This is an update to the Canterbury TIF Plan.  Over the past several years it has been changed to include additional land.  It is now being modified to reflect the actual construction costs to date for various public rights of way and now fully incorporates the proposed CH83 project that will start construction in 2022.  The Plan now pays the entire city's obligation out of the TIF and removes it from the city's Capital Improvement Fund. 

The Plan now also includes the costs for the land acquisition and demolition.  The Plan also shows the current development value of private development projects completed and also the values for projects that are under construction, permitted or in final approvals.  It also projects values for future projects that Canterbury is contemplating.

Because these projects receive Certificate of Occupancies at various years, the revenue flows have been modified.  Also, since there is a substantial amount of housing, the TIF value has increased since all of those taxes go into the TIF, versus commercial, where a large portion goes to the State and Fiscal Disparities.  

The Plan now reflects the completion of Triple Crown, the Canterbury Crossings townhomes under construction, the Senior Cooperative, Greystone's headquarters and a new 150-unit age restricted market rate apartment.  Greystone is also completing plans for the Southwest Development.  Canterbury is completing plans for the area currently under an EAW and then the area of the barns at the intersection of CH83 and 12th Avenue.  All of these projects are now included in TIF Plan.