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CC Work Session 2. 1. <br />Meeting Date: 05/13/2014 <br />Title: <br />Analysis of Tax Increment Financing (TIF) District #14 - The COR <br />Purpose /Background: <br />Purpose /Background: <br />Purpose: Report on the analysis completed by Ehlers and Associates in regard to TIF #14, in preparation for the <br />public hearing for action to be held on May 27. <br />Background: <br />This is a continuation of the analysis presented in January 2014. Stacie Kvilvang from Ehlers will be present to <br />discuss the report, focusing on four main goals as outlined in the analysis: <br />1. Make sure there is enough TIF generated to repay the HRA /City for its investment. <br />2. Make sure there is enough TIF generated to pay pay -as- you -go TIF obligation to F &C for the Residence at the <br />COR <br />Apartments. <br />3. Reduce size of TIF district as appropriate. <br />4. Determine if the City/HRA can change Fiscal Disparities calculation method. <br />The Tax Increment Financing Plan for TIF #14 has been modified to reflect the reduction in parcels as noted in the <br />analysis. The public hearing for formal adoption of this modification is scheduled for May 27, 2014. <br />Timeframe: <br />20 -30 Minutes <br />Funding Source: <br />TIF District #14 <br />Responsible Party(ies): <br />City Administrator/Finance Director <br />TIF 14 Plan Modification <br />Ehlers COR TIF Analysis <br />Information <br />Outcome: <br />Review Ehler's COR TIF analyis and brief summary of TIF # 14 Plan Modification. <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 05/08/2014 12:41 PM <br />Form Started By: Diana Lund Started On: 04/28/2014 02:19 PM <br />