shall be construed as creating
any personal liability on the part of any officer or
agent of any public body which may be party hereto, nor
shall it be construed as giving any rights or benefits
hereunder to anyone other than the parties to this
Agreement.
-4-
E
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first above written.
CITY OF MONTICELLO
HOUSING AND REDEVELOPMENT
AUTHORITY BUSINESS DEVELOPMENT SERVICES INC.
BY BY
ITS Michael J. Mulrooney, President
ATTEST BY
ITS Patrick W. Pelstring, Vice President
.5-
TAX CAPACITY FINANCE PROPOSAL
CITY OF MONTICELLO
on behalf of
voRTHERN STATES POWER
ASSUMPTIONS:
1. A 5,460 square foot facility will be erected and completed by
December 31, 1989.
a. 1,260 sq. ft, office (42 x 30)
b. 4,200 sq. ft. metal heated storage (42 x 100)
2. SITE: Westerly 3.22 acres of Lot 4, Block 3, Oakwood Industrial
Park, City of Monticello, Wright County (218 x 645)
140,610 sq. ft.
3. Tax Capacity District is certified in February of 1989.
4. Tax Capacity Bonds issued in March, 1989.
COST PROJECTIONS:
LAND ACQUISITION WITH IMPROVEMENTS $ 26,400 ($8,198.75 per acre)
PLAN/DEVELOPMENT 3,500
ADMINISTRATION 500
CAPITALIZED INTEREST (24 mos) 4,800
TOTAL COST PROJECTION $ 35,200
LESS WRITE DOWN (TAX CAPACITY) 30,000 89 over 8 yearn
GAP $ 5,200
+►►►►•►sr►►r►•►su ► u•••aa sa ►►•as►a ►►►►►ansa►♦•aaa►a•ss►•aa►►ar•►►►uuas►+•++•
TAX CAPACITY PROJECTIONS:
A. ESTIMATED MARKET VALUE $183,613.00
B. CURRENT TVI CAPACITY $ 7,647.87
C. BASE TAX CAPACITY $ 734.54
D. TAX CAPAC?TY PERCENTAGE 90.39558
E. TAX CAPACITY $ 6,766.49
P. ANNUAL ADJUSTED TAX CAPACITY $ 5,361.78
G. ANNUAL DEBT SERVICE $ 5,220.60
C0I3CLUSION:
With the Annual Adjusted Tax Capacity, based upon the assumed project
would allow consideration by the Monticollo Housing and Redevelopment
Authority (HRA) to tranofor land for $5,200.
���• /may City o/ montiAo
MONTICELLO, MN 55362.9248
v
Fens (612) 2912711 October 25, 1988
Metro (812) 233-SM
Ae1o: Mr. Ernie Hiatt
Aral Gyms 10 Northern States Power
Nry Councu: Box 808
Dan Fran Four St. Cloud, MN 56302
WdUm Fair
Ween srmtn Dear Mr. Hiatt:
This letter follows the meeting held October 12, 1988 between City
Admit
Staff and NSP representatives, at which time elements of a proposal
Rick W01100 r
to relocate the NSP service center to the Oakwood Industrial Park
Aeaietem Admini°f6t l
Ptamm�g a Zwft:
area were discussed. As a result of the discussion and subsequent to
Jeff O'Neill
additional staff research, the City of Monticello Staff has developed
pubpc Works;
a refined proposal which outlines a proposed agreement pertaining to
JohnS+nwn
city acquisition of the existing NSP facility and city participation
BuildingOmew:
in development of a new NSP service center located on the westerly
Gary An°e/0n
portion of Lot 4, Block 3 in the Oakwood Industrial Park area.
Economic DwooloPAem:
Please be reminded that this is a staff proposal only and that
04114 Koropcna4
decisions regarding this matter will be made by the appropriate
governing bodies at a later date.
Existing NSP Facility Purchase Price
The City proposes to purchase the existing NSP facility for an amount
equal to the appraised value of the property and structure. A recent
appraisal conducted by Maxwell Realty indicated that the appraised
value of the existing NSP facility and property is 875,000.
Proposed Site for NSP Relocation
It is proposed that NSP develop a parcel created with the proposed
subdivision of Lot 4, Block 3 of the Oakwood Industrial Park area.
The suitable parcel created would have an area of 3.2 acres, a lot
frontage of 218 feet and a lot length of 645 feet.
Application of TIP/Ponding Gap Remains
The proposed price of this portion of Lot 4, Block 3 in addition to
administrative costa associated with tax increment financing amounts
to 835,200. The city proposes to apply the maximum amount of TIP
funds created by the project toward the purchase of the property and
payment of administrative costs. Unfortunately, it will be very
difficult to write the coat of even 3.2 acres down to $1 as you had
desired. However, by reducing the size and cost of the property and
250 Esu 810eewey
nnoo
_onaeemi
ei•o24e
October 25, 1988
r !!r. Ernie Hiatt
Northern States Power
PAGE 2
by reworking the numbers based on the expected tax capacity of the
proposed improvements, we are able to cane close to closing the
funding gap. The TIP funds generated by the project will equal
$30,000 over eight years which results in a funding gap of $5,200.
