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CASE #1: <br />DISCUSS TAX INCREMENT FINANCING POLICY <br />By: Anne Norris, Community Development Director <br />Background: <br />At its last meeting Council requested that a meeting be scheduled with Mr. Ron <br />Batty (Bond Counsel) to discuss a proposed policy for evaluating requests for <br />City participation in projects using tax increment financing. <br />Enclosed for your information is a draft policy. Please note that the policy <br />outlines criteria for evaluating requests for tax increment financing <br />assistance; the evaluation is proposed to address the following issues: <br />a) Location of development with respect to City's land use plans; <br />b) Type of development; <br />c) Sources of financing; and <br />d) Jobs created. <br />These criteria are only guidelines and should not be considered as absolutes. <br />The policy also incorporates the existing process that the City Council has <br />adopted for reviewing requests for City participation. Also note that the <br />total assistance requested will include administrative, engineering, and legal <br />costs incurred by the City in the course of participating in that project. <br />Observations: <br />As you requested, Mr. Ron Batty, Bond Counsel, will be present at the meeting <br />to discuss this policy with you. <br />Recommendation: <br />Council action will be based on your discussion. <br />Review Checklist: <br />Administrator X Chief of Police <br />Attorney Finance Officer <br />Engineer X Public Works Superintendent <br />Community Development Director X Bond Counsel <br />7_ <br />