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BUDGET: The estimated cost of the Nature of the Improvement or Repairs: $1,500,000.00-- <br />$1,900,000.00. Discounts on the fees are mentioned in the program guidelines as described above. <br />The tax abatement will have negligible budgetary impact as the abatement will apply only to the <br />incremental value to taxable value attributable to the required improvements on otherwise <br />undeveloped property. <br />RECOMMENDATION: Adopt a resolution approving the attached 5 in 5 agreement with Palma <br />Holdings, LLC. <br />