It is proposed that NSP fund this gap. In addition, NSP will be
asked to enter into an agreement with the City that fixes taxes
associated with the development at a level that will assure the City
that sufficient funds will be generated on an annual basis to retire
the $30,000 debt.
Site Restrictions Associated with Lot 4, Block 3
An you can a" on the attached map, a natural gas pipeline easement
passes through a portion of the property, therefore all restrictions
associated with natural gas pipeline wuuld apply to this property.
In addition, State statutes require that hazardous materials cannot
be stored within 150 feet of the city well. Finally, the City must
own and control property within 50 feet of the observation and
municipal well. The possibility of providing additional width is
possible but, it would mean abandoning of an observation well value
at 05,000. Again, please see the attached map for a graphic
description of the encumbrances associated with Lot 4, Block 3.
Summary
The City has worked hard to develop a proposal that will both meet
your present and future need for space while being sensitive to your
budgetary constraints. It is our view that this proposal moves us
toward the objectives of both organizations and establishes a base
for further discussion and decision making. Staff hopes that you
concur with this easesament. I along with the rest of City Staff
look forward to your comments.
As always, if you should have any questions, please call.
Youre Truly,
Jeff O'Neill,
Assistant Adminietrator
JO/vb
Enclosure
n
October 27, 1988
V
Nm tnem States Power Company
41NSI Liao
M�nneaPWD". NmrW$= 55e0t
TeWohwe 16121770.5500
Mr. Jeff O'Neill
Assistant Administrator, City of Monticello
Monticello, Minnesota 55362
Dear Mr. O'Neill:
This is in response to your letter of October 25, 1988, and confirms our
discussion to your office on October 26, 1988.
Most of the terms and conditions outlined in your letter are correct and
accurate with the following exceptions:
1) Paragraph 2 entitled "Existing NSP Facility Purchase Price"
must be amended to include the following language. The
conveyance of the property by NSP is subject to the approval of
NSP's Board of Directors which approval will be secured within
30 days of NSP's and the City's mutual acceptance of the terms
herein. The NSP property is subject to a Trust Indenture and
several Supplemental Trust Indentures between NSP and Harris
Trust and Savings Bank. NSP's agreement to convey the property
to the City is subject to that indenture which NSP agrees to
have released within 90 days after the delivery of a"Warranty
Deed to the City.
2) Paragraph 4 entitled "Application of TIF/Funding Gap Remains"
must be amended to reflect a payment of $1.00 by NSP for the
proposed portion of Lot 4.
It is my opinion, and the opinion of representatives 1n NSP's real estate
area, that the West one-half of Lot 4 is severely encumbered by the
pipeline easement and other restrictions, thereby reducing the use and
value of the parcel. Therefore, under the circumstances, there should be
only the $1.00 consideration.
I
f these changes are acceptable to the City Staff, please amend your
letter to include the above chances. I further suggest you include a
signature block for my signature which would indicate NSP's agreement to
the terms of the letter. I will then sign and return a copy of the
letter to you. While NSP is aware of the pipeline easement and the
encumbrance due to the wells, we will reouire an updated Abstract of
Title and our final acceptance will be subject to Marketable Title. The
DJF102788JI
L"I
j
Mr. Jeff O'Neill im"M StetesPower Company
October 27, 1988
Page 2
same condition will naturally apply in reverse to the NSP property. In
regard to real estate taxes and special assessments, each party will pay
the 1988 (payable) real estate taxes and the entire balance of special
assessments on the presently owned parcels prior to closing.
