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4.77 rC N fr JT- a <br /> N <br /> 0 Ehlers $t Associates <br /> Tax Increment Financing District Overview <br /> City of Orono/Orono HRA ' <br /> Tax Increment Financing District No. 1 -1 <br /> Proposed action: Establishment of Housing Project Area No. and the adoption of a <br /> Development Plan. <br /> Establishment of Tax Increment Financing District No. 1-1 and the <br /> adoption of the Tax Increment Financing Plan. <br /> It is anticipated that the City Council will conduct the public hearing o <br /> May 14, 2001, but not take any formal action. The adoption of th <br /> resolutions approving the above actions will be considered at a subsequen <br /> meeting. <br /> Type of TIF District: A Housing District. Twenty percent(20%)of the units will be occupied <br /> by persons with incomes less than 50%of the area median income. <br /> Parcel Numbers: 34-118-23-24-0058* (*The parcel will be subdivided and a new parcel number <br /> will be assigned to the property included within the district.) <br /> Location: <br /> suras �� _,.. i..,44- 1....0,1.i.. <br /> t ...-mak } <br /> IIIY <br /> �Y w• .,l � 9 eR � �''' pair-� 10 <br /> �4' .., .y `-0 E "rte ,,. <br /> •x a .x,.—",_ g�y0�ffi A / '?, al -oat C <br /> mar z �,�, t= --- �...... <br /> xata Blvd. k;7, *— <br /> C u"'"k, P <br /> IC <br /> w ,,a 3 .a �� Sr'7A7A so. �.b .. :4 <br /> KK oa'ersar'eL1 r - ;, - ;:r saILAe Housing <br /> 's- ` i" --1 .a' 1_ #_ ,,,'t ' Project No.1 <br /> a ,' f ' TIF District 1-1 <br /> vd�a <br /> Proposed development: Orono Woods. Approximately 62 units of housing for occupancy by <br /> senior citizens. <br /> Estimated annual tax $75,263. This amount is based on assumptions value of the proposed <br /> increment: development after the completion of construction. The estimate is also <br /> based on the current parameters of the property tax system. Changes i j <br /> these assumptions will alter the actual tax increment revenues. <br />