2.1.
CC Work Session
- Meeting Date:
- 12/14/2010
- By:
- Heidi Nelson, Administrative Services
Title:
Consider Fiscal Disparity Election for new TIF District 14 (COR)
Background:
As Council will recall, the draft TIF plan for the new district was presented to the City Council on October 26th work session. There was significant discussion regarding the election of whether to pay fiscal disparities within or outside the new district. Springsted presented information at a subsequent work session regarding fiscal disparities on November 23rd. The new TIF District Plan is on the regular agenda this evening for adoption, with the adoption, an election will need to be made regarding the payment of fiscal disparities. The preparation of the case for establishing the new TIF District reflects the election to pay the fiscal disparities outside the district for the purposes of representing the greatest impact for the public hearing with the option of the City Council to change that election prior to formal adoption.
Notification:
Notice for the Public Hearing for establishing the new TIF District was published on December 3rd for the December 14th hearing.
Observations:
Please refer to the powerpoint that was presented at the November 23, 2010 meeting.
Recommendation:
Discuss fiscal disparity election for new TIF District.
Funding Source:
The TIF district plan preparation was funded by the HRA.
Council Action:
Direct staff regarding the fiscal disparty election for the new TIF district.
Fiscal Impact
- Budgeted Y/N:
- N
- Budgeted Year:
- 2010
- Fund:
- HRA
Funding:
The TIF district plan preparation was funded by the HRA.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 12/09/2010 04:35 PM |
- Form Started By:
- hnelson
- Started On:
- 12/09/2010 11:53 AM
- Final Approval Date:
- 12/09/2010