Yours truly,
i
W. E Hiatt
DJF102788JI
TAX CAPACITY FINANCE PROPOSAL
1 CITY OF MONTICELLO
on behalf of
CONSTRUCTION FIVE
MODIFICATION 02
PHASE I - 1989
18,180 sq ft Office/warehouse (9 -bays) @ $25.00 $454,500
PHASE II - 1990
13.900 sq ft Office/warehouse (7 bays) @ $25.00 $347,500
5.600 sq ft Mini storage (block) @ $20.00 $112,000
8,400 sq ft Mini storage (block) @ $20.00 $168,000
TOTAL EMV BUILDINGS $1,082.000
SITE: 3.17 acres or 138,400 sq ft @.61 $ 92,728
TOTAL EMV BUILDING AND LAND $1,174,728
A. ESTIMATED MARKET VALUE $1.174,728.00
B. CURRENT TAX CAPACITY 59,185.85
C. BASE TAX CAPACITY 1,003.00
D. TAX CAPACITY 58,182.85
E. TAX CAPACITY RATE .97876
F ANNUAL TAX CAPACTIY $ 56,947.04
G. ANNUAL DEBT SERVICE 39,570.75
$215.000 BOND ISSUANCE @ 9.58 8 years (184.05)
$300,000 BOND ISSUANCE @ 9.52 8 years D/S $55,215
AARAAAAAAAAAAAARAAAAAAAAAAAAAAAAAA•AAAAARAAAAAAAAAAAAAAAAAAAAAAAAAIIAA
PROJECT COST
LARCE STORM SEWER $130.00 x 516.61 + 20 ft
$ 69,750.00
(Curb, guttor $8.00 per ft x 411.53 ft
3.290.00
storm sower $40.00 x 411.53 ft
16,500.00
(,Small
Over -lay $6.40 par ft per in. x 2 x 411.53 ft
5,270.00
Excavating
30,000.00
Landscaping
20,000.00
Plan/Devolopmont
5,000.00
Bond Discount
7,500.00
Bond Issuance
10,000.00
Administration 32
6,840.00
Ak Capitalized Interest (24 mos) 40,-850.00
TOTAL PROJECT COST $215,000.00
LAND ACQUISITION 67,695.1 or 1.55 acres @ .67 45,355.71
POSSIBLE INCREASE IN EXCAVATING AND LANDSCAPE COST
•;� L�{N� - ,� •. ;.: � ._,,,��•°'�.�',.."'�,-"t.�,,• '.; ";;� � 111 ''� /�•�,r� •"•� �/ /
;r�.�+'T., ,»_ ++ .? .y..y,, :` _J . o h fi`'"``^.,�,� •/, f i 1.ti f)`-' _ ,-, 1.
"{' °y �' �.: art: '4•.'l.tr��f •� J �.:.,•.• J � r�';C ! l L_-...—
r HL
4 t 11 f ^ Ef:R O
^•:gam , �,, i J` . / a'' Dano` /•' �4
�;• s a,
F
..j9 ��
ua
Q
,.,
••fir. 7
70 ij 'tl,•41i"`r~T
�SPA�
„'PARK•_—
ty
�
R¢SrHvO,�
F
..j9 ��
ua
Q
TAX CAPACITY FINANCE PROPOSAL
CITY OF MONTICELLO
on behalf of
FOOD PROCESSING COMPANY
ASSUMPTIONS:
1. Total 75,000 square foot tip -up concrete building
35,000 sq ft dry Warehouse x $25.00 $ 875,000.00
35,000 sq ft refrigeration x $37.50 $1,312,500.00
5,000 sq ft 2nd floor office x $40.00 $ 200,000.00
Total 3.800 square foot service garage x $25.00 $ 95,000.00
Parking Improvements $ 10,000.00
2. SITE: 24.419 acres of Boyle's Property x .35
per sq ft (1,063,700 sq ft) $ 372,295.00
3. Tax Capacity District is certified in March. 1989.
COST PROJECTIONS:
LAND ACQUISITION $366,300
($15,000 per acre)
FINDER'S FEE 15,000 '
(4%)
CURB, LANDSCAPING,
STORM SEWER 50,000
ADMINISTRATION 25.000
(5%)
IP ROADS A\:.-::wiu+r eR 125.700
BOND ISSUANCE 13,000
BOND DISCOUNT 7,500
PLAN/DEVELOPMENT 5,000
CAP INT (24 mos) 142,500
TOTAL COST PROJECTIONS $750.00n
LESS BOND ISSUANCE $750.001,
9.5% over 8 yenrs (184.05)
GAP -0-
AAAA#AAAARRRAAAAAAAAAAARRARAAA##AAAAAAAAAAARAAAA#AA#RAAA#RRRRAA
TAX CAPACITY PROJECTIONS:
A. ESTIMATED MARKET VALUE $2,864.795.00
B. CURRENT TAX CAPACITY $
147.069.34
C. BASE TAX CAPACITY $
1,381.28
D. TAX CAPACITY PERCENTAGE
99.06082
E. TAX CAPACITY $
145,688.06 PAYABLE 1991
i Zw 0.k,
.993. k.'A
F. ANNUAL ADJUSTED TAX CAPACITY
NONE
G. ANNUAL DEBT SERVICE ($750.000) $
138.037.50
* ADJUSTABLES
•`)��� �,;J �l ('. ••q'._,v f.vvtt �j �j'• 'i). •' y tt\ .i � ..1 (! �6
1 --..a .f• .11 � � .'s�"``_..y�y 1'':� .,b .���""��\r• rI.,:'N)��fo . 'SC!'i0t1 t.�'•, , • r.,1 �+�".,^. ' :*�"�, '`, + ' '�
. !. t ♦ "r• .tit ...�� t � � � �\„ may. '�{�AntU�.�itr �%
•,��:` i ► � d y ��1fi•�, � � r,a �`r~ ice+►,` .
+'''`tom+ •" • , <..� ,a � t• \ ;: �• �