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10 Minutes CASE 413: <br /> <br />RECOMMENDATION FROM ECONOMIC DEVELOPMENT COMMISSION AND <br />PLANNING AND ZONINC COMMISSION REGARDING THE USE OF TAX <br />INCREMENT FINANCING TO PARTICIPATE IN THE EXTENSION OF <br /> UTILITIES FOR ADDITIONAL RESIDENTIAL DEVELOPMENT <br /> By: Anne Norris, Community Development Director <br /> Pete Raatikka, City Engineer <br /> <br />Background: <br /> <br />Mr. Dick Carson has appeared before both the Economic Development Commission <br />and the Planning and Zoning Commission to review his concept of a residential <br />development north of Magnesium Street NW and west of Ramsey Terrace. Mr. <br />Carson would like to develop this area with municipal sewer and.water and is <br />requesting City participation in the cost of extending the utilities to that <br />area. <br /> <br />The Planning and Zoning and Economic Development Commissions held a joint <br />meeting on June 9, 1987 to discuss Mr. Carson's proposal. At that time the <br />Commissions recommended that the City Council consider using tax increment <br />financing to extend trunk sewer and water to the area west of Ramsey Terrace <br />north of Magnesium Street NW and to include that area in the tax increment <br />financing and development districts in order to recoup the City's investment in <br />that project. In addition, the recommendation specified that the City should <br />not consider participating in this project unless the property owners adjacent <br />to Mr. Carson's property are willing to commit to developing their properties <br />as well. <br /> <br />Enclosed for your information is a map showing the subject area. <br /> <br />Recommendation: <br /> <br />Council action will be based on your discussion. <br /> <br />Review Checklist: <br /> <br />Administrator <br />Attorney <br />Engineer <br />Community Development Director <br />Planning and Zoning Commission <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Superintendent <br />Economic Development Commission <br /> <br /> <br />