Laserfiche WebLink
CC Regular Session <br />Meeting Date: 06/09/2015 <br />By: Diana Lund, Finance <br />Information <br />4.13. <br />Title <br />Adopt Resolution 415-06-141 Policy for the Reimbursement of Land Proceeds and Tax Increment for TIF Area 414 <br />(COR) <br />Purpose/Background: <br />Purpose: Section 12.5: ,Sales of Real Property of the City's Charter states: If there are proceeds from the sale of real <br />property, if there is no outstanding indebtedness, the council may by resolution designate some other public use for <br />the proceeds. <br />Background: The Policy for the Reimbursement of Land Proceeds and Tax Increment for TIF Area 414 (COR) was <br />adopted by the City Council at its regular meeting of June 10, 2014 (copy of policy is attached). With the recent <br />land sales that have taken place in the past couple of weeks, staff was made aware that this policy should have been <br />adopted by a resolution as outlined in the City's Charter. <br />Observations/Alternatives: <br />As Council has already adopted this policy, this is strictly a housekeeping item to assign a resolution number to the <br />policy as required by the City Charter. <br />Recommendation: <br />Staff recommends the adoption of Resolution 415-06-141 which is formally assigning a resolution number to a <br />policy that was adopted on June 10, 2014. <br />Action: <br />Motion for City Council to adopt Resolution 415-06-141 to the Policy for the Reimbursement of Land Proceeds and <br />Tax Increment for TIF Area 414 (COR) <br />Attachments <br />Policy for the Reimbursement of Land Proceeds <br />Reso 415-06-141 Adopt Policy for Reimbursement of Land Proceeds <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 06/03/2015 04:11 PM <br />Form Started By: Diana Lund Started On: 05/26/2015 01:14 PM <br />Final Approval Date: 06/03/2015 <br />