2.4.
| CC Work Session |
| Meeting Date: | 11/10/2025 |
| Primary Strategic Plan Initiative: | {ud_pd2} |
Information
Title:
Policy for the Reimbursement of Land Proceeds and Tax Increment for TIF Area #14 (COR) Amended
Purpose/Background:
Purpose: To amend a policy that outlined how land proceeds and tax increment would be applied when funds were received to pay back the City for the funds it has expended in the COR area.
The original policy was adopted at the regular City Council meeting of June 10, 2014. With the passing of the Special Legislation in 2025 and the expenditure of additional City Funds in the COR area, the policy needs to be amended. The improvement of County 116 was also calculated into the totals of the policy of 2014 and this project has not sufficed.
The original policy was adopted at the regular City Council meeting of June 10, 2014. With the passing of the Special Legislation in 2025 and the expenditure of additional City Funds in the COR area, the policy needs to be amended. The improvement of County 116 was also calculated into the totals of the policy of 2014 and this project has not sufficed.
Time Frame/Observations/Alternatives:
10 minutes
Funding Source:
Future land proceeds and tax increment generated in the COR area.
Recommendation:
Review of amended policy.
Outcome/Action:
Review of amended policy to bring to future City Council meeting for adoption.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 11/06/2025 12:38 PM |
- Form Started By:
- Diana Lund
- Started On:
- 10/24/2025 12:01 PM
- Final Approval Date:
- 11/06/2025