5.7.
| CC Regular Session |
| Meeting Date: | 11/25/2025 |
| Primary Strategic Plan Initiative: | {ud_pd8} |
Title:
Adopt Amended Policy for the Reimbursement of Land Proceeds and Tax Increment for Tax Increment Financing Area #14 - COR
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.
Notification:
Was brought to the City Council worksession of November 10, 2025, and there was agreement to bring it forward for final approval.
Recommendation:
Staff''s recommendation is to adopt amended policy.
Outcome/Action:
Motion to adopt amended Policy for the Reimbursement of Land Proceeds and Tax Increment for Tax Increment Financing Area #14 - COR.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 11/20/2025 12:34 PM |
- Form Started By:
- Diana Lund
- Started On:
- 11/12/2025 11:06 AM
- Final Approval Date:
- 11/20/2025