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The project is estimated to cost around $11 million, not including potential utility relocation costs.
The city is allocating $60,000 in TAP tax funds for various community arts projects.
The development will likely increase property tax revenue for the city.
The city is providing a $3.2 million loan to cover impact fees, which will be repaid upon the project's refinancing.
The impact on election administration costs is currently under review.
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