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20 Minutes CASE <br /> <br />MODIFICATION OF TA~ IMC~ FI~A~CX~C DOCUI~NTS AND <br /> EXTENSION OF PUBLIC UTILITIES TO XNDUS~IAI. AREA <br /> <br />Background: <br /> <br />The Council is conducting a public hearing the modification of the <br />Development Program and Tax Increment Financing Plan for the existing <br />Development and Tax Increment Financing Districts. The reasons for these <br />modifications are: 1) to allow for the utilization of tax increment funds for <br />a portion of the costs of extending sewer and water to the City's industrial <br />area; 2) to utilize tax increment funds for site improvements in the Flintwood <br />Hills III Addition project; 3) to capture the increment from those properties <br />in the industrial area that will be improved due to sewer and water; and 4) to <br />expand the boundaries of the existing Development District for more contiguous <br />boundaries. Mr. Dave Kennedy and Mr. Ron Batty of LeFevere, Lefler, Kennedy <br />will be at the meeting to discuss these modifications. <br /> <br />In addition to the modification of the tax increment financing documents, the <br />Council needs to amend its Comprehensive Plan to allow for the extension of <br />sewer and water to the industrial area north of Industry Avenue. <br /> <br />The Council conducted a public hearing on the extension of municipal water and <br />sanitary sewer to the industrial area on April 29, 1986; the 60 day waiting <br />period expires on June 28; Council may take action on this on June 30. <br /> <br />Enclosed for your information are the following items: <br /> <br />a) Modified Development Program and Tax Increment Financing Plan <br />b) Resolution ~86-__modifying Development Program and Tax Increment <br /> Financing Plan <br />c) Resolution #86-__ amending the Comprehensive Plan <br />d) Resolution ~86-__ ordering plans and specifications for the extension <br /> of municipal water and sanitary sewer to the industrial area and for <br /> the construction of a 500,000 gallon water storage facility <br /> <br />Rec o~endat ion: <br /> <br /> Council Action: <br /> <br /> Motion to adopt Resolution #86-__ modifying the Development Program for <br /> Development District ~I and the Tax Increment Financing Plan for Tax <br /> Increment Financing District ~1. <br /> <br /> Motion to adopt Resolution ~86-~ ~mending the 1~0 Comprehensive Plan to <br /> [nclnde ~he ex~ens[on ~ public n~[l[t[es ~ s portion of the City's <br /> industrial area. <br /> <br /> Motion to adopt Resolution ~86-~ ordering/ the plans and specifications <br /> <br /> <br />