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PROJECTS IN THE TIF PIPELINE Mike Davis – City Administrator & Director of Community Development April 9, 2014 1 ---PAGE BREAK--- TERRACE AVENUE APARTMENTS 2 Middleton Station Apartments on Terrace Ave. ---PAGE BREAK--- 3 Middleton Station Apartments on Terrace Ave. ---PAGE BREAK--- 4 TERRACE AVENUE APARTMENTS Middleton Station Apartments on Terrace Ave. Base Value: $284,200 Est. Improvement Value: $6,200,000 Estimated Incremental Value: $5,915,800 Estimated Payback Timeline: 10.95 years ---PAGE BREAK--- PREFINISHED MILL WORK SITE – APARTMENTS, RETAIL & BANK LYCON HIGHWAY 14 5 ---PAGE BREAK--- BUILDING 2 - APTS BUILDING 1 - RETAIL BUILDING 3 - BANK PREFINISHED MILL WORK SITE – APARTMENTS, RETAIL & BANK PROPOSED STREET & SIDEWALK 6 ---PAGE BREAK--- 7 PREFINISHED MILL WORK SITE – RETAIL & BANK PARCEL Base Value: $803,374 Est. Improvement Value: $3,500,000 Estimated Incremental Value: $2,696,626 Estimated Payback Timeline: 9.33 years ---PAGE BREAK--- 8 PREFINISHED MILL WORK SITE – APARTMENT PARCEL (IMAGE BELOW IS HERITAGE SENIOR APARTMENTS, ALSO BY MSP REAL ESTATE) Base Value: $320,489 Est. Improvement Value: $3,800,000 Estimated Incremental Value: $3,479,511 Estimated Payback Timeline: 8.8 years ---PAGE BREAK--- 9 Esser Place Compass Properties (IMAGE BELOW IS CURRENT SITE) DEMING WAY Base Value: $10,183,200 Est. Improvement Value: To Be Determined Est. Incremental Value: To Be Determined Est. Payback Timeline: To Be Determined ---PAGE BREAK--- PARMENTER CIRCLE APARTMENTS PHASE II TID # 3 TID # 5 PARMENTER CIRCLE 10 ---PAGE BREAK--- PARMENTER CIRCLE APARTMENTS PHASE II 11 Base Value: $283,700 (Excludes 2nd Lot-TBD) Est. Improvement Value: $6,261,694 Estimated Incremental Value: $5,977,994 Estimated Payback Timeline: 9.73 years ---PAGE BREAK--- ASPEN COMMONS OFFICE, RESIDENTIAL & HEALTH CLUB 12 ---PAGE BREAK--- EXISTING PARKING RAMP NEW DEVELOPMENT ASPEN COMMONS OFFICE, RESIDENTIAL & HEALTH CLUB OFFICE TOWER APARTMENTS & HEALTH CLUB 13 ---PAGE BREAK--- OFFICE TOWER ASPEN COMMONS OFFICE, RESIDENTIAL & HEALTH CLUB APARTMENTS & HEALTH CLUB 14 Base Value: $1,031,000 Est. Improvement Value: To Be Determined Est. Incremental Value: To Be Determined Est. Payback Timeline: To Be Determined ---PAGE BREAK--- CAPITAL BREWERY REDEVELOPMENT & TERRACE AVE. REDEVELOPMENT 15 ---PAGE BREAK--- CAPITAL BREWERY REDEVELOPMENT & TERRACE AVE. REDEVELOPMENT 16 ---PAGE BREAK--- CAPITAL BREWERY REDEVELOPMENT & TERRACE AVE. REDEVELOPMENT 17 ---PAGE BREAK--- CAPITAL BREWERY REDEVELOPMENT & TERRACE AVE. REDEVELOPMENT 18 Base Value: $1,103,800 Est. Improvement Value: To Be Determined Est. Incremental Value: To Be Determined Est. Payback Timeline: To Be Determined ---PAGE BREAK--- OLD COLONIAL MOTEL SITE REDEVELOPMENT 19 ---PAGE BREAK--- OLD COLONIAL MOTEL SITE REDEVELOPMENT 20 Base Value: $966,400 Est. Improvement Value: To Be Determined Est. Incremental Value: To Be Determined Est. Payback Timeline: To Be Determined