HomeMy WebLinkAbout[06a] TIF DisbursementI,.,; CITY OF ST. JOSEPH
WWV. cityofstjoseph.com
DATE: December 11, 2013
MEMO TO: Economic Development Authority
Administrator FROM: Cynthia Smith - Strack Municipal Development Group
Judy Weyrens
Mayor RE: Disbursement of TIF Payment: St. Joe Meat Market & Millstream Shops /Lofts
Rick Schultz Background
The City has received the second settlement for 2013 property taxes. The second half payment
Councilors includes revenue for TIF 2 -1 (Millstream Shops /Lofts) and TIF 2 -2 (St. Joe Meat Market).
Steve Frank
Bob Loso Finance Director, Lori Bartlett has processed the payment and requests approval of the
Renee Symanietz following disbursements:
Dale Wick
a. TIF 2 -1 — Millstream Shops /Lofts (payment to lender assigned: $14,317.81 (i.e. 90% of
EDA increment received).
Doug Danielson
Steve Frank b. TIF 2 -2 — St. Joe Meat Market (payment to property owner) in the amount of $1,767.49
Larry Hosch (i.e. 95% of increment received).
Gary Osberg
Dale Wick
Action:
A MOTION to approve the disbursement request for TIF 2 -1 in the amount of $14,317.81 and
TIF 2 -2 in the amount of $1,767.49 is in order.
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