Chs Mankato Cash Bids

3.10 billion USD (from customers)

The property and/or interest title will remain the property of customer, there is no intent to sell the entire amount nor does the proposed development represent a total sell-off to the city and open for bids. This land can't be developed if future proposals or zoning changes involve increased density, greater height of buildings such as multi story buildings on this area, etc... 2.9 million dollars was available and purchased by City Council. 15 million in sales funds for flood mitigation has not been released. 7.6 million dollars going toward ground transportation link that includes commuter rail line from the city of Chanhassen next door. 1.5 million still needs to be approved based upon final assessments and court orders. 434 million is still necessary for State and federal approvals.. The purpose of this loan is bring necessary funding to make these projects happen. No bond issue could surpass this amount.... 654 million dollars currently at this time being used as revenue stream to pay off existing debts from the sale of the First Energy Center including payments towards this loan. Only portion financed, 30 year loan rate 10%. See annex section below.

Table 8 - Debt Impact After Loans Are Paid Off:

*Note: when current debt obligations are retired all remaining loans become part of the capital infrastructure. You cannot decrease size of capital structure without decreasing public debt. If you look back in history most of our local government debt would not have existed before this additional borrowing..... see Table 9-1D

Less Revenue ($In Millions) Net Revenue Earned/Borrowed Lost Total Payable UGL project $350 -000 559 1,682 850 3.2 2,817,120 n/a AGL project $376 1,331 38 2,680 1,555 650 -450 26.5 3,772,200 13

Total Effect $2255 630 2,863 1,370 2,232 900 490 914 461 17.0 36,674,600 63

Since April 29, 1994, there has NOT been a property tax increase passed to each resident of Chaska. Whether you buy your groceries at Big Boy's across the street from your children's schools, or watch a sporting event at a high school gymnasium, you take home the exact same percentage of what you paid last month.