Laserfiche WebLink
DISCUSSIO~ P4~GARDING POLICY FOR ~ B~QUESTS <br /> FOR TAX IN(~EMENT FINANCING <br />By: Anne h. Norris, C(m~nm_ity Develcimmnt Director <br /> <br />CASE 915: <br /> <br />Background: <br /> <br />As you recall, the Commission commented that you would like to discuss the <br />City's policy regarding approval of requests for tax increment financing. <br />The Council adopted a policy regarding a process for requests for tax <br />increment financing assistance. This policy includes staff review for <br />legal and financial feasibility, Economic Development Commission review for <br />consistency with economic development policies and Planning Commission <br />review for consistency with land use controls and plans. A summary of the <br />various reviews is presented to the City Council for their review. <br /> <br />For your information, enclosed is the City's policy regarding requests for <br />tax increment financing. <br /> <br />Observations: <br /> <br />In general terms, state legislation provides that tax increment financing <br />may be used for redevelopment or rehabilitation of deteriorated areas of <br />the City, assistance to facilitate the construction of housing available to <br />low and moderate income persons, and/or to promote economic develol~uent and <br />provide employment opportunities in the City. <br /> <br />P~m~ndations: <br /> <br />C(m~{ssi~nAction: <br /> <br />Will be based on your discussion. <br /> <br />R~view (~ecilist: <br /> <br />Administrator <br />Attorney <br />Engineer <br />Community Development Director <br /> <br />Finance Officer <br />Public Works Superintendent <br />Bond Counsel X <br /> <br /> <br />