Review Fiscal Disparties and Fiscal Disparity Election for New COR TIF District

At the October 26th City Council worksession, representatives from Springsted presented the draft Tax Increment Financing (TIF) Plan for the new COR TIF District.  The public hearing for the new district is scheduled to occur at the regular meeting of December 14, 2010.  During the presentation of the draft plan for the new district, there was considerable discussion regarding fiscal disparities and the election of whether fiscal disparities will be paid from within or outside the new district.  Representatives of Springsted will be present for the worksession to discuss fiscal disparities in general as well as the election of fiscal disparties to be paid within or outside the new district. 

 

Staff has made our legislative representatives aware of this discussion and they have been invited to attend this portion of the worksession as this may be a legislative issue to pursue in the 2011 session. 

 

Staff has attached the materials reviewed at the October 26th worksession for Council reference. 

No notification is required for this action. 

Following review of fiscal disparities and the election for the new district, direct staff with regard to paying fiscal disparities from within or outside the district for the new COR district in preparation for the December 14th public hearing for the new district. 

 

Following review of fiscal disparities and the election for the new district, direct staff with regard to paying fiscal disparities from within or outside the district for the new COR district in preparation for the December 14th public hearing for the new district.